Wealth Enhancement Advisory Services LLC Decreases Stock Position in Blue Owl Capital Co. (NYSE:OBDC)

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Blue Owl Capital Co. (NYSE:OBDC) by 43.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,807 shares of the company’s stock after selling 22,352 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Blue Owl Capital were worth $442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC boosted its position in shares of Blue Owl Capital by 98.6% during the second quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after buying an additional 1,032 shares during the last quarter. Heritage Wealth Advisors bought a new position in Blue Owl Capital during the 4th quarter valued at about $32,000. Headlands Technologies LLC purchased a new stake in shares of Blue Owl Capital during the 1st quarter valued at about $40,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Blue Owl Capital in the fourth quarter worth approximately $38,000. Finally, Spire Wealth Management purchased a new position in shares of Blue Owl Capital during the fourth quarter valued at approximately $45,000. Institutional investors own 42.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on OBDC shares. Truist Financial dropped their target price on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company cut their price objective on Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating for the company in a report on Friday, August 9th. Compass Point upgraded Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods dropped their target price on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a research report on Tuesday. Finally, Raymond James downgraded Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and an average target price of $15.94.

Blue Owl Capital Price Performance

NYSE OBDC opened at $14.92 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.84 and a current ratio of 0.84. The business’s fifty day moving average is $15.24 and its 200 day moving average is $15.51. The company has a market capitalization of $5.81 billion, a PE ratio of 7.53 and a beta of 0.87. Blue Owl Capital Co. has a fifty-two week low of $12.99 and a fifty-two week high of $16.91.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.06 per share. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, August 30th. Blue Owl Capital’s payout ratio is presently 74.75%.

About Blue Owl Capital

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.