Oppenheimer & Co. Inc. Cuts Stock Holdings in Blue Owl Capital Co. (NYSE:OBDC)

Oppenheimer & Co. Inc. lowered its stake in Blue Owl Capital Co. (NYSE:OBDC) by 32.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 334,603 shares of the company’s stock after selling 159,737 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Blue Owl Capital were worth $5,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Gilbert & Cook Inc. purchased a new stake in shares of Blue Owl Capital in the fourth quarter worth about $2,644,000. Avantax Advisory Services Inc. bought a new stake in Blue Owl Capital in the fourth quarter worth $474,000. Beacon Pointe Advisors LLC purchased a new stake in Blue Owl Capital during the fourth quarter valued at $299,000. Meridian Wealth Management LLC bought a new position in Blue Owl Capital during the fourth quarter valued at $496,000. Finally, Kingsview Wealth Management LLC purchased a new position in shares of Blue Owl Capital in the 4th quarter worth $151,000. Institutional investors own 42.83% of the company’s stock.

Insider Buying and Selling

In other news, Director Edward H. Dalelio bought 2,500 shares of the stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $15.02 per share, for a total transaction of $37,550.00. Following the acquisition, the director now owns 9,016 shares of the company’s stock, valued at $135,420.32. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.12% of the stock is owned by insiders.

Analyst Ratings Changes

OBDC has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Blue Owl Capital in a report on Monday, August 12th. Raymond James cut Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Keefe, Bruyette & Woods decreased their price target on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a report on Tuesday, August 20th. Compass Point raised shares of Blue Owl Capital to a “strong-buy” rating in a research note on Monday, August 19th. Finally, Wells Fargo & Company reduced their target price on shares of Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Blue Owl Capital has a consensus rating of “Moderate Buy” and an average target price of $15.94.

Blue Owl Capital Stock Performance

OBDC stock opened at $14.80 on Friday. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 7.47 and a beta of 0.87. Blue Owl Capital Co. has a twelve month low of $12.99 and a twelve month high of $16.91. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.24. The business’s fifty day simple moving average is $15.02 and its two-hundred day simple moving average is $15.51.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $396.76 million for the quarter, compared to the consensus estimate of $388.84 million. Blue Owl Capital had a net margin of 43.61% and a return on equity of 12.66%. Analysts predict that Blue Owl Capital Co. will post 1.93 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.06 dividend. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.62%. Blue Owl Capital’s payout ratio is presently 74.75%.

Blue Owl Capital Company Profile

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.