MQS Management LLC Takes Position in Blue Owl Capital Co. (NYSE:OBDC)

MQS Management LLC purchased a new position in shares of Blue Owl Capital Co. (NYSE:OBDC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 62,228 shares of the company’s stock, valued at approximately $956,000. Blue Owl Capital makes up 0.6% of MQS Management LLC’s portfolio, making the stock its 10th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Stephens Inc. AR acquired a new position in shares of Blue Owl Capital in the 4th quarter valued at $45,575,000. Van ECK Associates Corp boosted its stake in shares of Blue Owl Capital by 19.4% during the first quarter. Van ECK Associates Corp now owns 8,150,533 shares of the company’s stock worth $125,355,000 after buying an additional 1,326,277 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Blue Owl Capital in the 4th quarter valued at approximately $19,635,000. Goldman Sachs Group Inc. purchased a new position in Blue Owl Capital during the 4th quarter worth $16,207,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Blue Owl Capital in the fourth quarter valued at about $14,919,000. 42.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OBDC. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of Blue Owl Capital in a research report on Monday, August 12th. Wells Fargo & Company reduced their price target 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. Truist Financial decreased their price target on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Compass Point upgraded Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Finally, Raymond James cut shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Blue Owl Capital has a consensus rating of “Moderate Buy” and an average price target of $15.94.

Blue Owl Capital Stock Performance

NYSE OBDC opened at $14.79 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.24. Blue Owl Capital Co. has a fifty-two week low of $12.99 and a fifty-two week high of $16.91. The business has a fifty day moving average of $14.97 and a 200-day moving average of $15.51. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 7.47 and a beta of 0.87.

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

Blue Owl Capital Increases Dividend

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

Insider Buying and Selling at Blue Owl Capital

In other Blue Owl Capital news, Director Edward H. Dalelio acquired 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $15.02 per share, for a total transaction of $37,550.00. Following the completion of the acquisition, the director now directly owns 9,016 shares of the company’s stock, valued at $135,420.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.12% of the stock is currently owned by insiders.

Blue Owl Capital 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.