Magnolia Capital Advisors LLC Takes Position in Blue Owl Capital Co. (NYSE:OBDC)

Magnolia Capital Advisors LLC bought a new position in shares of Blue Owl Capital Co. (NYSE:OBDC) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 161,180 shares of the company’s stock, valued at approximately $2,476,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. National Bank of Canada FI purchased a new stake in shares of Blue Owl Capital during the second quarter worth $26,000. CWM LLC grew its stake in Blue Owl Capital by 98.6% during the 2nd quarter. CWM LLC now owns 2,079 shares of the company’s stock worth $32,000 after purchasing an additional 1,032 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Blue Owl Capital during the 4th quarter worth about $38,000. Headlands Technologies LLC acquired a new stake in Blue Owl Capital in the 1st quarter valued at about $40,000. Finally, Retirement Group LLC boosted its stake in shares of Blue Owl Capital by 216.8% in the 1st quarter. Retirement Group LLC now owns 3,105 shares of the company’s stock valued at $48,000 after buying an additional 2,125 shares during the period. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Stock Up 0.7 %

Blue Owl Capital stock opened at $15.00 on Monday. The company has a market capitalization of $5.85 billion, a P/E ratio of 7.58 and a beta of 0.87. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.84 and a current ratio of 0.84. Blue Owl Capital Co. has a fifty-two week low of $12.99 and a fifty-two week high of $16.91. The stock has a 50-day simple moving average of $14.89 and a 200-day simple moving average of $15.50.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings data 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. The business had revenue of $396.76 million during the quarter, compared to the consensus estimate of $388.84 million. Blue Owl Capital had a return on equity of 12.66% and a net margin of 43.61%. Equities research analysts expect that Blue Owl Capital Co. will post 1.91 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.60%. The ex-dividend date is Monday, September 30th. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.05. Blue Owl Capital’s payout ratio is 74.75%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Blue Owl Capital in a report on Monday, August 12th. Truist Financial decreased their price objective on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, August 9th. 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 report on Tuesday, August 20th. Raymond James cut Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, Compass Point upgraded Blue Owl Capital to a “strong-buy” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.94.

Insider Activity

In other news, Director Edward H. Dalelio purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $15.02 per share, with a total value 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 approximately $135,420.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.12% of the company’s stock.

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.