Naviter Wealth LLC Raises Stock Holdings in Blue Owl Capital Co. (NYSE:OBDC)

Naviter Wealth LLC increased its position in Blue Owl Capital Co. (NYSE:OBDC) by 1,373.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 277,209 shares of the company’s stock after purchasing an additional 258,400 shares during the period. Blue Owl Capital accounts for 0.7% of Naviter Wealth LLC’s portfolio, making the stock its 28th biggest position. Naviter Wealth LLC owned approximately 0.07% of Blue Owl Capital worth $4,365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OBDC. Heritage Wealth Advisors bought a new stake in Blue Owl Capital in the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. bought a new stake in Blue Owl Capital in the fourth quarter worth $38,000. GPS Wealth Strategies Group LLC bought a new stake in Blue Owl Capital in the fourth quarter worth $41,000. Spire Wealth Management bought a new stake in Blue Owl Capital in the fourth quarter worth $45,000. Finally, Westend Capital Management LLC bought a new stake in Blue Owl Capital in the first quarter worth $56,000. 42.83% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Trading Up 1.3 %

Shares of NYSE:OBDC traded up $0.20 during trading on Tuesday, hitting $15.59. The company had a trading volume of 1,806,911 shares, compared to its average volume of 2,007,083. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 7.87 and a beta of 0.88. Blue Owl Capital Co. has a one year low of $12.99 and a one year high of $16.91. The company has a fifty day simple moving average of $16.16 and a two-hundred day simple moving average of $15.48. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.67 and a quick ratio of 1.67.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $399.58 million during the quarter, compared to the consensus estimate of $399.16 million. Blue Owl Capital had a net margin of 48.25% and a return on equity of 12.64%. As a group, equities analysts forecast that Blue Owl Capital Co. will post 1.88 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were paid a dividend of $0.05 per share. This represents a dividend yield of 10%. The ex-dividend date was Friday, May 31st. Blue Owl Capital’s dividend payout ratio is currently 74.75%.

Analysts Set New Price Targets

OBDC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $16.00 price target on shares of Blue Owl Capital in a research report on Thursday, May 23rd. Royal Bank of Canada upped their price target on Blue Owl Capital from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Hovde Group increased their target price on Blue Owl Capital from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Truist Financial increased their target price on Blue Owl Capital from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $16.00 target price on shares of Blue Owl Capital in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Blue Owl Capital has an average rating of “Moderate Buy” and an average target price of $16.19.

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.