SpiderRock Advisors LLC Takes $377,000 Position in Blue Owl Capital Co. (NYSE:OBDC)

SpiderRock Advisors LLC bought a new stake in Blue Owl Capital Co. (NYSE:OBDC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 24,741 shares of the company’s stock, valued at approximately $377,000.

Several other institutional investors and hedge funds have also made changes to their positions in OBDC. Corient Private Wealth LLC acquired a new position in Blue Owl Capital in the 4th quarter valued at about $14,919,000. Goldman Sachs Group Inc. acquired a new position in Blue Owl Capital in the 4th quarter valued at about $16,207,000. Mackenzie Financial Corp acquired a new position in Blue Owl Capital in the 4th quarter valued at about $795,000. Epiq Partners LLC acquired a new position in Blue Owl Capital in the 1st quarter valued at about $4,123,000. Finally, UBS Group AG acquired a new position in Blue Owl Capital in the 4th quarter valued at about $8,978,000. 42.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OBDC has been the topic of several recent research 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 boosted 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 17th. Hovde Group boosted 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 boosted 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.19.

Blue Owl Capital Price Performance

Shares of OBDC traded up $0.05 on Friday, reaching $15.60. The stock had a trading volume of 673,029 shares, compared to its average volume of 1,990,723. 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 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average of $16.15 and a 200 day moving average of $15.48. The firm has a market capitalization of $6.08 billion, a PE ratio of 7.85 and a beta of 0.87.

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

Blue Owl Capital Cuts Dividend

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