Blue Owl Capital Co. (NYSE:OBDC) Stake Lessened by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lowered its holdings in Blue Owl Capital Co. (NYSE:OBDC) by 72.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,370 shares of the company’s stock after selling 122,221 shares during the period. Pallas Capital Advisors LLC’s holdings in Blue Owl Capital were worth $696,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of OBDC. Heritage Wealth Advisors acquired a new position in shares of Blue Owl Capital in the fourth quarter worth $32,000. CWM LLC increased its stake in shares of Blue Owl Capital by 98.6% in the second quarter. CWM LLC now owns 2,079 shares of the company’s stock worth $32,000 after acquiring an additional 1,032 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Blue Owl Capital in the fourth quarter worth $38,000. Headlands Technologies LLC acquired a new position in Blue Owl Capital during the first quarter worth $40,000. Finally, Spire Wealth Management acquired a new position in Blue Owl Capital during the fourth quarter worth $45,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Analyst Upgrades and Downgrades

OBDC has been the topic of several analyst reports. Raymond James downgraded shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Truist Financial lowered their target price on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Compass Point raised shares of Blue Owl Capital to a “strong-buy” rating in a research report on Monday. Keefe, Bruyette & Woods lowered their target price on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a research report on Tuesday. Finally, Hovde Group upped their price target on shares of Blue Owl Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.94.

Blue Owl Capital Stock Performance

Shares of NYSE OBDC traded up $0.09 during mid-day trading on Wednesday, hitting $14.62. The company had a trading volume of 222,159 shares, compared to its average volume of 2,034,250. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50-day simple moving average is $15.31 and its 200-day simple moving average is $15.52. Blue Owl Capital Co. has a 12 month low of $12.99 and a 12 month high of $16.91. The firm has a market cap of $5.70 billion, a P/E ratio of 7.38 and a beta of 0.87.

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.06 per share. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.64%. Blue Owl Capital’s dividend payout ratio (DPR) is currently 74.75%.

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.