Farther Finance Advisors LLC Cuts Position in Blue Owl Capital Corporation (NYSE:OBDC)

Farther Finance Advisors LLC lowered its position in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 5.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,855 shares of the company’s stock after selling 795 shares during the quarter. Farther Finance Advisors LLC’s holdings in Blue Owl Capital were worth $205,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cresset Asset Management LLC grew its stake in Blue Owl Capital by 8,188.9% during the fourth quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company’s stock worth $68,762,000 after buying an additional 4,385,987 shares during the period. Generali Asset Management SPA SGR purchased a new stake in Blue Owl Capital during the 4th quarter worth $34,103,000. Raymond James Financial Inc. acquired a new stake in Blue Owl Capital in the 4th quarter valued at $28,434,000. Boston Partners raised its position in Blue Owl Capital by 76.6% in the fourth quarter. Boston Partners now owns 1,648,101 shares of the company’s stock valued at $24,823,000 after purchasing an additional 714,940 shares during the period. Finally, Enstar Group LTD acquired a new position in shares of Blue Owl Capital during the fourth quarter worth about $10,139,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Insider Activity

In other news, Director Victor Woolridge purchased 6,915 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were acquired at an average cost of $14.45 per share, with a total value of $99,921.75. Following the transaction, the director now owns 28,191 shares in the company, valued at approximately $407,359.95. The trade was a 32.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group started coverage on Blue Owl Capital in a research note on Friday, April 11th. They issued a “buy” rating and a $16.00 target price for the company. Keefe, Bruyette & Woods reduced their price target on Blue Owl Capital from $15.10 to $14.50 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Blue Owl Capital in a research report on Thursday, May 15th. B. Riley initiated coverage on shares of Blue Owl Capital in a research note on Tuesday, May 13th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Blue Owl Capital from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $15.64.

Blue Owl Capital Price Performance

OBDC stock opened at $14.57 on Friday. The stock’s 50 day moving average is $14.27 and its two-hundred day moving average is $14.70. Blue Owl Capital Corporation has a 52-week low of $12.11 and a 52-week high of $15.98. The company has a market capitalization of $7.44 billion, a PE ratio of 9.40 and a beta of 0.73. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.31.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). The company had revenue of $464.65 million for the quarter, compared to analyst estimates of $457.88 million. Blue Owl Capital had a return on equity of 11.72% and a net margin of 39.42%. Analysts predict that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were given a $0.01 dividend. This represents a dividend yield of 11.51%. The ex-dividend date was Friday, May 30th. Blue Owl Capital’s payout ratio is currently 95.48%.

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.