Confluence Investment Management LLC Sells 56,911 Shares of Blue Owl Capital Corporation $OBDC

Confluence Investment Management LLC lessened its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 18.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,737 shares of the company’s stock after selling 56,911 shares during the quarter. Confluence Investment Management LLC’s holdings in Blue Owl Capital were worth $3,253,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. NorthRock Partners LLC lifted its stake in shares of Blue Owl Capital by 5.4% during the 2nd quarter. NorthRock Partners LLC now owns 19,106 shares of the company’s stock valued at $281,000 after buying an additional 975 shares in the last quarter. Pallas Capital Advisors LLC lifted its position in shares of Blue Owl Capital by 3.3% during the second quarter. Pallas Capital Advisors LLC now owns 34,566 shares of the company’s stock worth $496,000 after acquiring an additional 1,103 shares in the last quarter. MAS Advisors LLC boosted its holdings in shares of Blue Owl Capital by 4.1% in the second quarter. MAS Advisors LLC now owns 28,173 shares of the company’s stock worth $404,000 after acquiring an additional 1,110 shares during the period. Samalin Investment Counsel LLC boosted its holdings in shares of Blue Owl Capital by 1.5% in the first quarter. Samalin Investment Counsel LLC now owns 77,685 shares of the company’s stock worth $1,139,000 after acquiring an additional 1,169 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Blue Owl Capital by 1.0% in the second quarter. Envestnet Asset Management Inc. now owns 138,171 shares of the company’s stock valued at $1,981,000 after purchasing an additional 1,432 shares in the last quarter. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citizens Jmp dropped their price objective on Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating on the stock in a report on Friday, November 7th. Royal Bank Of Canada lowered their price target on shares of Blue Owl Capital from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Raymond James Financial set a $14.00 price objective on shares of Blue Owl Capital and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Wells Fargo & Company reduced their price objective on shares of Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Finally, Zacks Research cut shares of Blue Owl Capital from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Blue Owl Capital has an average rating of “Moderate Buy” and an average price target of $14.56.

Insiders Place Their Bets

In other news, VP Neena Reddy purchased 7,890 shares of the stock in a transaction on Wednesday, November 26th. The shares were acquired at an average price of $13.06 per share, for a total transaction of $103,043.40. Following the completion of the transaction, the vice president directly owned 7,890 shares of the company’s stock, valued at approximately $103,043.40. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Craig Packer purchased 83,200 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were purchased at an average cost of $11.75 per share, with a total value of $977,600.00. Following the purchase, the chief executive officer owned 41,600 shares of the company’s stock, valued at approximately $488,800. The trade was a -200.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.11% of the stock is owned by corporate insiders.

Blue Owl Capital Stock Performance

Shares of OBDC opened at $12.54 on Wednesday. Blue Owl Capital Corporation has a 12-month low of $11.65 and a 12-month high of $15.73. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.25. The company has a market cap of $6.41 billion, a PE ratio of 8.89 and a beta of 0.65. The stock has a 50-day moving average price of $12.77 and a 200-day moving average price of $13.64.

Blue Owl Capital (NYSE:OBDC) last announced its earnings results on Wednesday, November 5th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Blue Owl Capital had a net margin of 36.89% and a return on equity of 10.58%. The company had revenue of $453.07 million during the quarter, compared to analysts’ expectations of $466.81 million. As a group, equities analysts forecast that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $0.37 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.48 annualized dividend and a yield of 11.8%. Blue Owl Capital’s payout ratio is 104.96%.

Blue Owl Capital Profile

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.