Lake Street Advisors Group LLC Makes New Investment in Blue Owl Capital Co. (NYSE:OBDC)

Lake Street Advisors Group LLC bought a new stake in Blue Owl Capital Co. (NYSE:OBDC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,500 shares of the company’s stock, valued at approximately $354,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Heritage Wealth Advisors acquired a new stake in Blue Owl Capital in the 4th quarter worth about $32,000. Headlands Technologies LLC bought a new position in shares of Blue Owl Capital during the first quarter worth approximately $40,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Blue Owl Capital in the fourth quarter valued at approximately $38,000. Spire Wealth Management bought a new stake in shares of Blue Owl Capital in the fourth quarter valued at approximately $45,000. Finally, Retirement Group LLC grew its position in Blue Owl Capital by 216.8% during the first quarter. Retirement Group LLC now owns 3,105 shares of the company’s stock worth $48,000 after buying an additional 2,125 shares in the last quarter. Institutional investors and hedge funds own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

OBDC traded down $0.15 on Wednesday, reaching $15.30. The stock had a trading volume of 1,278,021 shares, compared to its average volume of 1,980,236. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 7.72 and a beta of 0.87. Blue Owl Capital Co. has a fifty-two week low of $12.99 and a fifty-two week high of $16.91. The firm has a 50-day moving average of $15.96 and a 200-day moving average of $15.54.

Blue Owl Capital (NYSE:OBDC) last released 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). Blue Owl Capital had a net margin of 48.25% and a return on equity of 12.64%. The firm had revenue of $399.58 million during the quarter, compared to analyst estimates of $399.16 million. As a group, sell-side analysts anticipate that Blue Owl Capital Co. will post 1.88 EPS for the current year.

Blue Owl Capital Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, June 14th. Stockholders 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 of this dividend was Friday, May 31st. Blue Owl Capital’s payout ratio is currently 74.75%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Blue Owl Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Truist Financial raised their target price on shares of Blue Owl Capital from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, May 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $16.00 price target on shares of Blue Owl Capital in a report on Thursday, May 23rd. Hovde Group lifted their price objective on shares of Blue Owl Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Finally, JMP Securities restated a “market outperform” rating and set a $16.00 price objective on shares of Blue Owl Capital in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Blue Owl Capital currently has an average rating of “Moderate Buy” and a consensus target price of $16.19.

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.