Van ECK Associates Corp Decreases Holdings in Blue Owl Capital Co. (NYSE:OBDC)

Van ECK Associates Corp trimmed its holdings in Blue Owl Capital Co. (NYSE:OBDC) by 12.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,124,973 shares of the company’s stock after selling 1,025,560 shares during the quarter. Van ECK Associates Corp’s holdings in Blue Owl Capital were worth $109,440,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in OBDC. Heritage Wealth Advisors acquired a new stake in shares of Blue Owl Capital in the 4th quarter valued at about $32,000. CWM LLC raised its position in Blue Owl Capital by 98.6% in the 2nd quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after purchasing an additional 1,032 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Blue Owl Capital during the 4th quarter worth $38,000. Headlands Technologies LLC acquired a new position in Blue Owl Capital in the first quarter valued at $40,000. Finally, Spire Wealth Management purchased a new stake in shares of Blue Owl Capital in the fourth quarter valued at about $45,000. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Blue Owl Capital

In related news, Director Edward H. Dalelio acquired 2,500 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average price of $15.02 per share, with a total value of $37,550.00. Following the purchase, the director now directly owns 9,016 shares in the company, valued at approximately $135,420.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.12% of the company’s stock.

Blue Owl Capital Price Performance

Shares of NYSE OBDC traded up $0.12 on Friday, hitting $15.16. The company’s stock had a trading volume of 4,019,143 shares, compared to its average volume of 2,041,527. 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 stock has a 50 day moving average of $15.17 and a 200-day moving average of $15.52. Blue Owl Capital Co. has a 12-month low of $12.99 and a 12-month high of $16.91. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 7.65 and a beta of 0.87.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The company had revenue of $396.76 million during the quarter, compared to analysts’ expectations of $388.84 million. Blue Owl Capital had a return on equity of 12.66% and a net margin of 43.61%. As a group, research analysts predict that Blue Owl Capital Co. will post 1.92 EPS for the current year.

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 issued a $0.06 dividend. The ex-dividend date is Friday, August 30th. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.58%. Blue Owl Capital’s payout ratio is 74.75%.

Analyst Ratings Changes

Several brokerages recently issued reports on OBDC. Compass Point upgraded Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Raymond James lowered Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Keefe, Bruyette & Woods decreased their price target on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a report on Tuesday, August 20th. Truist Financial cut their price objective on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Hovde Group lifted their target price 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 analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.94.

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.