Salem Investment Counselors Inc. Sells 43,270 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Salem Investment Counselors Inc. decreased its holdings in Blue Owl Capital Co. (NYSE:OBDC) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,975 shares of the company’s stock after selling 43,270 shares during the period. Salem Investment Counselors Inc. owned about 0.08% of Blue Owl Capital worth $4,992,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of OBDC. National Bank of Canada FI bought a new stake in shares of Blue Owl Capital in the second quarter worth $26,000. Zions Bancorporation N.A. purchased a new position in Blue Owl Capital during the second quarter valued at $61,000. EverSource Wealth Advisors LLC lifted its position in Blue Owl Capital by 604.7% during the second quarter. EverSource Wealth Advisors LLC now owns 4,172 shares of the company’s stock valued at $65,000 after purchasing an additional 3,580 shares in the last quarter. nVerses Capital LLC lifted its position in Blue Owl Capital by 19.8% during the third quarter. nVerses Capital LLC now owns 9,700 shares of the company’s stock valued at $141,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Quad Cities Investment Group LLC purchased a new position in Blue Owl Capital during the third quarter valued at $148,000. Institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

Shares of NYSE:OBDC traded up $0.20 during mid-day trading on Monday, reaching $14.75. The stock had a trading volume of 1,336,421 shares, compared to its average volume of 1,914,539. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.30. The company has a market cap of $5.76 billion, a P/E ratio of 9.16 and a beta of 0.84. Blue Owl Capital Co. has a 1 year low of $13.98 and a 1 year high of $16.91. The business’s 50 day moving average price is $15.11 and its 200 day moving average price is $15.05.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.37 dividend. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.06. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.03%. The ex-dividend date is Tuesday, December 31st. Blue Owl Capital’s payout ratio is currently 91.93%.

Analyst Upgrades and Downgrades

OBDC has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $14.00 target price (down from $15.50) on shares of Blue Owl Capital in a research report on Thursday, December 12th. Wells Fargo & Company boosted their price objective on Blue Owl Capital from $14.00 to $14.50 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of Blue Owl Capital in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.92.

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.