Naviter Wealth LLC Sells 66,540 Shares of Blue Owl Capital Corporation $OBDC

Naviter Wealth LLC trimmed its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 16.3% in the third quarter, Holdings Channel.com reports. The firm owned 341,501 shares of the company’s stock after selling 66,540 shares during the quarter. Naviter Wealth LLC’s holdings in Blue Owl Capital were worth $4,487,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of Blue Owl Capital by 25.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,924,363 shares of the company’s stock worth $28,211,000 after buying an additional 384,641 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Blue Owl Capital in the 1st quarter worth about $6,641,000. Blair William & Co. IL increased its holdings in Blue Owl Capital by 14.4% in the 2nd quarter. Blair William & Co. IL now owns 51,674 shares of the company’s stock worth $741,000 after purchasing an additional 6,500 shares in the last quarter. Aberdeen Group plc raised its position in Blue Owl Capital by 4.0% in the second quarter. Aberdeen Group plc now owns 202,091 shares of the company’s stock valued at $2,893,000 after purchasing an additional 7,696 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Blue Owl Capital by 17.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 14,700 shares of the company’s stock valued at $211,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

OBDC stock opened at $11.48 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.25. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 8.14 and a beta of 0.67. The company’s fifty day simple moving average is $12.42 and its 200 day simple moving average is $13.02. Blue Owl Capital Corporation has a 12-month low of $10.70 and a 12-month high of $15.73.

Insider Transactions at Blue Owl Capital

In other Blue Owl Capital news, VP Neena Reddy bought 7,890 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were bought at an average price of $13.06 per share, for a total transaction of $103,043.40. Following the transaction, the vice president directly owned 7,890 shares in the company, valued at approximately $103,043.40. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Craig Packer bought 83,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were acquired at an average cost of $11.75 per share, with a total value of $977,600.00. Following the purchase, the chief executive officer directly owned 41,600 shares of the company’s stock, valued at $488,800. This trade represents a -200.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OBDC. Citizens Jmp dropped their price objective on shares of Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating for the company in a report on Friday, November 7th. Royal Bank Of Canada dropped their price target on shares of Blue Owl Capital from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, November 26th. 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 on the stock in a research note on Friday, November 7th. Zacks Research downgraded Blue Owl Capital from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods cut their target price on Blue Owl Capital from $14.50 to $13.50 and set a “market perform” rating on the stock in a report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.21.

Blue Owl Capital Company 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.