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Pettinga Financial Advisors LLC Sells 150,510 Shares of Blue Owl Capital Corporation (NYSE:OBDC)

Blue Owl Capital logo with Finance background

Pettinga Financial Advisors LLC trimmed its position in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 42.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,903 shares of the company's stock after selling 150,510 shares during the period. Pettinga Financial Advisors LLC's holdings in Blue Owl Capital were worth $2,975,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of OBDC. Oregon Public Employees Retirement Fund lifted its stake in Blue Owl Capital by 222.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company's stock valued at $236,007,000 after purchasing an additional 11,098,695 shares during the last quarter. Cresset Asset Management LLC increased its position in shares of Blue Owl Capital by 8,188.9% in the fourth quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company's stock worth $68,762,000 after purchasing an additional 4,385,987 shares during the period. Trustees of Dartmouth College acquired a new position in shares of Blue Owl Capital in the 1st quarter valued at approximately $48,774,000. Generali Asset Management SPA SGR bought a new stake in Blue Owl Capital during the fourth quarter worth $34,103,000. Finally, Raymond James Financial Inc. acquired a new stake in Blue Owl Capital in the fourth quarter valued at about $28,434,000. Institutional investors and hedge funds own 42.83% of the company's stock.

Insider Transactions at Blue Owl Capital

In related news, Director Victor Woolridge purchased 6,915 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was purchased at an average cost of $14.45 per share, with a total value of $99,921.75. Following the completion of the acquisition, the director directly owned 28,191 shares of the company's stock, valued at approximately $407,359.95. The trade was a 32.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is owned by insiders.

Blue Owl Capital Stock Performance

OBDC stock traded up $0.14 during mid-day trading on Thursday, hitting $15.09. The company had a trading volume of 2,256,153 shares, compared to its average volume of 2,667,383. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $7.71 billion, a PE ratio of 9.75 and a beta of 0.72. Blue Owl Capital Corporation has a 12 month low of $12.11 and a 12 month high of $15.87. The stock's fifty day moving average price is $14.53 and its two-hundred day moving average price is $14.60.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $464.65 million during the quarter, compared to analysts' expectations of $457.88 million. Blue Owl Capital had a net margin of 39.42% and a return on equity of 11.72%. On average, analysts forecast that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 11.51%. Blue Owl Capital's dividend payout ratio is 95.48%.

Wall Street Analysts Forecast Growth

OBDC has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their target price on shares of Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group assumed coverage on shares of Blue Owl Capital in a research report on Friday, April 11th. They issued a "buy" rating and a $16.00 price target on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $16.00 target price on shares of Blue Owl Capital in a research note on Thursday, May 15th. B. Riley started coverage on shares of Blue Owl Capital in a research note on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price target for the company. Finally, Wells Fargo & Company lowered their target price on Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $15.64.

Read Our Latest Stock Analysis on Blue Owl Capital

About Blue Owl Capital

(Free Report)

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.

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Institutional Ownership by Quarter for Blue Owl Capital (NYSE:OBDC)

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