Canton Hathaway LLC Raises Position in Blue Owl Capital Corporation (NYSE:OBDC)

Canton Hathaway LLC raised its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 324.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,640 shares of the company's stock after acquiring an additional 18,070 shares during the period. Canton Hathaway LLC's holdings in Blue Owl Capital were worth $347,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OBDC. Cresset Asset Management LLC boosted its holdings in Blue Owl Capital by 8,188.9% during the 4th quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company's stock valued at $68,762,000 after acquiring an additional 4,385,987 shares during the period. Generali Asset Management SPA SGR acquired a new stake in shares of Blue Owl Capital during the fourth quarter worth about $34,103,000. Raymond James Financial Inc. purchased a new position in shares of Blue Owl Capital in the fourth quarter valued at approximately $28,434,000. Boston Partners grew its holdings in shares of Blue Owl Capital by 76.6% in the fourth quarter. Boston Partners now owns 1,648,101 shares of the company's stock valued at $24,823,000 after purchasing an additional 714,940 shares in the last quarter. Finally, Enstar Group LTD purchased a new stake in Blue Owl Capital during the 4th quarter worth approximately $10,139,000. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Victor Woolridge bought 6,915 shares of the stock in a transaction on Tuesday, May 27th. The shares were bought at an average price of $14.45 per share, with a total value of $99,921.75. Following the completion of the acquisition, the director now owns 28,191 shares of the company's stock, valued at approximately $407,359.95. This trade represents a 32.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Blue Owl Capital Stock Performance

NYSE OBDC traded down $0.23 during trading on Monday, reaching $14.25. The company's stock had a trading volume of 1,108,012 shares, compared to its average volume of 2,610,484. The business's fifty day moving average price is $14.29 and its 200-day moving average price is $14.68. Blue Owl Capital Corporation has a twelve month low of $12.11 and a twelve month high of $15.90. 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 $7.28 billion, a price-to-earnings ratio of 9.20 and a beta of 0.73.

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). Blue Owl Capital had a net margin of 39.42% and a return on equity of 11.72%. The company had revenue of $464.65 million for the quarter, compared to analysts' expectations of $457.88 million. As a group, analysts anticipate that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

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

Blue Owl Capital 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.