Confluence Investment Management LLC Acquires New Shares in Blue Owl Capital Co. (NYSE:OBDC)

Confluence Investment Management LLC acquired a new stake in shares of Blue Owl Capital Co. (NYSE:OBDC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 304,846 shares of the company's stock, valued at approximately $4,469,000. Confluence Investment Management LLC owned about 0.06% of Blue Owl Capital at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in Blue Owl Capital by 9.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,038 shares of the company's stock valued at $197,000 after purchasing an additional 1,083 shares during the period. JPMorgan Chase & Co. raised its holdings in Blue Owl Capital by 7.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,436,706 shares of the company's stock valued at $36,843,000 after buying an additional 174,759 shares during the period. Wells Fargo & Company MN increased its stake in Blue Owl Capital by 17.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,065,947 shares of the company's stock worth $16,117,000 after purchasing an additional 159,946 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Blue Owl Capital by 5.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,786,738 shares of the company's stock valued at $72,361,000 after buying an additional 236,467 shares during the period. Finally, Carmel Capital Partners LLC increased its stake in shares of Blue Owl Capital by 12.6% during the fourth quarter. Carmel Capital Partners LLC now owns 170,987 shares of the company's stock valued at $2,585,000 after buying an additional 19,108 shares during the period. Hedge funds and other institutional investors own 42.83% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OBDC shares. Citizens Jmp raised Blue Owl Capital to a "strong-buy" rating in a research report on Monday, February 3rd. B. Riley started coverage on Blue Owl Capital in a research report on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price objective for the company. Jefferies Financial Group started coverage on Blue Owl Capital in a research report on Friday, April 11th. They issued a "buy" rating and a $16.00 price objective for the company. Wells Fargo & Company dropped their price target on Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their price target on Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Blue Owl Capital has a consensus rating of "Buy" and a consensus price target of $15.64.

Insider Activity

In other Blue Owl Capital news, Director Chris Temple purchased 15,000 shares of the business's stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $14.80 per share, with a total value of $222,000.00. Following the transaction, the director now directly owns 51,000 shares of the company's stock, valued at $754,800. This represents a 41.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Victor Woolridge bought 6,915 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was purchased at an average cost of $14.45 per share, for a total transaction of $99,921.75. Following the completion of the acquisition, the director now owns 28,191 shares in the company, valued at $407,359.95. This trade represents a 32.50% increase in their position. The disclosure for this purchase can be found here. 0.11% of the stock is owned by company insiders.

Blue Owl Capital Stock Up 0.4%

Shares of NYSE:OBDC traded up $0.06 during midday trading on Tuesday, hitting $14.49. 493,319 shares of the stock were exchanged, compared to its average volume of 2,608,969. Blue Owl Capital Co. has a 52-week low of $12.11 and a 52-week high of $16.91. The business's fifty day simple moving average is $14.08 and its two-hundred day simple moving average is $14.74. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.28 and a current ratio of 1.19. The company has a market capitalization of $7.41 billion, a PE ratio of 9.47 and a beta of 0.71.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). The business had revenue of $464.65 million during the quarter, compared to analyst estimates of $457.88 million. Blue Owl Capital had a net margin of 37.26% and a return on equity of 12.38%. As a group, research analysts predict that Blue Owl Capital Co. will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

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

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.