Financial Gravity Asset Management Inc. Takes $887,000 Position in Blue Owl Capital Corporation (NYSE:OBDC)

Financial Gravity Asset Management Inc. acquired a new stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 60,520 shares of the company's stock, valued at approximately $887,000.

Other large investors have also modified their holdings of the company. Round Rock Advisors LLC raised its position in Blue Owl Capital by 195.6% in the first quarter. Round Rock Advisors LLC now owns 134,586 shares of the company's stock worth $1,973,000 after purchasing an additional 89,054 shares in the last quarter. CFO4Life Group LLC grew its stake in shares of Blue Owl Capital by 60.9% in the 1st quarter. CFO4Life Group LLC now owns 22,336 shares of the company's stock valued at $327,000 after purchasing an additional 8,450 shares during the period. Valeo Financial Advisors LLC raised its holdings in shares of Blue Owl Capital by 2.8% in the 1st quarter. Valeo Financial Advisors LLC now owns 66,829 shares of the company's stock worth $980,000 after buying an additional 1,829 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Blue Owl Capital by 7.6% during the 1st quarter. Stratos Wealth Partners LTD. now owns 28,575 shares of the company's stock worth $419,000 after buying an additional 2,020 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in Blue Owl Capital by 3.0% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 96,984 shares of the company's stock valued at $1,422,000 after buying an additional 2,788 shares in the last quarter. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OBDC has been the subject of several recent analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $16.00 price objective on shares of Blue Owl Capital in a research note on Thursday, May 15th. Jefferies Financial Group assumed coverage on shares of Blue Owl Capital in a report on Friday, April 11th. They issued a "buy" rating and a $16.00 target price on the stock. Wells Fargo & Company cut their price target on shares of 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. B. Riley began coverage on shares of Blue Owl Capital in a research note on Tuesday, May 13th. They set a "buy" rating and a $15.00 price objective on the stock. Finally, Keefe, Bruyette & Woods cut their target price on shares of Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Three 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 stock. According to MarketBeat.com, Blue Owl Capital currently has an average rating of "Buy" and a consensus price target of $15.64.

Insider Buying and Selling

In other news, Director Victor Woolridge bought 6,915 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was bought at an average price of $14.45 per share, for a total transaction of $99,921.75. Following the completion of the transaction, the director directly owned 28,191 shares in the company, valued at $407,359.95. The trade was a 32.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.11% of the company's stock.

Blue Owl Capital Price Performance

NYSE:OBDC traded up $0.04 during mid-day trading on Friday, reaching $14.66. 2,955,017 shares of the company were exchanged, compared to its average volume of 2,657,569. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.31. The stock has a market cap of $7.49 billion, a PE ratio of 9.46 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 company has a fifty day moving average of $14.46 and a 200 day moving average of $14.60.

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

Blue Owl Capital Cuts Dividend

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