Financial Gravity Asset Management Inc. Buys New Position in Blue Owl Capital Corporation (NYSE:OBDC)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OBDC. Golden State Equity Partners grew its holdings in shares of Blue Owl Capital by 1.7% during the first quarter. Golden State Equity Partners now owns 45,680 shares of the company's stock worth $670,000 after buying an additional 742 shares in the last quarter. Flagship Harbor Advisors LLC boosted its position in Blue Owl Capital by 6.1% during the first quarter. Flagship Harbor Advisors LLC now owns 13,930 shares of the company's stock valued at $204,000 after purchasing an additional 798 shares during the last quarter. Essex Financial Services Inc. boosted its position in Blue Owl Capital by 3.3% during the first quarter. Essex Financial Services Inc. now owns 31,300 shares of the company's stock valued at $459,000 after purchasing an additional 1,000 shares during the last quarter. Tower Research Capital LLC TRC boosted its position 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 last quarter. Finally, Tranquility Partners LLC boosted its position in Blue Owl Capital by 0.8% during the first quarter. Tranquility Partners LLC now owns 153,391 shares of the company's stock valued at $2,249,000 after purchasing an additional 1,210 shares during the last quarter. Institutional investors own 42.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OBDC. Keefe, Bruyette & Woods cut their price objective 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. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of Blue Owl Capital in a research report on Thursday, May 15th. B. Riley began 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 began 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. Finally, Wells Fargo & Company cut their price objective 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. 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 data from MarketBeat.com, Blue Owl Capital presently has an average rating of "Buy" and a consensus target price of $15.64.

Insiders Place Their Bets

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

Blue Owl Capital Stock Performance

NYSE:OBDC traded up $0.25 during mid-day trading on Thursday, hitting $14.65. 4,009,270 shares of the stock were exchanged, compared to its average volume of 2,653,001. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 9.45 and a beta of 0.72. The firm's 50-day simple moving average is $14.45 and its 200 day simple moving average is $14.62. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.13 and a current ratio of 1.13. Blue Owl Capital Corporation has a fifty-two week low of $12.11 and a fifty-two week high of $15.87.

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 the consensus estimate of $457.88 million. Blue Owl Capital had a net margin of 39.42% and a return on equity of 11.72%. As a group, equities 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. Investors of record on Monday, June 2nd were given a dividend of $0.01 per share. 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 currently 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.