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

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Anchor Investment Management LLC lifted its stake in Blue Owl Capital by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 3,000 shares of the company's stock valued at $45,000 after purchasing an additional 1,500 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Blue Owl Capital during the fourth quarter worth $48,000. Lazard Asset Management LLC purchased a new stake in shares of Blue Owl Capital during the fourth quarter worth $49,000. Roxbury Financial LLC purchased a new stake in shares of Blue Owl Capital during the first quarter worth $50,000. Finally, Versant Capital Management Inc purchased a new stake in shares of Blue Owl Capital during the first quarter worth $63,000. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Trading Up 0.3%

Shares of NYSE:OBDC traded up $0.04 on Friday, reaching $14.66. 2,955,017 shares of the company traded hands, compared to its average volume of 2,657,569. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $7.49 billion, a P/E ratio of 9.46 and a beta of 0.72. Blue Owl Capital Corporation has a 52 week low of $12.11 and a 52 week high of $15.87. The business's 50-day simple moving average is $14.46 and its 200 day simple moving average is $14.61.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its 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 return on equity of 11.72% and a net margin of 39.42%. 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. Shareholders 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 payout ratio is 95.48%.

Analyst Ratings Changes

A number of brokerages recently issued reports on OBDC. 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 on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $16.00 price objective on shares of Blue Owl Capital in a research report on Thursday, May 15th. Keefe, Bruyette & Woods lowered their price objective on Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. 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 on the stock. Finally, Wells Fargo & Company reduced 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 note on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $15.64.

Insiders Place Their Bets

In other news, Director Victor Woolridge acquired 6,915 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were acquired at an average cost of $14.45 per share, with a total value of $99,921.75. Following the transaction, the director 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 filing with the SEC, which can be accessed through this link. Insiders own 0.11% of the company's stock.

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.