Global Wealth Management Investment Advisory Inc. Makes New Investment in Blue Owl Capital Corporation (NYSE:OBDC)

Global Wealth Management Investment Advisory 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 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 69,946 shares of the company's stock, valued at approximately $1,025,000.

Other hedge funds also recently made changes to their positions in the company. Anchor Investment Management LLC raised its position in shares of Blue Owl Capital by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 3,000 shares of the company's stock worth $45,000 after acquiring an additional 1,500 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in Blue Owl Capital in the fourth quarter worth approximately $48,000. Lazard Asset Management LLC bought a new stake in Blue Owl Capital in the fourth quarter worth approximately $49,000. Roxbury Financial LLC bought a new stake in Blue Owl Capital in the first quarter worth approximately $50,000. Finally, Versant Capital Management Inc bought a new stake in Blue Owl Capital in the first quarter worth approximately $63,000. 42.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Blue Owl Capital Stock Up 0.3%

Shares of NYSE OBDC traded up $0.05 during midday trading on Friday, hitting $14.54. 1,443,324 shares of the stock traded hands, compared to its average volume of 2,633,029. The company has a market cap of $7.43 billion, a PE ratio of 9.38 and a beta of 0.72. 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 one year low of $12.11 and a one year high of $15.87. The business has a 50 day moving average price of $14.42 and a two-hundred day moving average price of $14.64.

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 the consensus estimate of $0.43 by ($0.04). The company had revenue of $464.65 million for the quarter, compared to analysts' expectations of $457.88 million. Blue Owl Capital had a net margin of 39.42% and a return on equity of 11.72%. On average, equities analysts predict that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Cuts Dividend

The business also recently announced 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 was Friday, May 30th. This represents a dividend yield of 11.51%. Blue Owl Capital's payout ratio is 95.48%.

Insider Activity

In related news, Director Victor Woolridge bought 6,915 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 28,191 shares in the company, valued at approximately $407,359.95. This represents a 32.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.

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.