Naviter Wealth LLC Buys 59,685 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• Naviter Wealth LLC increased its holdings in Blue Owl Capital Corporation by 17.1%, acquiring an additional 59,685 shares in the second quarter, which now represents about 0.7% of its total investment portfolio.
• Blue Owl Capital recently declared a quarterly dividend of $0.02 per share, up from $0.01, marking a 0.6% yield and a dividend payout ratio of 98.01%.
• The stock has received positive analyst ratings, with a current consensus of “Buy” and an average price target of $15.21, indicating growth potential.

Naviter Wealth LLC grew its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 17.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 408,041 shares of the company's stock after acquiring an additional 59,685 shares during the period. Blue Owl Capital comprises approximately 0.7% of Naviter Wealth LLC's investment portfolio, making the stock its 25th biggest holding. Naviter Wealth LLC owned approximately 0.08% of Blue Owl Capital worth $5,998,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Golden State Equity Partners raised its stake 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 valued at $670,000 after acquiring an additional 742 shares in the last quarter. BlueStem Wealth Partners LLC raised its stake in shares of Blue Owl Capital by 2.5% during the first quarter. BlueStem Wealth Partners LLC now owns 32,741 shares of the company's stock valued at $480,000 after acquiring an additional 784 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of 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 acquiring an additional 798 shares in the last quarter. NorthRock Partners LLC raised its stake in shares of Blue Owl Capital by 5.4% during the second quarter. NorthRock Partners LLC now owns 19,106 shares of the company's stock valued at $281,000 after acquiring an additional 975 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of Blue Owl Capital by 2.7% during the first quarter. Avantax Advisory Services Inc. now owns 37,392 shares of the company's stock valued at $548,000 after acquiring an additional 996 shares in the last quarter. Institutional investors own 42.83% of the company's stock.

Blue Owl Capital Stock Performance

Shares of NYSE:OBDC opened at $12.51 on Tuesday. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 8.28 and a beta of 0.75. Blue Owl Capital Corporation has a 52 week low of $12.04 and a 52 week high of $15.73. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.20. The firm has a 50 day moving average of $13.73 and a 200 day moving average of $14.10.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. The company had revenue of $485.84 million during the quarter, compared to the consensus estimate of $480.42 million. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. On average, sell-side analysts predict that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.02 dividend. This is an increase from Blue Owl Capital's previous quarterly dividend of $0.01. This represents a $0.08 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 29th. Blue Owl Capital's dividend payout ratio is presently 98.01%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OBDC. LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a "strong-buy" rating in a research note on Friday, August 8th. Raymond James Financial set a $14.00 price objective on shares of Blue Owl Capital and gave the stock an "outperform" rating in a research note on Tuesday, October 7th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $15.21.

About Blue Owl Capital

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.

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