54,501 Shares in Blue Owl Capital Corporation (NYSE:OBDC) Acquired by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc acquired a new stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 54,501 shares of the company's stock, valued at approximately $799,000.

A number of other hedge funds and other institutional investors have also modified their holdings of OBDC. Bank of New York Mellon Corp grew its position in shares of Blue Owl Capital by 104.6% in the 4th quarter. Bank of New York Mellon Corp now owns 80,539 shares of the company's stock valued at $1,218,000 after buying an additional 41,172 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Blue Owl Capital in the fourth quarter valued at about $125,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Blue Owl Capital by 11.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 276,003 shares of the company's stock valued at $4,173,000 after acquiring an additional 28,960 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Blue Owl Capital in the fourth quarter valued at about $119,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Blue Owl Capital in the fourth quarter valued at about $28,434,000. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Victor Woolridge purchased 6,915 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were acquired at an average price of $14.45 per share, for a total transaction of $99,921.75. Following the completion of the acquisition, the director directly owned 28,191 shares of the company's stock, valued at $407,359.95. The trade was a 32.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by corporate insiders.

Blue Owl Capital Stock Performance

OBDC traded down $0.19 on Monday, hitting $14.44. 3,179,272 shares of the company's stock were exchanged, compared to its average volume of 2,639,595. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.31. Blue Owl Capital Corporation has a twelve month low of $12.11 and a twelve month high of $15.87. The stock has a fifty day moving average of $14.42 and a two-hundred day moving average of $14.62. The firm has a market cap of $7.38 billion, a PE ratio of 9.32 and a beta of 0.72.

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

Blue Owl Capital Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a $0.01 dividend. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 11.51%. Blue Owl Capital's dividend payout ratio is currently 95.48%.

Analyst Ratings Changes

OBDC has been the subject of a number of research reports. B. Riley initiated coverage on shares of Blue Owl Capital in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 target price for the company. Royal Bank Of Canada restated an "outperform" rating and issued a $16.00 target price on shares of Blue Owl Capital in a report on Thursday, May 15th. Jefferies Financial Group assumed coverage on shares of Blue Owl Capital in a research note on Friday, April 11th. They set a "buy" rating and a $16.00 price objective for the company. Keefe, Bruyette & Woods dropped their target price on Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their target price on shares of Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $15.64.

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.