Transcend Capital Advisors LLC Takes $56.35 Million Position in Blue Owl Capital Co. (NYSE:OBDC)

Transcend Capital Advisors LLC acquired a new position in Blue Owl Capital Co. (NYSE:OBDC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,818,017 shares of the company's stock, valued at approximately $56,354,000. Blue Owl Capital comprises about 5.0% of Transcend Capital Advisors LLC's holdings, making the stock its 2nd biggest holding. Transcend Capital Advisors LLC owned 0.98% of Blue Owl Capital at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State of New Jersey Common Pension Fund E purchased a new position in Blue Owl Capital during the fourth quarter valued at approximately $335,810,000. Regents of The University of California purchased a new position in Blue Owl Capital during the fourth quarter valued at approximately $258,421,000. Sound Income Strategies LLC purchased a new position in Blue Owl Capital during the fourth quarter valued at approximately $36,311,000. Strs Ohio purchased a new position in Blue Owl Capital during the fourth quarter valued at approximately $32,449,000. Finally, Border to Coast Pensions Partnership Ltd purchased a new position in Blue Owl Capital during the fourth quarter valued at approximately $30,477,000. Hedge funds and other institutional investors own 42.83% of the company's stock.

Wall Street Analysts Forecast Growth

OBDC has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on shares of Blue Owl Capital from $13.00 to $14.50 and gave the stock an "underweight" rating in a report on Monday, January 29th. B. Riley downgraded shares of Blue Owl Capital from a "buy" rating to a "neutral" rating and set a $15.50 target price on the stock. in a report on Monday, January 8th. Finally, JMP Securities reissued a "market outperform" rating and issued a $16.00 target price on shares of Blue Owl Capital in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $15.50.

Insider Buying and Selling at Blue Owl Capital

In other news, Director Edward H. Dalelio acquired 3,000 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were acquired at an average price of $15.07 per share, for a total transaction of $45,210.00. Following the completion of the transaction, the director now directly owns 6,217 shares of the company's stock, valued at approximately $93,690.19. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.12% of the company's stock.

Blue Owl Capital Price Performance

OBDC traded up $0.18 during trading hours on Friday, hitting $15.93. The company's stock had a trading volume of 1,546,877 shares, compared to its average volume of 1,938,436. The business's 50-day moving average price is $15.32 and its 200-day moving average price is $14.81. Blue Owl Capital Co. has a 12 month low of $12.20 and a 12 month high of $15.95. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 7.85 and a beta of 0.91. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.18.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. Blue Owl Capital had a net margin of 50.14% and a return on equity of 12.62%. The company had revenue of $411.23 million for the quarter, compared to analysts' expectations of $397.42 million. Sell-side analysts expect that Blue Owl Capital Co. will post 1.9 earnings per share for the current fiscal year.

Blue Owl Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, February 29th. Blue Owl Capital's dividend payout ratio (DPR) is 68.97%.

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.