Pallas Capital Advisors LLC Raises Stock Position in Blue Owl Capital Co. (NYSE:OBDC)

Pallas Capital Advisors LLC raised its stake in shares of Blue Owl Capital Co. (NYSE:OBDC) by 11.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 50,372 shares of the company’s stock after buying an additional 5,002 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Blue Owl Capital were worth $766,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Bank of Canada FI bought a new position in shares of Blue Owl Capital in the 2nd quarter worth approximately $26,000. CWM LLC increased its holdings in Blue Owl Capital by 98.6% during the second quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after buying an additional 1,032 shares during the last quarter. Headlands Technologies LLC bought a new position in Blue Owl Capital in the first quarter worth approximately $40,000. Retirement Group LLC grew its position in shares of Blue Owl Capital by 216.8% during the 1st quarter. Retirement Group LLC now owns 3,105 shares of the company’s stock valued at $48,000 after acquiring an additional 2,125 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in shares of Blue Owl Capital in the 2nd quarter worth $61,000. 42.83% of the stock is owned by institutional investors.

Insider Transactions at Blue Owl Capital

In other Blue Owl Capital news, Director Edward H. Dalelio bought 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $15.02 per share, with a total value of $37,550.00. Following the completion of the acquisition, the director now owns 9,016 shares in the company, valued at $135,420.32. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

OBDC has been the topic of several analyst reports. Truist Financial lowered their target price on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Compass Point upgraded Blue Owl Capital to a “strong-buy” rating in a research note on Monday, August 19th. Raymond James cut shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods dropped their price target on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company raised their price objective on shares of Blue Owl Capital from $14.00 to $14.50 and gave the company an “underweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Blue Owl Capital Price Performance

Shares of NYSE:OBDC opened at $15.13 on Thursday. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 8.45 and a beta of 0.87. The firm has a fifty day moving average price of $14.90 and a 200 day moving average price of $15.43. Blue Owl Capital Co. has a fifty-two week low of $13.15 and a fifty-two week high of $16.91. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.84 and a current ratio of 0.84.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. Blue Owl Capital had a net margin of 43.61% and a return on equity of 12.66%. The business had revenue of $396.76 million during the quarter, compared to the consensus estimate of $388.84 million. As a group, sell-side analysts expect that Blue Owl Capital Co. will post 1.91 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.06 dividend. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.59%. Blue Owl Capital’s payout ratio is presently 82.68%.

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.