Naviter Wealth LLC Has $3.01 Million Stock Holdings in Blue Owl Capital Corporation $OBDC

Naviter Wealth LLC cut its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 31.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 234,605 shares of the company’s stock after selling 106,896 shares during the period. Naviter Wealth LLC’s holdings in Blue Owl Capital were worth $3,010,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position in Blue Owl Capital by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company’s stock worth $170,663,000 after buying an additional 757,203 shares during the period. Bank of America Corp DE boosted its position in Blue Owl Capital by 6.5% during the 3rd quarter. Bank of America Corp DE now owns 13,275,411 shares of the company’s stock worth $169,527,000 after buying an additional 811,973 shares during the period. UBS Group AG boosted its position in Blue Owl Capital by 12.7% during the 3rd quarter. UBS Group AG now owns 6,065,592 shares of the company’s stock worth $77,458,000 after buying an additional 681,444 shares during the period. Ameriprise Financial Inc. boosted its position in Blue Owl Capital by 13.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,454,128 shares of the company’s stock worth $69,005,000 after buying an additional 659,025 shares during the period. Finally, Sound Income Strategies LLC boosted its position in Blue Owl Capital by 11.4% during the 4th quarter. Sound Income Strategies LLC now owns 3,779,901 shares of the company’s stock worth $47,665,000 after buying an additional 387,347 shares during the period. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on OBDC. Keefe, Bruyette & Woods cut their target price on shares of Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating on the stock in a research report on Monday, February 23rd. Wall Street Zen upgraded shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Royal Bank Of Canada lowered their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Truist Financial lowered their price target on shares of Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Finally, Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.06.

Blue Owl Capital Stock Down 1.3%

Blue Owl Capital stock opened at $10.90 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.17 and a current ratio of 1.17. Blue Owl Capital Corporation has a 52-week low of $10.52 and a 52-week high of $15.19. The firm has a 50 day moving average price of $11.38 and a two-hundred day moving average price of $12.25. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 8.79 and a beta of 0.65.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm had revenue of $439.50 million during the quarter, compared to analyst estimates of $454.38 million. Blue Owl Capital had a net margin of 33.89% and a return on equity of 10.07%. Equities analysts predict that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 13.6%. Blue Owl Capital’s payout ratio is currently 119.35%.

Blue Owl Capital announced that its board has authorized a stock repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit?investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first?lien senior secured loans, unitranche facilities, second?lien financings, mezzanine debt, and minority equity co-investments.