Castle Wealth Management LLC Takes $284,000 Position in Blue Owl Capital Corporation (NYSE:OBDC)

Castle Wealth Management LLC purchased a new stake in Blue Owl Capital Corporation (NYSE:OBDC) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 18,905 shares of the company’s stock, valued at approximately $284,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Anchor Investment Management LLC increased its stake in shares of Blue Owl Capital by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 3,000 shares of the company’s stock valued at $45,000 after acquiring an additional 1,500 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Blue Owl Capital in the 4th quarter valued at approximately $48,000. Lazard Asset Management LLC acquired a new position in shares of Blue Owl Capital in the 4th quarter valued at approximately $49,000. Roxbury Financial LLC acquired a new position in shares of Blue Owl Capital in the 1st quarter valued at approximately $50,000. Finally, Versant Capital Management Inc acquired a new position in shares of Blue Owl Capital in the 1st quarter valued at approximately $63,000. 42.83% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Victor Woolridge acquired 6,915 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were bought at an average price of $14.45 per share, for a total transaction of $99,921.75. Following the purchase, the director directly owned 28,191 shares in the company, valued at approximately $407,359.95. This trade represents a 32.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on OBDC. Keefe, Bruyette & Woods decreased their price objective on Blue Owl Capital from $15.10 to $14.50 and set a “market perform” rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group began coverage on Blue Owl Capital in a research report on Friday, April 11th. They issued a “buy” rating and a $16.00 price objective for the company. B. Riley began coverage on Blue Owl Capital in a research report on Tuesday, May 13th. They issued a “buy” rating and a $15.00 price objective for the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $16.00 price objective on shares of Blue Owl Capital in a research report on Thursday, May 15th. Finally, Wells Fargo & Company decreased their price objective on Blue Owl Capital from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.64.

Blue Owl Capital Trading Up 0.7%

NYSE:OBDC opened at $14.49 on Thursday. Blue Owl Capital Corporation has a twelve month low of $12.11 and a twelve month high of $15.87. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.31. The business has a 50 day moving average price of $14.41 and a two-hundred day moving average price of $14.64. The company has a market cap of $7.41 billion, a P/E ratio of 9.35 and a beta of 0.72.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Blue Owl Capital had a return on equity of 11.72% and a net margin of 39.42%. The firm had revenue of $464.65 million for the quarter, compared to analyst estimates of $457.88 million. As a group, analysts expect that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

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

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.