Legacy Capital Wealth Partners LLC Invests $1.59 Million in Blue Owl Capital Co. (NYSE:OBDC)

Legacy Capital Wealth Partners LLC bought a new stake in Blue Owl Capital Co. (NYSE:OBDC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 107,657 shares of the company’s stock, valued at approximately $1,589,000.

Several other institutional investors have also added to or reduced their stakes in OBDC. State of New Jersey Common Pension Fund E bought a new stake in Blue Owl Capital in the fourth quarter valued at approximately $335,810,000. Regents of The University of California purchased a new stake in shares of Blue Owl Capital during the 4th quarter valued at $258,421,000. Transcend Capital Advisors LLC purchased a new stake in shares of Blue Owl Capital during the 4th quarter valued at $56,354,000. Sound Income Strategies LLC purchased a new stake in shares of Blue Owl Capital during the 4th quarter valued at $36,311,000. Finally, Strs Ohio bought a new position in shares of Blue Owl Capital during the 4th quarter worth $32,449,000. 42.83% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Edward H. Dalelio acquired 3,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average cost of $15.07 per share, with a total value of $45,210.00. Following the purchase, the director now directly owns 6,217 shares of the company’s stock, valued at $93,690.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Blue Owl Capital from $13.00 to $14.50 and gave the stock an “underweight” rating in a research note on Monday, January 29th. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 target price on shares of Blue Owl Capital in a report on Tuesday, March 26th. Finally, B. Riley lowered Blue Owl Capital from a “buy” rating to a “neutral” rating and set a $15.50 target price for the company. in a report on Monday, January 8th. One investment 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.50.

Blue Owl Capital Stock Performance

Shares of NYSE OBDC traded up $0.18 during trading on Friday, hitting $15.93. The company had a trading volume of 1,546,877 shares, compared to its average volume of 1,938,436. The stock has a 50 day simple moving average of $15.32 and a 200 day simple moving average of $14.82. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.60 and a current ratio of 1.60. Blue Owl Capital Co. has a 12 month low of $12.20 and a 12 month high of $15.95. The firm has a market capitalization of $6.21 billion, a P/E ratio of 7.85 and a beta of 0.91.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $411.23 million for the quarter, compared to the consensus estimate of $397.42 million. Blue Owl Capital had a return on equity of 12.62% and a net margin of 50.14%. As a group, analysts anticipate that Blue Owl Capital Co. will post 1.9 earnings per share for the current year.

Blue Owl Capital Dividend Announcement

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

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.