Perennial Investment Advisors LLC Purchases 1,615 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Perennial Investment Advisors LLC lifted its stake in shares of Blue Owl Capital Co. (NYSE:OBDC) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 383,543 shares of the company’s stock after purchasing an additional 1,615 shares during the quarter. Blue Owl Capital accounts for about 0.8% of Perennial Investment Advisors LLC’s portfolio, making the stock its 25th largest position. Perennial Investment Advisors LLC owned about 0.10% of Blue Owl Capital worth $5,891,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new stake in Blue Owl Capital during the 4th quarter worth approximately $16,207,000. Corient Private Wealth LLC acquired a new position in shares of Blue Owl Capital in the 4th quarter worth approximately $14,919,000. Citizens Financial Group Inc. RI acquired a new position in shares of Blue Owl Capital during the 1st quarter valued at $1,311,000. Epiq Partners LLC acquired a new position in shares of Blue Owl Capital during the 1st quarter valued at $4,123,000. Finally, UBS Group AG acquired a new position in shares of Blue Owl Capital during the 4th quarter valued at $8,978,000. 42.83% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Edward H. Dalelio purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average cost of $15.02 per share, for a total transaction of $37,550.00. Following the completion of the transaction, the director now directly owns 9,016 shares in the company, valued at $135,420.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.12% of the company’s stock.

Blue Owl Capital Stock Down 0.7 %

NYSE OBDC opened at $14.70 on Tuesday. The stock has a 50 day moving average price of $15.02 and a 200-day moving average price of $15.52. Blue Owl Capital Co. has a one year low of $12.99 and a one year 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. The company has a market capitalization of $5.73 billion, a P/E ratio of 7.42 and a beta of 0.87.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The business had revenue of $396.76 million during the quarter, compared to analysts’ expectations of $388.84 million. Blue Owl Capital had a net margin of 43.61% and a return on equity of 12.66%. As a group, equities analysts predict that Blue Owl Capital Co. will post 1.93 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.06 dividend. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.63%. Blue Owl Capital’s payout ratio is 74.75%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Truist Financial reduced their target price on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Blue Owl Capital in a report on Monday, August 12th. Keefe, Bruyette & Woods lowered their target price on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a research note on Tuesday, August 20th. Raymond James cut shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company cut their target price on shares of Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.94.

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.