Choreo LLC Invests $1.14 Million in Blue Owl Capital Co. (NYSE:OBDC)

Choreo LLC bought a new stake in shares of Blue Owl Capital Co. (NYSE:OBDC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 74,148 shares of the company’s stock, valued at approximately $1,140,000.

Other large investors also recently added to or reduced their stakes in the company. Stephens Inc. AR bought a new position in shares of Blue Owl Capital during the fourth quarter valued at about $45,575,000. Janney Montgomery Scott LLC purchased a new stake in Blue Owl Capital during the 4th quarter valued at about $23,789,000. Van ECK Associates Corp grew its position in Blue Owl Capital by 19.4% during the 1st quarter. Van ECK Associates Corp now owns 8,150,533 shares of the company’s stock worth $125,355,000 after acquiring an additional 1,326,277 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Blue Owl Capital in the 4th quarter worth approximately $19,635,000. Finally, Goldman Sachs Group Inc. bought a new stake in Blue Owl Capital in the fourth quarter valued at approximately $16,207,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Insider Buying and Selling

In other Blue Owl Capital news, Director Edward H. Dalelio bought 2,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was acquired at an average price of $15.02 per share, with a total value of $37,550.00. Following the completion of the purchase, the director now owns 9,016 shares of the company’s stock, valued at $135,420.32. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.12% of the stock is currently owned by insiders.

Blue Owl Capital Stock Performance

Blue Owl Capital stock opened at $14.72 on Friday. Blue Owl Capital Co. has a fifty-two week low of $12.99 and a fifty-two week high of $16.91. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 7.43 and a beta of 0.87. The stock’s 50 day simple moving average is $15.03 and its two-hundred day simple moving average is $15.51. 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 issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $396.76 million for the quarter, compared to analysts’ expectations of $388.84 million. Blue Owl Capital had a return on equity of 12.66% and a net margin of 43.61%. As a group, analysts expect that Blue Owl Capital Co. will post 1.93 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.63%. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.05. The ex-dividend date is Monday, September 30th. Blue Owl Capital’s dividend payout ratio (DPR) is presently 74.75%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OBDC shares. Wells Fargo & Company decreased 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 research note on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of Blue Owl Capital in a research report on Monday, August 12th. Keefe, Bruyette & Woods dropped their target price on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a report on Tuesday, August 20th. Truist Financial reduced their price target on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Raymond James cut Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. One 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.94.

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.