Cornerstone Wealth Management LLC Purchases 2,256 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Cornerstone Wealth Management LLC lifted its position in shares of Blue Owl Capital Co. (NYSE:OBDC) by 7.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 34,385 shares of the company’s stock after acquiring an additional 2,256 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Blue Owl Capital were worth $501,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new position in Blue Owl Capital in the 4th quarter worth about $16,207,000. Citizens Financial Group Inc. RI bought a new position in Blue Owl Capital in the 1st quarter worth about $1,311,000. Epiq Partners LLC bought a new position in Blue Owl Capital in the 1st quarter worth about $4,123,000. Sound Income Strategies LLC boosted its stake in Blue Owl Capital by 5.8% in the 1st quarter. Sound Income Strategies LLC now owns 2,603,592 shares of the company’s stock worth $40,043,000 after purchasing an additional 143,520 shares during the period. Finally, Cetera Investment Advisers boosted its stake in Blue Owl Capital by 154.4% in the 1st quarter. Cetera Investment Advisers now owns 111,707 shares of the company’s stock worth $1,718,000 after purchasing an additional 67,799 shares during the period. Institutional investors own 42.83% of the company’s stock.

Analysts Set New Price Targets

OBDC has been the topic of several recent analyst reports. Raymond James cut Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Blue Owl Capital in a report on Monday, August 12th. Compass Point raised Blue Owl Capital to a “strong-buy” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods lowered their price target on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a report on Tuesday, August 20th. Finally, Truist Financial lowered 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Blue Owl Capital has a consensus rating of “Moderate Buy” and a consensus price target of $15.94.

Insider Transactions at Blue Owl Capital

In other Blue Owl Capital news, Director Edward H. Dalelio acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $15.02 per share, for a total transaction of $37,550.00. Following the transaction, the director now owns 9,016 shares in the company, valued at $135,420.32. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.12% of the company’s stock.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $15.10 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50 day simple moving average is $14.79 and its two-hundred day simple moving average is $15.45. The stock has a market capitalization of $5.88 billion, a P/E ratio of 8.44 and a beta of 0.87. Blue Owl Capital Co. has a one year low of $12.99 and a one year high of $16.91.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings results 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 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%. Analysts forecast that Blue Owl Capital Co. will post 1.91 EPS for the current year.

Blue Owl Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.06 dividend. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Monday, September 30th. Blue Owl Capital’s dividend payout ratio (DPR) is currently 82.68%.

Blue Owl Capital 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.