SteelPeak Wealth LLC Acquires 1,700 Shares of Blue Owl Capital Co. (NYSE:OBDC)

SteelPeak Wealth LLC lifted its stake in Blue Owl Capital Co. (NYSE:OBDC) by 4.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 37,725 shares of the company’s stock after purchasing an additional 1,700 shares during the period. SteelPeak Wealth LLC’s holdings in Blue Owl Capital were worth $584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in OBDC. Sound Income Strategies LLC raised its position in shares of Blue Owl Capital by 6.4% in the fourth quarter. Sound Income Strategies LLC now owns 3,024,260 shares of the company’s stock worth $45,727,000 after buying an additional 182,002 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Blue Owl Capital by 16.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 334,775 shares of the company’s stock valued at $4,878,000 after acquiring an additional 48,136 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its position in shares of Blue Owl Capital by 96.8% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 209,617 shares of the company’s stock valued at $3,054,000 after acquiring an additional 103,123 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Blue Owl Capital by 11.2% during the third quarter. Franklin Resources Inc. now owns 742,041 shares of the company’s stock worth $11,116,000 after purchasing an additional 74,959 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Blue Owl Capital during the fourth quarter worth about $814,000. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Blue Owl Capital from $14.00 to $14.50 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 target price on shares of Blue Owl Capital in a research report on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $14.00 price target (down previously from $15.50) on shares of Blue Owl Capital in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and an average price target of $15.92.

Blue Owl Capital Stock Performance

NYSE OBDC opened at $15.06 on Friday. The company has a 50-day simple moving average of $15.12 and a two-hundred day simple moving average of $15.00. Blue Owl Capital Co. has a 12-month low of $13.98 and a 12-month high of $16.91. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 9.35 and a beta of 0.84. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.30.

Blue Owl Capital (NYSE:OBDC) last issued its earnings results on Wednesday, November 6th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $406.03 million for the quarter, compared to analysts’ expectations of $399.85 million. Blue Owl Capital had a net margin of 38.99% and a return on equity of 12.59%. During the same quarter in the prior year, the company earned $0.49 earnings per share. On average, equities analysts forecast that Blue Owl Capital Co. will post 1.89 EPS for the current year.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 9.83%. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, December 31st. Blue Owl Capital’s payout ratio is presently 91.93%.

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.