MAI Capital Management Sells 23,927 Shares of Blue Owl Capital Co. (NYSE:OBDC)

MAI Capital Management trimmed its holdings in Blue Owl Capital Co. (NYSE:OBDC) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,381 shares of the company’s stock after selling 23,927 shares during the quarter. MAI Capital Management’s holdings in Blue Owl Capital were worth $7,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Boston Partners purchased a new position in shares of Blue Owl Capital during the first quarter valued at approximately $15,010,000. LSV Asset Management raised its stake in Blue Owl Capital by 10.4% during the second quarter. LSV Asset Management now owns 4,492,981 shares of the company’s stock valued at $69,012,000 after buying an additional 423,934 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Blue Owl Capital by 4.9% in the third quarter. Van ECK Associates Corp now owns 7,472,128 shares of the company’s stock worth $112,754,000 after acquiring an additional 347,155 shares in the last quarter. Trinity Financial Advisors LLC grew its stake in shares of Blue Owl Capital by 32.3% in the third quarter. Trinity Financial Advisors LLC now owns 883,274 shares of the company’s stock worth $12,471,000 after acquiring an additional 215,742 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Blue Owl Capital during the second quarter valued at $2,667,000. 42.83% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Price Performance

Shares of OBDC opened at $14.92 on Tuesday. The firm has a market cap of $5.82 billion, a PE ratio of 9.27 and a beta of 0.86. Blue Owl Capital Co. has a 1-year low of $13.98 and a 1-year high of $16.91. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.30. The firm has a fifty day simple moving average of $14.88 and a two-hundred day simple moving average of $15.35.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.37 dividend. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 9.92%. Blue Owl Capital’s dividend payout ratio is currently 91.93%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OBDC shares. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price objective on shares of Blue Owl Capital in a research report on Monday, August 12th. Raymond James cut shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Wells Fargo & Company upped their price objective on Blue Owl Capital from $14.00 to $14.50 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods reduced their target price on 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. 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 given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.07.

Insiders Place Their Bets

In other Blue Owl Capital news, Director Edward H. Dalelio purchased 2,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were acquired 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 owns 9,016 shares of the company’s stock, valued at approximately $135,420.32. The trade was a 38.37 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.12% of the company’s stock.

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.