Cornerstone Wealth Management LLC Purchases 1,832 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Cornerstone Wealth Management LLC lifted its position in Blue Owl Capital Co. (NYSE:OBDC) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,217 shares of the company’s stock after acquiring an additional 1,832 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Blue Owl Capital were worth $548,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OBDC. Envestnet Asset Management Inc. increased its holdings in shares of Blue Owl Capital by 13.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 423,169 shares of the company’s stock valued at $6,500,000 after acquiring an additional 50,752 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Blue Owl Capital by 604.7% in the second quarter. EverSource Wealth Advisors LLC now owns 4,172 shares of the company’s stock worth $65,000 after purchasing an additional 3,580 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Blue Owl Capital during the second quarter valued at about $242,000. Squarepoint Ops LLC boosted its holdings in shares of Blue Owl Capital by 102.6% in the 2nd quarter. Squarepoint Ops LLC now owns 74,886 shares of the company’s stock valued at $1,150,000 after buying an additional 37,924 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Blue Owl Capital by 125.4% in the 2nd quarter. Mackenzie Financial Corp now owns 125,475 shares of the company’s stock worth $1,927,000 after buying an additional 69,807 shares during the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on OBDC shares. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $14.00 target price (down previously from $15.50) on shares of Blue Owl Capital in a research report on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price objective on shares of Blue Owl Capital in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company upped their target price 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. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.92.

Blue Owl Capital Price Performance

NYSE OBDC opened at $14.88 on Friday. The stock’s fifty day moving average price is $15.12 and its 200 day moving average price is $15.01. Blue Owl Capital Co. has a 1 year low of $13.98 and a 1 year high of $16.91. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 9.24 and a beta of 0.84.

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

Blue Owl Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.37 dividend. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.06. This represents a $1.48 annualized dividend and a dividend yield of 9.95%. The ex-dividend date was Tuesday, December 31st. Blue Owl Capital’s dividend payout ratio is 91.93%.

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.