Granite FO LLC Invests $1.23 Million in Blue Owl Capital Co. (NYSE:OBDC)

Granite FO LLC acquired a new position in shares of Blue Owl Capital Co. (NYSE:OBDC - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 79,800 shares of the company's stock, valued at approximately $1,226,000. Blue Owl Capital comprises approximately 0.8% of Granite FO LLC's investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Van ECK Associates Corp grew its position in Blue Owl Capital by 19.4% in the 1st quarter. Van ECK Associates Corp now owns 8,150,533 shares of the company's stock valued at $125,355,000 after acquiring an additional 1,326,277 shares in the last quarter. LSV Asset Management grew its position in Blue Owl Capital by 10.4% in the 2nd quarter. LSV Asset Management now owns 4,492,981 shares of the company's stock valued at $69,012,000 after acquiring an additional 423,934 shares in the last quarter. Stephens Inc. AR acquired a new stake in shares of Blue Owl Capital in the fourth quarter valued at $45,575,000. Sound Income Strategies LLC boosted its holdings in Blue Owl Capital by 4.2% in the second quarter. Sound Income Strategies LLC now owns 2,712,077 shares of the company's stock valued at $41,658,000 after purchasing an additional 108,485 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in Blue Owl Capital by 6.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,709,801 shares of the company's stock worth $26,297,000 after purchasing an additional 98,061 shares in the last quarter. 42.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Blue Owl Capital

In related news, Director Edward H. Dalelio purchased 2,500 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average price of $15.02 per share, for a total transaction of $37,550.00. Following the transaction, the director now directly owns 9,016 shares of the company's stock, valued at approximately $135,420.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.12% of the company's stock.

Blue Owl Capital Stock Up 0.7 %

Blue Owl Capital stock traded up $0.10 during midday trading on Friday, reaching $15.00. The company's stock had a trading volume of 2,222,960 shares, compared to its average volume of 1,646,573. Blue Owl Capital Co. has a fifty-two week low of $12.99 and a fifty-two week high of $16.91. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.24. The company has a market cap of $5.85 billion, a P/E ratio of 7.58 and a beta of 0.87. The business has a 50-day simple moving average of $14.89 and a 200-day simple moving average of $15.50.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its 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. Blue Owl Capital had a return on equity of 12.66% and a net margin of 43.61%. The business had revenue of $396.76 million for the quarter, compared to analysts' expectations of $388.84 million. On average, research analysts expect that Blue Owl Capital Co. will post 1.91 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.60%. This is a boost from Blue Owl Capital's previous quarterly dividend of $0.05. Blue Owl Capital's payout ratio is 74.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OBDC shares. Compass Point raised Blue Owl Capital to a "strong-buy" rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods decreased their price target on shares of Blue Owl Capital from $16.00 to $15.50 and set a "market perform" rating for the company in a research note on Tuesday, August 20th. Wells Fargo & Company dropped their price objective on shares of Blue Owl Capital from $15.50 to $14.00 and set an "underweight" rating on the stock in a research report on Friday, August 9th. Raymond James cut shares of Blue Owl Capital from an "outperform" rating to a "market perform" rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $17.00 target price on shares of Blue Owl Capital in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Blue Owl Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.94.

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.