Next Capital Management LLC Sells 1,214,118 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Next Capital Management LLC reduced its holdings in Blue Owl Capital Co. (NYSE:OBDC - Free Report) by 96.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 40,121 shares of the company's stock after selling 1,214,118 shares during the quarter. Next Capital Management LLC's holdings in Blue Owl Capital were worth $616,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new stake in shares of Blue Owl Capital in the 4th quarter valued at $16,207,000. Citizens Financial Group Inc. RI bought a new stake in shares of Blue Owl Capital in the 1st quarter valued at $1,311,000. Epiq Partners LLC bought a new position in Blue Owl Capital during the first quarter worth $4,123,000. UBS Group AG bought a new position in Blue Owl Capital during the fourth quarter worth $8,978,000. Finally, Chicago Partners Investment Group LLC bought a new position in Blue Owl Capital during the fourth quarter worth $6,549,000. 42.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OBDC has been the topic of several research analyst reports. Compass Point raised shares of Blue Owl Capital to a "strong-buy" rating in a research note on Monday, August 19th. Truist Financial cut their target price on shares of Blue Owl Capital from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada reissued an "outperform" rating and set a $17.00 target price on shares of Blue Owl Capital in a research note on Monday, August 12th. Raymond James lowered shares of Blue Owl Capital from an "outperform" rating to a "market perform" rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company cut their target price on shares of Blue Owl Capital from $15.50 to $14.00 and set an "underweight" rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Blue Owl Capital currently has a consensus rating of "Moderate Buy" and an average price target of $15.94.

Insider Activity at Blue Owl Capital

In other Blue Owl Capital 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 acquired at an average cost of $15.02 per share, for a total transaction of $37,550.00. Following the completion of the acquisition, the director now owns 9,016 shares of the company's stock, valued at approximately $135,420.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.12% of the stock is owned by insiders.

Blue Owl Capital Stock Down 2.8 %

Shares of NYSE:OBDC traded down $0.42 during mid-day trading on Monday, hitting $14.58. 2,135,903 shares of the company traded hands, compared to its average volume of 2,001,186. The stock has a market cap of $5.68 billion, a P/E ratio of 7.35 and a beta of 0.87. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.24. Blue Owl Capital Co. has a 12-month low of $12.99 and a 12-month high of $16.91. The stock has a 50-day moving average price of $14.89 and a two-hundred day moving average price of $15.50.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The company 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%. On average, equities research analysts forecast that Blue Owl Capital Co. will post 1.91 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.06 per share. This is a boost from Blue Owl Capital's previous quarterly dividend of $0.05. The ex-dividend date is Monday, September 30th. This represents a $0.24 annualized dividend and a dividend yield of 1.65%. Blue Owl Capital's payout ratio is presently 74.75%.

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.