Condor Capital Management Grows Stock Holdings in Blue Owl Capital Co. (NYSE:OBDC)

Condor Capital Management lifted its holdings in Blue Owl Capital Co. (NYSE:OBDC) by 8.8% in the second quarter, HoldingsChannel reports. The firm owned 435,563 shares of the company’s stock after buying an additional 35,319 shares during the quarter. Condor Capital Management’s holdings in Blue Owl Capital were worth $6,690,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of OBDC. National Bank of Canada FI acquired a new stake in Blue Owl Capital during the 2nd quarter worth $26,000. CWM LLC increased its holdings in Blue Owl Capital by 98.6% during the 2nd quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after acquiring an additional 1,032 shares in the last quarter. Heritage Wealth Advisors purchased a new stake in shares of Blue Owl Capital in the fourth quarter valued at $32,000. Headlands Technologies LLC acquired a new stake in shares of Blue Owl Capital in the first quarter worth approximately $40,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Blue Owl Capital during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Trading Up 0.5 %

Shares of NYSE:OBDC opened at $14.80 on Friday. The firm has a fifty day moving average price of $15.03 and a 200 day moving average price of $15.51. 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 1 year low of $12.99 and a 1 year high of $16.91. The stock has a market capitalization of $5.77 billion, a PE ratio of 7.47 and a beta of 0.87.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The business had revenue of $396.76 million during 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%. Analysts expect that Blue Owl Capital Co. will post 1.93 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.06 dividend. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, September 30th. Blue Owl Capital’s dividend payout ratio is currently 74.75%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company cut their price target on 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. Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research note on Monday, August 19th. Truist Financial reduced their price objective on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company 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 note on Friday, August 9th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and an average price target of $15.94.

Insider Buying and Selling

In related news, Director Edward H. Dalelio acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of $15.02 per share, with a total value of $37,550.00. Following the acquisition, the director now directly owns 9,016 shares in the company, valued at $135,420.32. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.12% of the stock is owned by corporate insiders.

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.