Sterneck Capital Management LLC Acquires New Shares in Blue Owl Capital Co. (NYSE:OBDC)

Sterneck Capital Management LLC bought a new position in shares of Blue Owl Capital Co. (NYSE:OBDC) during the fourth quarter, HoldingsChannel.com reports. The firm bought 16,943 shares of the company’s stock, valued at approximately $256,000.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Blue Owl Capital by 37.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,313 shares of the company’s stock worth $619,000 after acquiring an additional 11,041 shares during the last quarter. National Bank of Canada FI bought a new position in shares of Blue Owl Capital during the second quarter worth $26,000. Private Advisor Group LLC grew its holdings in shares of Blue Owl Capital by 4.1% in the 2nd quarter. Private Advisor Group LLC now owns 147,818 shares of the company’s stock valued at $2,270,000 after buying an additional 5,816 shares during the period. Wedbush Securities Inc. increased its position in shares of Blue Owl Capital by 13.2% in the 2nd quarter. Wedbush Securities Inc. now owns 32,671 shares of the company’s stock valued at $502,000 after buying an additional 3,813 shares in the last quarter. Finally, Choreo LLC acquired a new stake in Blue Owl Capital during the 2nd quarter worth $1,140,000. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on OBDC shares. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $14.00 price target (down from $15.50) on shares of Blue Owl Capital in a report on Thursday, December 12th. Wells Fargo & Company increased their target price on Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Blue Owl Capital in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.86.

Blue Owl Capital Stock Performance

Shares of OBDC opened at $14.91 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.30. Blue Owl Capital Co. has a 12 month low of $13.98 and a 12 month high of $16.91. The firm has a fifty day simple moving average of $15.13 and a 200 day simple moving average of $15.07. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 9.26 and a beta of 0.84.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.37 dividend. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 9.93%. Blue Owl Capital’s dividend payout ratio (DPR) is presently 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.