Salem Investment Counselors Inc. Decreases Position in Blue Owl Capital Co. (NYSE:OBDC)

Salem Investment Counselors Inc. cut its stake in shares of Blue Owl Capital Co. (NYSE:OBDC) by 11.6% during the fourth quarter, HoldingsChannel reports. The firm owned 329,975 shares of the company’s stock after selling 43,270 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Blue Owl Capital were worth $4,992,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OBDC. Bank of New York Mellon Corp raised its position in Blue Owl Capital by 37.7% during the second quarter. Bank of New York Mellon Corp now owns 40,313 shares of the company’s stock valued at $619,000 after purchasing an additional 11,041 shares during the period. National Bank of Canada FI purchased a new stake in shares of Blue Owl Capital in the second quarter worth approximately $26,000. Zions Bancorporation N.A. purchased a new stake in shares of Blue Owl Capital in the second quarter worth approximately $61,000. Fiduciary Group LLC raised its holdings in shares of Blue Owl Capital by 42.4% in the second quarter. Fiduciary Group LLC now owns 15,237 shares of the company’s stock worth $234,000 after buying an additional 4,536 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Blue Owl Capital by 13.6% in the second quarter. Envestnet Asset Management Inc. now owns 423,169 shares of the company’s stock worth $6,500,000 after buying an additional 50,752 shares during the period. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

Blue Owl Capital Trading Up 1.4 %

OBDC traded up $0.20 during trading on Monday, hitting $14.75. 1,336,421 shares of the stock were exchanged, compared to its average volume of 1,914,539. The firm has a 50 day simple moving average of $15.11 and a 200 day simple moving average of $15.05. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 9.16 and a beta of 0.84. 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 quick ratio of 1.28 and a current ratio of 1.28.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 10.03%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.06. Blue Owl Capital’s dividend payout ratio (DPR) is 91.93%.

Analysts Set New Price Targets

OBDC has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target on Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods reiterated 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price target on shares of Blue Owl Capital in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.92.

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.