Redhawk Wealth Advisors Inc. Buys 17,378 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Redhawk Wealth Advisors Inc. grew its stake in Blue Owl Capital Co. (NYSE:OBDC) by 38.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,242 shares of the company’s stock after acquiring an additional 17,378 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Blue Owl Capital were worth $912,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of OBDC. Royal Bank of Canada grew its holdings in Blue Owl Capital by 9.2% during the fourth quarter. Royal Bank of Canada now owns 7,387,300 shares of the company’s stock worth $111,696,000 after purchasing an additional 620,521 shares during the period. Ameriprise Financial Inc. grew its holdings in Blue Owl Capital by 5.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,786,738 shares of the company’s stock worth $72,361,000 after purchasing an additional 236,467 shares during the period. Cresset Asset Management LLC grew its holdings in Blue Owl Capital by 8,188.9% during the fourth quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company’s stock worth $68,762,000 after purchasing an additional 4,385,987 shares during the period. JPMorgan Chase & Co. grew its holdings in Blue Owl Capital by 7.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,436,706 shares of the company’s stock worth $36,843,000 after purchasing an additional 174,759 shares during the period. Finally, Generali Asset Management SPA SGR bought a new position in Blue Owl Capital during the fourth quarter worth about $34,103,000. Institutional investors own 42.83% of the company’s stock.

Insider Activity

In other Blue Owl Capital news, Director Victor Woolridge purchased 6,915 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was bought at an average cost of $14.45 per share, for a total transaction of $99,921.75. Following the completion of the transaction, the director now owns 28,191 shares in the company, valued at approximately $407,359.95. This represents a 32.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on OBDC shares. Jefferies Financial Group started coverage on Blue Owl Capital in a report on Friday, April 11th. They set a “buy” rating and a $16.00 price target for the company. Keefe, Bruyette & Woods reduced their price target on Blue Owl Capital from $15.10 to $14.50 and set a “market perform” rating for the company in a report on Tuesday, April 8th. B. Riley started coverage on Blue Owl Capital in a report on Tuesday, May 13th. They set a “buy” rating and a $15.00 price target for the company. Wells Fargo & Company reduced their price target on Blue Owl Capital from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $16.00 price objective on shares of Blue Owl Capital in a report on Thursday, May 15th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Blue Owl Capital presently has an average rating of “Buy” and an average price target of $15.64.

Blue Owl Capital Trading Up 0.2%

Shares of NYSE:OBDC opened at $14.76 on Thursday. Blue Owl Capital Co. has a 12-month low of $12.11 and a 12-month high of $16.10. The stock has a market cap of $7.54 billion, a PE ratio of 9.65 and a beta of 0.73. The business has a 50 day moving average of $14.08 and a 200-day moving average of $14.73. The company has a quick ratio of 1.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.25.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Blue Owl Capital had a net margin of 37.26% and a return on equity of 12.38%. The business had revenue of $464.65 million during the quarter, compared to analyst estimates of $457.88 million. As a group, equities research analysts forecast that Blue Owl Capital Co. will post 1.71 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a dividend yield of 11.51%. Blue Owl Capital’s payout ratio is 95.48%.

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.