Fortem Financial Group LLC Sells 146,307 Shares of Blue Owl Capital Corporation $OBDC

Fortem Financial Group LLC cut its position in Blue Owl Capital Corporation (NYSE:OBDC) by 77.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,888 shares of the company’s stock after selling 146,307 shares during the quarter. Fortem Financial Group LLC’s holdings in Blue Owl Capital were worth $548,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. bought a new stake in shares of Blue Owl Capital in the second quarter valued at about $40,000. Private Trust Co. NA boosted its holdings in Blue Owl Capital by 86.6% in the 2nd quarter. Private Trust Co. NA now owns 3,123 shares of the company’s stock valued at $45,000 after purchasing an additional 1,449 shares during the period. Root Financial Partners LLC acquired a new position in shares of Blue Owl Capital during the 3rd quarter worth approximately $47,000. Allworth Financial LP increased its holdings in shares of Blue Owl Capital by 24,533.3% during the second quarter. Allworth Financial LP now owns 3,695 shares of the company’s stock worth $53,000 after purchasing an additional 3,680 shares during the period. Finally, Westfuller Advisors LLC bought a new position in shares of Blue Owl Capital during the third quarter worth approximately $81,000. Institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Stock Performance

Blue Owl Capital stock opened at $12.00 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.25. The stock has a market cap of $6.13 billion, a PE ratio of 8.51 and a beta of 0.67. Blue Owl Capital Corporation has a 12-month low of $11.65 and a 12-month high of $15.73. The business’s 50-day moving average price is $12.75 and its two-hundred day moving average price is $13.24.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The company had revenue of $453.07 million during the quarter, compared to analyst estimates of $466.81 million. Blue Owl Capital had a net margin of 36.89% and a return on equity of 10.58%. As a group, analysts expect that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.37 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 12.3%. Blue Owl Capital’s dividend payout ratio is 104.96%.

Insiders Place Their Bets

In other news, VP Neena Reddy purchased 7,890 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were purchased at an average cost of $13.06 per share, with a total value of $103,043.40. Following the completion of the purchase, the vice president owned 7,890 shares of the company’s stock, valued at $103,043.40. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Craig Packer acquired 83,200 shares of the stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average cost of $11.75 per share, with a total value of $977,600.00. Following the purchase, the chief executive officer directly owned 41,600 shares of the company’s stock, valued at $488,800. This trade represents a -200.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

OBDC has been the topic of a number of analyst reports. Citizens Jmp reduced their price target on Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating on the stock in a research report on Friday, November 7th. Keefe, Bruyette & Woods reduced their target price on Blue Owl Capital from $14.50 to $13.50 and set a “market perform” rating on the stock in a report on Monday, November 10th. Wells Fargo & Company dropped their price target on Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Royal Bank Of Canada reduced their price objective on shares of Blue Owl Capital from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 26th. Finally, Zacks Research cut shares of Blue Owl Capital from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.56.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.