Van ECK Associates Corp Reduces Holdings in Blue Owl Capital Co. (NYSE:OBDC)

Van ECK Associates Corp lessened its position in shares of Blue Owl Capital Co. (NYSE:OBDC) by 39.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,487,712 shares of the company’s stock after selling 2,984,416 shares during the quarter. Van ECK Associates Corp’s holdings in Blue Owl Capital were worth $67,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in OBDC. SPC Financial Inc. purchased a new position in shares of Blue Owl Capital during the 3rd quarter valued at $149,000. Cornerstone Wealth Management LLC lifted its holdings in Blue Owl Capital by 7.0% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 34,385 shares of the company’s stock worth $501,000 after purchasing an additional 2,256 shares in the last quarter. Naviter Wealth LLC lifted its holdings in Blue Owl Capital by 3.8% during the 3rd quarter. Naviter Wealth LLC now owns 331,729 shares of the company’s stock worth $4,956,000 after purchasing an additional 12,141 shares in the last quarter. nVerses Capital LLC lifted its holdings in Blue Owl Capital by 19.8% during the 3rd quarter. nVerses Capital LLC now owns 9,700 shares of the company’s stock worth $141,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Quad Cities Investment Group LLC purchased a new stake in Blue Owl Capital during the 3rd quarter worth about $148,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Stock Performance

NYSE:OBDC opened at $15.30 on Friday. The business’s 50-day moving average price is $15.09 and its two-hundred day moving average price is $14.98. Blue Owl Capital Co. has a twelve month low of $13.98 and a twelve month high of $16.91. The stock has a market cap of $5.97 billion, a P/E ratio of 9.50 and a beta of 0.83. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.30.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OBDC shares. Citizens Jmp raised Blue Owl Capital to a “strong-buy” rating in a report on Monday, February 3rd. JMP Securities increased their price objective on Blue Owl Capital from $16.50 to $17.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 4th. Wells Fargo & Company increased their price objective 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 reissued an “underperform” rating and set a $14.00 price objective (down previously from $15.50) on shares of Blue Owl Capital in a report on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed 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 given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.08.

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.