Denali Advisors LLC Sells 121,603 Shares of Blue Owl Capital Corporation $OBDC

Denali Advisors LLC trimmed its position in Blue Owl Capital Corporation (NYSE:OBDC) by 19.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 508,615 shares of the company’s stock after selling 121,603 shares during the quarter. Denali Advisors LLC’s holdings in Blue Owl Capital were worth $6,495,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OBDC. Atlantic Union Bankshares Corp bought a new stake in Blue Owl Capital during the third quarter worth $28,000. Assetmark Inc. bought a new stake in shares of Blue Owl Capital during the 3rd quarter worth $38,000. First Horizon Advisors Inc. bought a new stake in shares of Blue Owl Capital during the 2nd quarter worth $40,000. Private Trust Co. NA grew its position in Blue Owl Capital by 86.6% in the second quarter. Private Trust Co. NA now owns 3,123 shares of the company’s stock valued at $45,000 after acquiring an additional 1,449 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in Blue Owl Capital in the third quarter valued at about $47,000. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OBDC has been the topic of a number of research analyst reports. Citizens Jmp reduced their price target on shares of Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating on the stock in a research note on Friday, November 7th. Zacks Research downgraded shares of Blue Owl Capital from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada decreased their target price 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. Wells Fargo & Company lowered their price target on shares of Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Finally, Keefe, Bruyette & Woods cut their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and an average price target of $14.21.

Insiders Place Their Bets

In related news, CEO Craig Packer acquired 83,200 shares of the stock in a transaction dated Tuesday, November 18th. The stock was bought at an average cost of $11.75 per share, for a total transaction of $977,600.00. Following the completion of the transaction, the chief executive officer directly owned 41,600 shares of the company’s stock, valued at $488,800. The trade was a -200.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Neena Reddy acquired 7,890 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was bought at an average cost of $13.06 per share, for a total transaction 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 ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.11% of the company’s stock.

Blue Owl Capital Trading Down 3.2%

Shares of NYSE OBDC opened at $11.48 on Monday. The firm has a 50 day moving average price of $12.42 and a two-hundred day moving average price of $13.00. The stock has a market cap of $5.86 billion, a P/E ratio of 8.14 and a beta of 0.67. Blue Owl Capital Corporation has a 52-week low of $10.70 and a 52-week high of $15.73. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.72 and a current ratio of 0.72.

Blue Owl Capital 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.