Naviter Wealth LLC Sells 66,540 Shares of Blue Owl Capital Corporation $OBDC

Naviter Wealth LLC reduced its holdings in Blue Owl Capital Corporation (NYSE:OBDC) by 16.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 341,501 shares of the company’s stock after selling 66,540 shares during the period. Naviter Wealth LLC owned 0.07% of Blue Owl Capital worth $4,487,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Atlantic Union Bankshares Corp bought a new position in shares of Blue Owl Capital in the third quarter valued at $28,000. Assetmark Inc. acquired a new stake in Blue Owl Capital in the third quarter valued at $38,000. First Horizon Advisors Inc. bought a new position in shares of Blue Owl Capital in the 2nd quarter valued at about $40,000. Private Trust Co. NA grew its position in shares of 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 acquiring an additional 1,449 shares during the period. Finally, Root Financial Partners LLC acquired a new position in shares of Blue Owl Capital during the 3rd quarter worth about $47,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Analyst Ratings Changes

OBDC has been the subject of several recent analyst reports. 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. Citizens Jmp dropped their price objective on 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. Wells Fargo & Company cut their price objective on Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. Royal Bank Of Canada reduced their target price on Blue Owl Capital from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, November 26th. Finally, Keefe, Bruyette & Woods cut their price target on Blue Owl Capital from $14.50 to $13.50 and set a “market perform” rating for the company in a report on Monday, November 10th. Two 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.21.

Blue Owl Capital Stock Performance

OBDC opened at $11.48 on Friday. 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 Corporation has a 52-week low of $10.70 and a 52-week high of $15.73. The firm has a market cap of $5.86 billion, a P/E ratio of 8.14 and a beta of 0.67. The business’s fifty day moving average is $12.42 and its 200-day moving average is $13.02.

Insider Activity at Blue Owl Capital

In other Blue Owl Capital news, CEO Craig Packer purchased 83,200 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were bought at an average price of $11.75 per share, for a total transaction of $977,600.00. Following the purchase, the chief executive officer owned 41,600 shares in the company, valued at approximately $488,800. This trade represents a -200.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Neena Reddy purchased 7,890 shares of the stock in a transaction dated Wednesday, November 26th. The shares were acquired at an average cost of $13.06 per share, with a total value of $103,043.40. Following the acquisition, the vice president directly owned 7,890 shares in the company, valued at $103,043.40. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.11% of the stock is currently owned by insiders.

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.