Apollon Wealth Management LLC Acquires 1,760 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Apollon Wealth Management LLC raised its holdings in shares of Blue Owl Capital Co. (NYSE:OBDC) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,016 shares of the company’s stock after purchasing an additional 1,760 shares during the quarter. Apollon Wealth Management LLC’s holdings in Blue Owl Capital were worth $1,603,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OBDC. Legacy Capital Wealth Partners LLC grew its position in Blue Owl Capital by 96.8% during the third quarter. Legacy Capital Wealth Partners LLC now owns 209,617 shares of the company’s stock valued at $3,054,000 after buying an additional 103,123 shares during the period. Carmel Capital Partners LLC lifted its position in Blue Owl Capital by 10.6% during the third quarter. Carmel Capital Partners LLC now owns 151,879 shares of the company’s stock valued at $2,213,000 after purchasing an additional 14,603 shares during the last quarter. Dudley Capital Management LLC lifted its position in Blue Owl Capital by 6.2% during the third quarter. Dudley Capital Management LLC now owns 64,320 shares of the company’s stock valued at $937,000 after purchasing an additional 3,750 shares during the last quarter. Van ECK Associates Corp lifted its position in Blue Owl Capital by 4.9% during the third quarter. Van ECK Associates Corp now owns 7,472,128 shares of the company’s stock valued at $112,754,000 after purchasing an additional 347,155 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Blue Owl Capital by 3.7% during the third quarter. Chicago Partners Investment Group LLC now owns 538,511 shares of the company’s stock worth $8,126,000 after acquiring an additional 19,280 shares in the last quarter. Institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Stock Up 0.1 %

NYSE OBDC opened at $14.82 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $5.78 billion, a P/E ratio of 9.20 and a beta of 0.86. Blue Owl Capital Co. has a one year low of $13.98 and a one year high of $16.91. The stock has a 50 day moving average price of $14.87 and a 200-day moving average price of $15.37.

Blue Owl Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.37 dividend. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 9.99%. Blue Owl Capital’s dividend payout ratio (DPR) is presently 91.93%.

Analyst Ratings Changes

Several research analysts have commented on OBDC shares. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price target on shares of Blue Owl Capital in a research note on Monday, August 12th. Wells Fargo & Company lifted their target price on shares of Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Truist Financial reduced their price objective on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Raymond James downgraded shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Blue Owl Capital has a consensus rating of “Moderate Buy” and an average target price of $16.07.

Insiders Place Their Bets

In related news, Director Edward H. Dalelio acquired 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average price of $15.02 per share, with a total value of $37,550.00. Following the completion of the transaction, the director now directly owns 9,016 shares in the company, valued at $135,420.32. This trade represents a 38.37 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.12% of the company’s stock.

About Blue Owl Capital

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.