Apollon Wealth Management LLC Increases Holdings in Blue Owl Capital Co. (NYSE:OBDC)

Apollon Wealth Management LLC grew its holdings in shares of Blue Owl Capital Co. (NYSE:OBDC) by 18.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 108,256 shares of the company’s stock after acquiring an additional 16,517 shares during the quarter. Apollon Wealth Management LLC’s holdings in Blue Owl Capital were worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Heritage Wealth Advisors purchased a new stake in Blue Owl Capital in the 4th quarter worth about $32,000. CWM LLC increased its holdings in Blue Owl Capital by 98.6% in the 2nd quarter. CWM LLC now owns 2,079 shares of the company’s stock worth $32,000 after acquiring an additional 1,032 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Blue Owl Capital in the 4th quarter worth about $38,000. Headlands Technologies LLC purchased a new stake in Blue Owl Capital in the 1st quarter worth about $40,000. Finally, Spire Wealth Management purchased a new stake in Blue Owl Capital in the 4th quarter worth about $45,000. 42.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OBDC. Raymond James lowered Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Truist Financial cut their target price on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Wells Fargo & Company cut their target price on Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. Hovde Group lifted their price target on Blue Owl Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of Blue Owl Capital in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.00.

Blue Owl Capital Price Performance

NYSE:OBDC traded up $0.03 during mid-day trading on Monday, reaching $14.54. The stock had a trading volume of 2,276,725 shares, compared to its average volume of 2,050,868. The firm has a 50 day moving average price of $15.37 and a two-hundred day moving average price of $15.52. The stock has a market capitalization of $5.66 billion, a P/E ratio of 7.33 and a beta of 0.87. Blue Owl Capital Co. has a one year low of $12.99 and a one year high of $16.91. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.84 and a current ratio of 0.84.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.06 dividend. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.65%. Blue Owl Capital’s payout ratio is presently 74.75%.

Blue Owl Capital Company 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.