Blue Owl Capital Corporation $OBDC Stock Sold by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management reduced its Blue Owl Capital stake by 6.2% in the third quarter, selling 109,497 shares and retaining 1.64 million shares worth approximately $17.25 million. Institutional investors collectively own 42.83% of OBDC.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $12.57. Recent ratings included a Strong Buy upgrade and target prices of $11 and $13.
• OBDC reported quarterly earnings of $0.34 per share, exceeding estimates, and declared a quarterly dividend of $0.31, equivalent to a 12.3% annualized yield. Shares opened at $10.05, near the company’s 12-month low of $9.81.

Apollon Wealth Management LLC lessened its position in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 6.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,644,503 shares of the company's stock after selling 109,497 shares during the quarter. Apollon Wealth Management LLC owned about 0.33% of Blue Owl Capital worth $17,251,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC increased its holdings in shares of Blue Owl Capital by 7.3% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 127,771 shares of the company's stock valued at $1,340,000 after acquiring an additional 8,664 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of Blue Owl Capital during the third quarter worth about $197,000. Wedbush Securities Inc. boosted its stake in shares of Blue Owl Capital by 5.0% during the third quarter. Wedbush Securities Inc. now owns 105,473 shares of the company's stock worth $1,106,000 after buying an additional 5,022 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of Blue Owl Capital during the third quarter worth about $138,000. Finally, Brookstone Capital Management grew its holdings in shares of Blue Owl Capital by 4.7% during the third quarter. Brookstone Capital Management now owns 130,837 shares of the company's stock worth $1,372,000 after buying an additional 5,823 shares during the last quarter. Hedge funds and other institutional investors own 42.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OBDC shares. Raymond James Financial set a $11.00 target price on Blue Owl Capital in a report on Thursday. Lucid Cap Mkts raised Blue Owl Capital to a "strong-buy" rating in a report on Friday, July 24th. Wall Street Zen upgraded shares of Blue Owl Capital from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Capital One Financial set a $13.00 target price on shares of Blue Owl Capital in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $12.57.

Blue Owl Capital Stock Up 0.0%

OBDC opened at $10.05 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50 day simple moving average of $10.82 and a 200-day simple moving average of $11.02. The stock has a market capitalization of $4.96 billion, a P/E ratio of 17.96 and a beta of 0.64. Blue Owl Capital Corporation has a 12 month low of $9.81 and a 12 month high of $13.57.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The firm had revenue of $396.00 million for the quarter, compared to the consensus estimate of $394.23 million. Blue Owl Capital had a return on equity of 9.49% and a net margin of 16.99%. During the same period in the previous year, the business earned $0.40 earnings per share. On average, equities analysts anticipate that Blue Owl Capital Corporation will post 1.30 earnings per share for the current fiscal year.

Blue Owl Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date was Wednesday, September 30th. Blue Owl Capital's dividend payout ratio (DPR) is currently 221.43%.

About Blue Owl Capital

Blue Owl Capital Corporation NYSE: OBDC is a business development company focused on providing financing to middle-market companies. The company is externally managed by Blue Owl Credit Advisors LLC, an affiliate of Blue Owl Capital Inc, and seeks to generate income and capital appreciation through investments in privately negotiated transactions.

OBDC primarily invests in senior secured loans, including first-lien and unitranche debt, as well as second-lien loans and, to a lesser extent, equity investments and other securities.

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