Balboa Wealth Partners Buys New Shares in Blue Owl Capital Co. (NYSE:OBDC)

Balboa Wealth Partners purchased a new stake in shares of Blue Owl Capital Co. (NYSE:OBDC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,602 shares of the company’s stock, valued at approximately $169,000.

Several other large investors have also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. raised its stake in shares of Blue Owl Capital by 17.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 393,397 shares of the company’s stock worth $5,732,000 after purchasing an additional 58,794 shares in the last quarter. Barnett & Company Inc. raised its position in Blue Owl Capital by 38.2% during the third quarter. Barnett & Company Inc. now owns 102,900 shares of the company’s stock worth $1,499,000 after acquiring an additional 28,450 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in Blue Owl Capital by 35.9% during the third quarter. Prime Capital Investment Advisors LLC now owns 20,315 shares of the company’s stock worth $296,000 after acquiring an additional 5,372 shares in the last quarter. First National Trust Co lifted its stake in Blue Owl Capital by 83.9% in the third quarter. First National Trust Co now owns 141,524 shares of the company’s stock valued at $2,062,000 after acquiring an additional 64,558 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its position in shares of Blue Owl Capital by 1.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 110,016 shares of the company’s stock valued at $1,603,000 after acquiring an additional 1,760 shares during the period. 42.83% of the stock is owned by institutional investors and hedge funds.

Blue Owl Capital Stock Up 0.5 %

OBDC opened at $14.89 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 stock has a fifty day moving average of $14.88 and a 200-day moving average of $15.36. Blue Owl Capital Co. has a fifty-two week low of $13.98 and a fifty-two week high of $16.91. The company has a market capitalization of $5.81 billion, a P/E ratio of 9.25 and a beta of 0.86.

Blue Owl Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 9.94%. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.06. Blue Owl Capital’s payout ratio is currently 91.93%.

Insiders Place Their Bets

In related news, Director Edward H. Dalelio purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average price of $15.02 per share, for a total transaction of $37,550.00. Following the completion of the transaction, the director now owns 9,016 shares of the company’s stock, valued at approximately $135,420.32. This trade represents a 38.37 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 target price on shares of Blue Owl Capital in a research note on Monday, August 12th. Wells Fargo & Company raised their price objective on Blue Owl Capital from $14.00 to $14.50 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods decreased their target price on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a report on Tuesday, August 20th. Raymond James downgraded Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, Truist Financial decreased 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 report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Blue Owl Capital has an average rating of “Moderate Buy” and an average target price of $16.07.

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.