Kovack Advisors Inc. Sells 5,332 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Kovack Advisors Inc. decreased its position in Blue Owl Capital Co. (NYSE:OBDC) by 14.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,401 shares of the company’s stock after selling 5,332 shares during the quarter. Kovack Advisors Inc.’s holdings in Blue Owl Capital were worth $458,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. National Bank of Canada FI purchased a new position in Blue Owl Capital during the 2nd quarter valued at about $26,000. CWM LLC increased its stake in shares of Blue Owl Capital by 98.6% during the second quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after purchasing an additional 1,032 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Blue Owl Capital during the first quarter valued at approximately $40,000. Rothschild Investment LLC bought a new stake in shares of Blue Owl Capital in the 2nd quarter worth approximately $61,000. Finally, Zions Bancorporation N.A. purchased a new stake in shares of Blue Owl Capital in the 2nd quarter worth approximately $61,000. Institutional investors own 42.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on OBDC shares. Raymond James lowered Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Wells Fargo & Company upped 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. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of Blue Owl Capital in a report on Monday, August 12th. Truist Financial reduced their target price on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods reduced their price objective on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.07.

Insiders Place Their Bets

In other news, Director Edward H. Dalelio bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost 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 represents a 38.37 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.12% of the stock is currently owned by corporate insiders.

Blue Owl Capital Stock Up 0.1 %

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

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.06. This represents a $1.48 dividend on an annualized basis and a yield of 9.99%. Blue Owl Capital’s payout ratio is currently 91.93%.

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.