Icon Wealth Advisors LLC Has $8.45 Million Stake in Blue Owl Capital Co. (NYSE:OBDC)

Icon Wealth Advisors LLC raised its position in shares of Blue Owl Capital Co. (NYSE:OBDC) by 3,524.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 579,799 shares of the company’s stock after buying an additional 563,800 shares during the period. Icon Wealth Advisors LLC’s holdings in Blue Owl Capital were worth $8,448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of OBDC. National Bank of Canada FI bought a new position in Blue Owl Capital in the second quarter valued at approximately $26,000. CWM LLC boosted its stake in Blue Owl Capital by 98.6% in the second quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after acquiring an additional 1,032 shares during the last quarter. Rothschild Investment LLC bought a new position in Blue Owl Capital in the second quarter valued at approximately $61,000. Zions Bancorporation N.A. bought a new position in Blue Owl Capital in the second quarter valued at approximately $61,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Blue Owl Capital by 604.7% in the second quarter. EverSource Wealth Advisors LLC now owns 4,172 shares of the company’s stock worth $65,000 after purchasing an additional 3,580 shares during the period. Institutional investors and hedge funds own 42.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods dropped their price objective on shares of 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 lowered shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, Truist Financial lowered their price target on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.07.

Insiders Place Their Bets

In other news, Director Edward H. Dalelio acquired 2,500 shares of Blue Owl Capital stock in a transaction dated Tuesday, August 27th. The shares were bought at an average cost of $15.02 per share, with a total value of $37,550.00. Following the purchase, the director now owns 9,016 shares in the company, valued at $135,420.32. This trade represents a 38.37 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.12% of the company’s stock.

Blue Owl Capital Price Performance

OBDC stock opened at $15.06 on Friday. The company has a 50 day simple moving average of $14.90 and a 200 day simple moving average of $15.34. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 9.35 and a beta of 0.86. Blue Owl Capital Co. has a 1 year low of $13.98 and a 1 year high of $16.91. 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 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 issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 9.83%. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, December 31st. Blue Owl Capital’s payout ratio is presently 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.