Sound Income Strategies LLC Purchases 143,520 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Sound Income Strategies LLC raised its holdings in Blue Owl Capital Co. (NYSE:OBDC) by 5.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,603,592 shares of the company’s stock after acquiring an additional 143,520 shares during the quarter. Blue Owl Capital accounts for about 3.0% of Sound Income Strategies LLC’s portfolio, making the stock its 6th biggest holding. Sound Income Strategies LLC owned 0.67% of Blue Owl Capital worth $40,043,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in OBDC. State of New Jersey Common Pension Fund E purchased a new stake in Blue Owl Capital in the 4th quarter worth about $335,810,000. Regents of The University of California acquired a new stake in Blue Owl Capital during the fourth quarter valued at $258,421,000. Van ECK Associates Corp purchased a new position in Blue Owl Capital in the fourth quarter valued at about $100,726,000. Transcend Capital Advisors LLC acquired a new stake in shares of Blue Owl Capital during the 4th quarter valued at about $56,354,000. Finally, LSV Asset Management bought a new stake in shares of Blue Owl Capital in the 4th quarter valued at approximately $51,197,000. Institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

Shares of OBDC stock traded down $0.01 during trading hours on Wednesday, hitting $15.70. 1,856,438 shares of the company’s stock were exchanged, compared to its average volume of 2,000,968. Blue Owl Capital Co. has a 52 week low of $12.99 and a 52 week high of $16.91. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 7.94 and a beta of 0.89. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.67 and a quick ratio of 1.67. The stock’s 50-day moving average is $16.16 and its 200-day moving average is $15.46.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Blue Owl Capital had a return on equity of 12.64% and a net margin of 48.25%. The company had revenue of $399.58 million for the quarter, compared to the consensus estimate of $399.16 million. As a group, research analysts forecast that Blue Owl Capital Co. will post 1.88 EPS for the current year.

Blue Owl Capital Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were given a dividend of $0.05 per share. This represents a dividend yield of 10%. The ex-dividend date was Friday, May 31st. Blue Owl Capital’s dividend payout ratio is currently 70.71%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OBDC. Truist Financial boosted their price objective on shares of Blue Owl Capital from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $16.00 price target on shares of Blue Owl Capital in a research report on Thursday, May 23rd. Royal Bank of Canada boosted their price objective on Blue Owl Capital from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. JMP Securities reiterated a “market outperform” rating and set a $16.00 price target on shares of Blue Owl Capital in a report on Tuesday, March 26th. Finally, Hovde Group raised their price target on shares of Blue Owl Capital from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Blue Owl Capital has an average rating of “Moderate Buy” and a consensus target price of $16.19.

Blue Owl Capital 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.