Sound Income Strategies LLC Purchases 387,347 Shares of Blue Owl Capital Corporation $OBDC

Sound Income Strategies LLC grew its position in Blue Owl Capital Corporation (NYSE:OBDC) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,779,901 shares of the company’s stock after purchasing an additional 387,347 shares during the period. Blue Owl Capital comprises about 2.3% of Sound Income Strategies LLC’s portfolio, making the stock its 5th largest position. Sound Income Strategies LLC owned approximately 0.74% of Blue Owl Capital worth $47,665,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc raised its holdings in Blue Owl Capital by 79.6% in the third quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock worth $27,000 after purchasing an additional 929 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Blue Owl Capital by 166.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company’s stock worth $27,000 after purchasing an additional 1,320 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in Blue Owl Capital in the third quarter worth $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Blue Owl Capital in the third quarter worth $30,000. Finally, Assetmark Inc. acquired a new stake in Blue Owl Capital in the third quarter worth $38,000. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Trading Up 1.4%

Shares of NYSE:OBDC opened at $11.02 on Tuesday. Blue Owl Capital Corporation has a 12 month low of $10.52 and a 12 month high of $15.19. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.26. The company’s fifty day simple moving average is $11.41 and its 200 day simple moving average is $12.27. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 8.88 and a beta of 0.65.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Blue Owl Capital had a net margin of 33.89% and a return on equity of 10.07%. The business had revenue of $439.50 million for the quarter, compared to analyst estimates of $454.38 million. As a group, research analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital announced that its Board of Directors has approved a share repurchase program on Wednesday, February 18th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Blue Owl Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 13.4%. The ex-dividend date is Tuesday, March 31st. Blue Owl Capital’s dividend payout ratio (DPR) is presently 119.35%.

Analyst Ratings Changes

OBDC has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating on the stock in a report on Monday, February 23rd. Truist Financial cut their target price on shares of Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Royal Bank Of Canada cut their target price on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Wall Street Zen upgraded shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.06.

Blue Owl Capital Profile

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.