Sound Income Strategies LLC Purchases 1,345,081 Shares of Blue Owl Capital Corporation $OBDC

Sound Income Strategies LLC grew its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 32.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,549,823 shares of the company’s stock after purchasing an additional 1,345,081 shares during the quarter. Blue Owl Capital accounts for 1.3% of Sound Income Strategies LLC’s investment portfolio, making the stock its 6th biggest position. Sound Income Strategies LLC’s holdings in Blue Owl Capital were worth $56,442,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Independent Financial Group LLC acquired a new stake in Blue Owl Capital in the 1st quarter valued at approximately $1,925,000. Caz Investments LP boosted its position in Blue Owl Capital by 45.3% during the 2nd quarter. Caz Investments LP now owns 1,633,305 shares of the company’s stock worth $17,754,000 after acquiring an additional 509,000 shares during the period. Next Capital Management LLC boosted its position in Blue Owl Capital by 610.9% during the 1st quarter. Next Capital Management LLC now owns 1,418,819 shares of the company’s stock worth $15,789,000 after acquiring an additional 1,219,235 shares during the period. NewEdge Wealth LLC grew its stake in shares of Blue Owl Capital by 81.6% in the first quarter. NewEdge Wealth LLC now owns 758,426 shares of the company’s stock worth $8,388,000 after purchasing an additional 340,861 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of Blue Owl Capital by 71.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 3,085,234 shares of the company’s stock worth $34,123,000 after purchasing an additional 1,284,222 shares in the last quarter. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Price Performance

Shares of OBDC stock traded down $0.07 during mid-day trading on Friday, hitting $10.11. 2,711,426 shares of the stock traded hands, compared to its average volume of 4,637,287. Blue Owl Capital Corporation has a twelve month low of $9.81 and a twelve month high of $13.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. The company’s 50-day simple moving average is $11.11 and its 200-day simple moving average is $11.10. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 18.04 and a beta of 0.64.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. Blue Owl Capital had a return on equity of 9.49% and a net margin of 16.99%.The business had revenue of $396.00 million during the quarter, compared to analyst estimates of $394.23 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. As a group, equities research analysts expect that Blue Owl Capital Corporation will post 1.29 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.31 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.24 annualized dividend and a yield of 12.3%. Blue Owl Capital’s payout ratio is 221.43%.

Wall Street Analyst Weigh In

OBDC has been the topic of a number of research analyst reports. Capital One Financial set a $13.00 price target on Blue Owl Capital in a report on Friday, July 24th. Lucid Cap Mkts raised shares of Blue Owl Capital to a “strong-buy” rating in a report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.83.

Blue Owl Capital Profile

Blue Owl Capital Corporation (NYSE:OBDC) is a business development company that provides financing to middle-market companies. The company invests primarily in privately held businesses through senior secured loans, including first-lien and unitranche loans, as well as second-lien debt, subordinated debt and equity investments.

OBDC’s investment objective is to generate current income and, to a lesser extent, long-term capital appreciation. Its portfolio companies operate across a range of industries, and the company generally focuses on established businesses that may have limited access to traditional financing sources.

The company was formed as Owl Rock Capital Corporation and began operations in 2016.