Sound Income Strategies LLC Purchases 129,038 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Sound Income Strategies LLC lifted its position in Blue Owl Capital Co. (NYSE:OBDC) by 4.3% during the first quarter, Holdings Channel reports. The institutional investor owned 3,153,298 shares of the company’s stock after buying an additional 129,038 shares during the quarter. Blue Owl Capital makes up approximately 2.7% of Sound Income Strategies LLC’s investment portfolio, making the stock its 5th largest position. Sound Income Strategies LLC’s holdings in Blue Owl Capital were worth $46,227,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Cresset Asset Management LLC raised its position in Blue Owl Capital by 8,188.9% in the fourth quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company’s stock worth $68,762,000 after acquiring an additional 4,385,987 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in shares of Blue Owl Capital in the 4th quarter worth approximately $34,103,000. Raymond James Financial Inc. bought a new stake in shares of Blue Owl Capital in the 4th quarter worth approximately $28,434,000. Boston Partners lifted its stake in Blue Owl Capital by 76.6% during the fourth quarter. Boston Partners now owns 1,648,101 shares of the company’s stock valued at $24,823,000 after purchasing an additional 714,940 shares during the last quarter. Finally, Enstar Group LTD bought a new stake in Blue Owl Capital during the fourth quarter worth approximately $10,139,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Insider Buying and Selling at Blue Owl Capital

In related news, Director Victor Woolridge bought 6,915 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was bought at an average price of $14.45 per share, with a total value of $99,921.75. Following the purchase, the director now directly owns 28,191 shares of the company’s stock, valued at approximately $407,359.95. This represents a 32.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.

Blue Owl Capital Stock Performance

Shares of OBDC stock opened at $14.59 on Friday. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 9.53 and a beta of 0.73. Blue Owl Capital Co. has a 1-year low of $12.11 and a 1-year high of $15.98. The company has a current ratio of 1.19, a quick ratio of 1.28 and a debt-to-equity ratio of 1.25. The stock’s fifty day simple moving average is $14.16 and its 200-day simple moving average is $14.72.

Blue Owl Capital (NYSE:OBDC) last released its earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). The business had revenue of $464.65 million for the quarter, compared to analysts’ expectations of $457.88 million. Blue Owl Capital had a net margin of 37.26% and a return on equity of 12.38%. On average, sell-side analysts predict that Blue Owl Capital Co. will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a dividend of $0.01 per share. This represents a yield of 11.51%. The ex-dividend date of this dividend was Friday, May 30th. Blue Owl Capital’s payout ratio is presently 95.48%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OBDC shares. Wells Fargo & Company dropped their price target on Blue Owl Capital from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 target price on shares of Blue Owl Capital in a research report on Thursday, May 15th. Jefferies Financial Group initiated coverage on Blue Owl Capital in a report on Friday, April 11th. They set a “buy” rating and a $16.00 target price for the company. Keefe, Bruyette & Woods dropped their price target on Blue Owl Capital from $15.10 to $14.50 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. Finally, B. Riley assumed coverage on shares of Blue Owl Capital in a research note on Tuesday, May 13th. They set a “buy” rating and a $15.00 price objective for the company. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Blue Owl Capital currently has an average rating of “Buy” and a consensus price target of $15.64.

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.