Sound Income Strategies LLC Has $47.67 Million Stock Holdings in Blue Owl Capital Corporation $OBDC

Sound Income Strategies LLC boosted its holdings in Blue Owl Capital Corporation (NYSE:OBDC) by 11.4% in the fourth quarter, Holdings Channel reports. The firm owned 3,779,901 shares of the company’s stock after purchasing an additional 387,347 shares during the quarter. Blue Owl Capital comprises about 2.3% of Sound Income Strategies LLC’s holdings, making the stock its 5th biggest position. Sound Income Strategies LLC’s holdings in Blue Owl Capital were worth $47,665,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc grew its position in Blue Owl Capital by 79.6% in the third quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock valued at $27,000 after purchasing an additional 929 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position 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 valued at $27,000 after purchasing an additional 1,320 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in Blue Owl Capital in the third quarter valued at $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Blue Owl Capital in the third quarter valued at $30,000. Finally, Assetmark Inc. bought a new position in Blue Owl Capital in the third quarter valued at $38,000. Institutional investors own 42.83% of the company’s stock.

Analyst Ratings Changes

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

Blue Owl Capital Stock Performance

Shares of OBDC opened at $11.02 on Tuesday. The firm has a 50-day moving average of $11.41 and a 200-day moving average of $12.27. Blue Owl Capital Corporation has a one year low of $10.52 and a one year high of $15.19. The company has a market cap of $5.50 billion, a PE ratio of 8.88 and a beta of 0.65. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.17 and a quick ratio of 1.17.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.36 EPS for the quarter, beating 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 company had revenue of $439.50 million during the quarter, compared to the consensus estimate of $454.38 million. As a group, equities analysts forecast that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 18th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Blue Owl Capital Announces Dividend

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

About Blue Owl Capital

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.