Blue Owl Capital Co. (NYSE:OBDC) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC increased its stake in shares of Blue Owl Capital Co. (NYSE:OBDC) by 5.8% during the 1st quarter, Holdings Channel reports. The fund owned 2,603,592 shares of the company’s stock after purchasing an additional 143,520 shares during the quarter. Blue Owl Capital makes up about 3.0% of Sound Income Strategies LLC’s investment portfolio, making the stock its 6th largest position. Sound Income Strategies LLC’s holdings in Blue Owl Capital were worth $40,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. State of New Jersey Common Pension Fund E purchased a new position in shares of Blue Owl Capital during the 4th quarter valued at approximately $335,810,000. Regents of The University of California purchased a new stake in shares of Blue Owl Capital during the 4th quarter worth about $258,421,000. Van ECK Associates Corp acquired a new stake in shares of Blue Owl Capital during the 4th quarter valued at about $100,726,000. Transcend Capital Advisors LLC purchased a new position in shares of Blue Owl Capital in the 4th quarter valued at about $56,354,000. Finally, LSV Asset Management acquired a new stake in shares of Blue Owl Capital in the fourth quarter valued at about $51,197,000. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OBDC shares. JMP Securities restated a “market outperform” rating and issued a $16.00 price objective on shares of Blue Owl Capital in a report on Tuesday, March 26th. Hovde Group increased their target price on Blue Owl Capital from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Royal Bank of Canada lifted their target price on Blue Owl Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Truist Financial lifted their price objective on shares of Blue Owl Capital from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $16.00 target price on shares of Blue Owl Capital in a report on Thursday, May 23rd. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.19.

Blue Owl Capital Stock Performance

Blue Owl Capital stock traded down $0.01 during mid-day trading on Wednesday, reaching $15.70. 1,856,438 shares of the company were exchanged, compared to its average volume of 2,000,968. The firm’s 50-day simple moving average is $16.16 and its two-hundred day simple moving average is $15.46. Blue Owl Capital Co. has a twelve month low of $12.99 and a twelve month high of $16.91. The firm has a market cap of $6.12 billion, a PE ratio of 7.94 and a beta of 0.89. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.67 and a current ratio of 1.67.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $399.58 million during the quarter, compared to analysts’ expectations of $399.16 million. Blue Owl Capital had a net margin of 48.25% and a return on equity of 12.64%. Equities analysts predict that Blue Owl Capital Co. will post 1.88 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

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

Blue Owl Capital Company 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.