Sound Income Strategies LLC Increases Stake in Blue Owl Capital Co. (NYSE:OBDC)

Sound Income Strategies LLC raised its holdings in shares of Blue Owl Capital Co. (NYSE:OBDC - Free Report) by 4.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,153,298 shares of the company's stock after purchasing an additional 129,038 shares during the quarter. Blue Owl Capital makes up 2.7% of Sound Income Strategies LLC's holdings, making the stock its 5th biggest position. Sound Income Strategies LLC owned about 0.62% of Blue Owl Capital worth $46,227,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in OBDC. Royal Bank of Canada lifted its holdings in shares of Blue Owl Capital by 9.2% during the fourth quarter. Royal Bank of Canada now owns 7,387,300 shares of the company's stock worth $111,696,000 after buying an additional 620,521 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Blue Owl Capital by 5.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,786,738 shares of the company's stock worth $72,361,000 after buying an additional 236,467 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Blue Owl Capital by 8,188.9% during the fourth quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company's stock worth $68,762,000 after buying an additional 4,385,987 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Blue Owl Capital by 7.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,436,706 shares of the company's stock worth $36,843,000 after buying an additional 174,759 shares in the last quarter. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of Blue Owl Capital during the fourth quarter worth $34,103,000. Institutional investors and hedge funds own 42.83% of the company's stock.

Insider Transactions at Blue Owl Capital

In other news, Director Victor Woolridge purchased 6,915 shares of Blue Owl Capital stock in a transaction dated Tuesday, May 27th. The shares were bought at an average cost of $14.45 per share, for a total transaction of $99,921.75. Following the completion of the acquisition, the director now owns 28,191 shares in the company, valued at approximately $407,359.95. This trade represents a 32.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.11% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on 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 for the company in a research note on Tuesday, April 8th. B. Riley assumed coverage on Blue Owl Capital in a research note on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price target for the company. Wells Fargo & Company dropped their price target on Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Blue Owl Capital in a research note on Thursday, May 15th. Finally, Jefferies Financial Group assumed coverage on Blue Owl Capital in a research note on Friday, April 11th. They issued a "buy" rating and a $16.00 price target for the company. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $15.64.

Blue Owl Capital Price Performance

NYSE OBDC traded down $0.17 during trading on Friday, hitting $14.59. 1,495,805 shares of the company's stock were exchanged, compared to its average volume of 2,626,392. 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 company has a market cap of $7.45 billion, a PE ratio of 9.53 and a beta of 0.73. Blue Owl Capital Co. has a fifty-two week low of $12.11 and a fifty-two week high of $15.98. The stock's 50 day moving average price is $14.16 and its two-hundred day moving average price is $14.72.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.39 EPS 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 analyst estimates of $457.88 million. Blue Owl Capital had a return on equity of 12.38% and a net margin of 37.26%. Research analysts expect that Blue Owl Capital Co. will post 1.71 EPS for the current year.

Blue Owl Capital Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.01 per share. This represents a dividend yield of 11.51%. The ex-dividend date was Friday, May 30th. Blue Owl Capital's dividend payout ratio (DPR) is currently 95.48%.

Blue Owl Capital 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.