Sound Income Strategies LLC Boosts Stock Holdings in Blue Owl Capital Corporation (NYSE:OBDC)

Sound Income Strategies LLC lifted its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 4.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,153,298 shares of the company's stock after purchasing an additional 129,038 shares during the period. Blue Owl Capital accounts for about 2.7% of Sound Income Strategies LLC's portfolio, making the stock its 5th largest position. Sound Income Strategies LLC owned 0.62% of Blue Owl Capital worth $46,227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Family Wealth Partners LLC acquired a new position in Blue Owl Capital during the 1st quarter worth about $285,000. Tcfg Wealth Management LLC raised its stake in shares of Blue Owl Capital by 28.2% in the first quarter. Tcfg Wealth Management LLC now owns 21,155 shares of the company's stock worth $310,000 after acquiring an additional 4,657 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Blue Owl Capital by 13.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 52,977 shares of the company's stock worth $777,000 after purchasing an additional 6,350 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Blue Owl Capital by 13.1% during the first quarter. Salem Investment Counselors Inc. now owns 373,320 shares of the company's stock valued at $5,478,000 after purchasing an additional 43,345 shares during the last quarter. Finally, Trinity Financial Advisors LLC increased its holdings in shares of Blue Owl Capital by 14.9% in the first quarter. Trinity Financial Advisors LLC now owns 1,086,128 shares of the company's stock valued at $16,323,000 after purchasing an additional 140,839 shares in the last quarter. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Trading Up 0.7%

Shares of OBDC stock traded up $0.10 on Wednesday, reaching $14.57. The company had a trading volume of 1,991,878 shares, compared to its average volume of 2,620,794. The stock has a market cap of $7.44 billion, a PE ratio of 9.40 and a beta of 0.73. The company has a 50-day moving average of $14.22 and a 200-day moving average of $14.71. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.31. Blue Owl Capital Corporation has a 12 month low of $12.11 and a 12 month high of $15.98.

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 firm had revenue of $464.65 million during the quarter, compared to the consensus estimate of $457.88 million. Blue Owl Capital had a net margin of 39.42% and a return on equity of 11.72%. On average, equities analysts forecast that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

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

Insider Buying and Selling

In other Blue Owl Capital news, Director Victor Woolridge bought 6,915 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average cost of $14.45 per share, with a total value of $99,921.75. Following the purchase, the director now owns 28,191 shares in the company, valued at $407,359.95. This trade represents a 32.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.