Sound Income Strategies LLC Increases Stake in Blue Owl Capital Corporation $OBDC

Key Points

• Sound Income Strategies LLC increased its stake in Blue Owl Capital Corporation by 4.5%, now holding over 3.29 million shares, making it one of its largest investments.
• Blue Owl Capital has received a "strong-buy" rating from analysts, with a consensus price target of $15.42.
• The company announced a quarterly dividend increase to $0.02, representing an annualized yield of 0.6%, with a payout ratio of 98.01%.

Sound Income Strategies LLC lifted its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,294,183 shares of the company's stock after acquiring an additional 140,885 shares during the period. Blue Owl Capital makes up about 2.7% of Sound Income Strategies LLC's investment portfolio, making the stock its 5th largest holding. Sound Income Strategies LLC owned about 0.64% of Blue Owl Capital worth $47,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its holdings in Blue Owl Capital by 19.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,627 shares of the company's stock worth $705,000 after purchasing an additional 7,522 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Blue Owl Capital during the first quarter worth about $63,000. Rothschild Investment LLC grew its holdings in shares of Blue Owl Capital by 2,383.1% during the first quarter. Rothschild Investment LLC now owns 99,299 shares of the company's stock worth $1,456,000 after buying an additional 95,300 shares in the last quarter. Roxbury Financial LLC bought a new position in shares of Blue Owl Capital during the first quarter worth about $50,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in Blue Owl Capital by 7.9% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 241,087 shares of the company's stock valued at $3,534,000 after buying an additional 17,721 shares during the last quarter. 42.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH raised Blue Owl Capital to a "strong-buy" rating in a research report on Friday, August 8th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Blue Owl Capital has a consensus rating of "Buy" and an average price target of $15.42.

Blue Owl Capital Stock Down 1.0%

OBDC stock opened at $13.24 on Monday. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 8.77 and a beta of 0.76. Blue Owl Capital Corporation has a twelve month low of $12.11 and a twelve month high of $15.73. The business has a 50 day moving average price of $14.17 and a two-hundred day moving average price of $14.29. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.20.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. The business had revenue of $485.84 million during the quarter, compared to analysts' expectations of $480.42 million. Analysts anticipate that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.02 dividend. This is an increase from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date was Friday, August 29th. This represents a $0.08 annualized dividend and a yield of 0.6%. Blue Owl Capital's dividend payout ratio (DPR) is 98.01%.

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.

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