Sound Income Strategies LLC Has $41.49 Million Position in Blue Owl Capital Corporation $OBDC

Sound Income Strategies LLC increased its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,392,554 shares of the company’s stock after purchasing an additional 98,371 shares during the quarter. Blue Owl Capital makes up 2.3% of Sound Income Strategies LLC’s portfolio, making the stock its 6th biggest holding. Sound Income Strategies LLC owned approximately 0.66% of Blue Owl Capital worth $41,491,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. SVB Wealth LLC bought a new position in Blue Owl Capital in the 1st quarter worth approximately $28,000. First Horizon Advisors Inc. bought a new position in shares of Blue Owl Capital during the second quarter worth $40,000. Private Trust Co. NA boosted its position in shares of Blue Owl Capital by 86.6% during the second quarter. Private Trust Co. NA now owns 3,123 shares of the company’s stock worth $45,000 after acquiring an additional 1,449 shares during the last quarter. Allworth Financial LP grew its stake in Blue Owl Capital by 24,533.3% during the second quarter. Allworth Financial LP now owns 3,695 shares of the company’s stock valued at $53,000 after acquiring an additional 3,680 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in Blue Owl Capital in the 1st quarter worth $73,000. 42.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Blue Owl Capital

In other news, CEO Craig Packer acquired 83,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were bought at an average price of $11.75 per share, with a total value of $977,600.00. Following the completion of the purchase, the chief executive officer directly owned 41,600 shares in the company, valued at $488,800. This trade represents a -200.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Neena Reddy bought 7,890 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were purchased at an average cost of $13.06 per share, with a total value of $103,043.40. Following the completion of the transaction, the vice president owned 7,890 shares in the company, valued at $103,043.40. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

OBDC has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their price target on Blue Owl Capital from $14.50 to $13.50 and set a “market perform” rating for the company in a research note on Monday, November 10th. Wells Fargo & Company decreased their price target on shares of Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Citizens Jmp dropped their price objective on shares of Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating for the company in a research note on Friday, November 7th. Royal Bank Of Canada reduced their target price on shares of Blue Owl Capital from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Finally, Zacks Research lowered Blue Owl Capital from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.56.

Blue Owl Capital Stock Down 0.6%

Shares of NYSE OBDC opened at $12.63 on Friday. Blue Owl Capital Corporation has a 1 year low of $11.65 and a 1 year high of $15.73. The firm has a 50-day simple moving average of $12.78 and a two-hundred day simple moving average of $13.67. The company has a market cap of $6.45 billion, a P/E ratio of 8.95 and a beta of 0.65. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.72 and a quick ratio of 0.72.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Blue Owl Capital had a return on equity of 10.58% and a net margin of 36.89%.The business had revenue of $453.07 million during the quarter, compared to analysts’ expectations of $466.81 million. Research analysts anticipate that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 11.7%. The ex-dividend date of this dividend is Wednesday, December 31st. Blue Owl Capital’s dividend payout ratio (DPR) is currently 104.96%.

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.