Blue Owl Capital (NYSE:OBDC) Earns Outperform Rating from Royal Bank of Canada

Blue Owl Capital (NYSE:OBDC)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They presently have a $17.00 price objective on the stock. Royal Bank of Canada’s target price indicates a potential upside of 13.48% from the company’s current price.

OBDC has been the topic of several other research reports. Truist Financial cut their price target on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods cut their target price on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a research report on Tuesday, August 20th. Compass Point raised Blue Owl Capital to a “strong-buy” rating in a research note on Monday, August 19th. Wells Fargo & Company upped their price objective on Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Finally, Raymond James lowered Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Blue Owl Capital has an average rating of “Moderate Buy” and an average target price of $16.07.

Blue Owl Capital Stock Performance

Blue Owl Capital stock traded up $0.06 during trading on Tuesday, hitting $14.98. The stock had a trading volume of 267,663 shares, compared to its average volume of 1,933,511. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 9.30 and a beta of 0.86. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.30. The stock’s 50 day moving average is $14.88 and its two-hundred day moving average is $15.35. Blue Owl Capital has a 1 year low of $13.98 and a 1 year high of $16.91.

Insider Activity

In other news, Director Edward H. Dalelio acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was acquired at an average price of $15.02 per share, for a total transaction of $37,550.00. Following the completion of the transaction, the director now owns 9,016 shares in the company, valued at approximately $135,420.32. The trade was a 38.37 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI acquired a new stake in Blue Owl Capital in the 2nd quarter worth about $26,000. CWM LLC raised its stake in Blue Owl Capital by 98.6% in the 2nd quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after purchasing an additional 1,032 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Blue Owl Capital during the 2nd quarter worth $61,000. Zions Bancorporation N.A. acquired a new stake in shares of Blue Owl Capital in the second quarter valued at about $61,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Blue Owl Capital by 604.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,172 shares of the company’s stock worth $65,000 after purchasing an additional 3,580 shares during the last quarter. Hedge funds and other institutional investors own 42.83% of the company’s stock.

About Blue Owl Capital

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.