Blue Owl Capital (NYSE:OBDC) Raised to Hold at Zacks Research

Blue Owl Capital (NYSE:OBDC) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Citizens Jmp reduced 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 cut their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, February 20th. 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 report on Friday, November 7th. Truist Financial lowered their price objective on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Keefe, Bruyette & Woods reduced their target price on Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.06.

Blue Owl Capital Price Performance

Shares of NYSE OBDC opened at $11.68 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.17 and a current ratio of 1.17. Blue Owl Capital has a fifty-two week low of $10.70 and a fifty-two week high of $15.58. The stock has a market cap of $5.84 billion, a PE ratio of 9.42 and a beta of 0.67. The stock has a fifty day moving average of $12.19 and a 200-day moving average of $12.87.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $439.50 million for the quarter, compared to analysts’ expectations of $454.38 million. Blue Owl Capital had a return on equity of 10.07% and a net margin of 33.89%. Equities research analysts anticipate that Blue Owl Capital will post 1.71 earnings per share for the current year.

Blue Owl Capital declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to purchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Blue Owl Capital

Several hedge funds have recently added to or reduced their stakes in OBDC. IFP Advisors Inc boosted its holdings in shares of Blue Owl Capital by 79.6% in the 3rd quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock worth $27,000 after purchasing an additional 929 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Blue Owl Capital by 166.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company’s stock worth $27,000 after buying an additional 1,320 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Blue Owl Capital in the third quarter worth approximately $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Blue Owl Capital during the third quarter valued at approximately $30,000. Finally, First Horizon Advisors Inc. bought a new position in Blue Owl Capital during the second quarter valued at approximately $40,000. Institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Company Profile

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.