Blue Owl Capital Corporation (NYSE:OBDC) Sees Significant Drop in Short Interest

Blue Owl Capital Corporation (NYSE:OBDC) saw a large decline in short interest in February. As of February 27th, there was short interest totaling 13,158,793 shares, a decline of 21.2% from the February 12th total of 16,690,434 shares. Based on an average trading volume of 8,887,952 shares, the short-interest ratio is currently 1.5 days. Approximately 2.6% of the company’s stock are sold short. Approximately 2.6% of the company’s stock are sold short. Based on an average trading volume of 8,887,952 shares, the short-interest ratio is currently 1.5 days.

Blue Owl Capital Stock Down 0.4%

Shares of NYSE OBDC traded down $0.04 during mid-day trading on Friday, reaching $10.95. The company had a trading volume of 5,882,750 shares, compared to its average volume of 7,723,622. The firm has a 50 day simple moving average of $11.87 and a two-hundred day simple moving average of $12.63. Blue Owl Capital has a 52-week low of $10.70 and a 52-week high of $15.36. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.26. The stock has a market cap of $5.47 billion, a P/E ratio of 8.83 and a beta of 0.67.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Blue Owl Capital had a net margin of 33.89% and a return on equity of 10.07%. The firm had revenue of $439.50 million during the quarter, compared to analysts’ expectations of $454.38 million. Sell-side analysts predict that Blue Owl Capital will post 1.71 earnings per share for the current year.

Blue Owl Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 13.5%. Blue Owl Capital’s dividend payout ratio is 119.35%.

Blue Owl Capital declared that its board has initiated a share repurchase program on Wednesday, February 18th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy up to 5.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Blue Owl Capital

Several large investors have recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in shares of Blue Owl Capital by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company’s stock valued at $170,663,000 after acquiring an additional 757,203 shares during the period. Bank of America Corp DE raised its position in Blue Owl Capital by 6.5% in the 3rd quarter. Bank of America Corp DE now owns 13,275,411 shares of the company’s stock valued at $169,527,000 after purchasing an additional 811,973 shares during the last quarter. UBS Group AG boosted its stake in Blue Owl Capital by 40.6% during the 4th quarter. UBS Group AG now owns 8,528,672 shares of the company’s stock worth $106,011,000 after purchasing an additional 2,463,080 shares during the period. Ameriprise Financial Inc. grew its position in Blue Owl Capital by 13.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,454,128 shares of the company’s stock worth $69,005,000 after purchasing an additional 659,025 shares during the last quarter. Finally, Sound Income Strategies LLC grew its position in Blue Owl Capital by 11.4% during the 4th quarter. Sound Income Strategies LLC now owns 3,779,901 shares of the company’s stock worth $47,665,000 after purchasing an additional 387,347 shares during the last quarter. 42.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OBDC has been the topic of a number of analyst reports. Royal Bank Of Canada reduced their price objective on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Wall Street Zen lowered Blue Owl Capital from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Zacks Research upgraded Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Keefe, Bruyette & Woods decreased their price target on Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating for the company in a report on Monday, February 23rd. Finally, Truist Financial lowered their price objective on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.06.

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.