Short Interest in Blue Owl Capital Corporation (NYSE:OBDC) Rises By 40.5%

Blue Owl Capital Corporation (NYSE:OBDC) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 18,489,414 shares, an increase of 40.5% from the February 26th total of 13,158,793 shares. Approximately 3.7% of the shares of the company are sold short. Based on an average trading volume of 7,544,335 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Truist Financial decreased their target price on shares of Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Keefe, Bruyette & Woods lowered their target price on shares of Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating on the stock in a report on Monday, February 23rd. Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada cut their price target on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.06.

Blue Owl Capital Price Performance

Shares of NYSE:OBDC traded up $0.07 during midday trading on Monday, hitting $10.90. The stock had a trading volume of 7,651,842 shares, compared to its average volume of 6,317,509. The company’s 50-day moving average price is $11.60 and its 200-day moving average price is $12.40. Blue Owl Capital has a fifty-two week low of $10.70 and a fifty-two week high of $15.19. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $5.44 billion, a P/E ratio of 8.79 and a beta of 0.67.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $439.50 million for the quarter, compared to analyst estimates of $454.38 million. As a group, equities research analysts predict that Blue Owl Capital will post 1.71 EPS for the current fiscal year.

Blue Owl Capital declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Blue Owl Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 13.6%. Blue Owl Capital’s dividend payout ratio (DPR) is presently 119.35%.

Institutional Trading of Blue Owl Capital

Institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc grew its position in Blue Owl Capital by 79.6% in the third quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock valued at $27,000 after acquiring an additional 929 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Blue Owl Capital by 166.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company’s stock valued at $27,000 after purchasing an additional 1,320 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Blue Owl Capital during the third quarter valued at about $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Blue Owl Capital during the third quarter valued at about $30,000. Finally, AG Campbell Advisory LLC bought a new stake in shares of Blue Owl Capital during the fourth quarter worth about $36,000. 42.83% of the stock is currently owned by institutional investors.

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.