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

Blue Owl Capital Corporation (NYSE:OBDC) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 8,600,000 shares, a decrease of 31.4% from the September 30th total of 12,540,000 shares. Based on an average daily volume of 3,810,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.7% of the company’s stock are short sold. Approximately 1.7% of the company’s stock are short sold. Based on an average daily volume of 3,810,000 shares, the days-to-cover ratio is currently 2.3 days.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Raymond James Financial set a $14.00 target price on shares of Blue Owl Capital and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Zacks Research cut shares of Blue Owl Capital from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Finally, LADENBURG THALM/SH SH upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.21.

Hedge Funds Weigh In On Blue Owl Capital

Several large investors have recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC bought a new position in Blue Owl Capital during the second quarter worth about $734,619,000. State of New Jersey Common Pension Fund A bought a new position in Blue Owl Capital during the second quarter worth about $218,884,000. Bank of America Corp DE increased its position in Blue Owl Capital by 4.3% during the second quarter. Bank of America Corp DE now owns 12,463,438 shares of the company’s stock worth $178,726,000 after acquiring an additional 517,294 shares during the period. Cresset Asset Management LLC increased its position in Blue Owl Capital by 85.8% during the first quarter. Cresset Asset Management LLC now owns 8,248,547 shares of the company’s stock worth $123,979,000 after acquiring an additional 3,809,000 shares during the period. Finally, Royal Bank of Canada increased its position in Blue Owl Capital by 3.0% during the first quarter. Royal Bank of Canada now owns 7,608,871 shares of the company’s stock worth $111,546,000 after acquiring an additional 221,571 shares during the period. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Stock Performance

OBDC stock traded up $0.07 during trading hours on Monday, reaching $13.09. The stock had a trading volume of 3,503,003 shares, compared to its average volume of 5,530,935. The stock has a market capitalization of $6.69 billion, a PE ratio of 8.67 and a beta of 0.74. The stock has a 50-day simple moving average of $13.36 and a 200 day simple moving average of $14.03. Blue Owl Capital has a fifty-two week low of $12.04 and a fifty-two week high of $15.73. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.80 and a quick ratio of 0.80.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $485.84 million for the quarter, compared to analyst estimates of $480.42 million. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. Analysts predict that Blue Owl Capital will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, August 29th. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.01. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. Blue Owl Capital’s payout ratio is currently 98.01%.

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.