Blue Owl Capital Corporation (NYSE:OBDC) Sees Large Decline in Short Interest

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

Blue Owl Capital Price Performance

NYSE OBDC traded up $0.34 on Tuesday, hitting $11.45. The stock had a trading volume of 5,267,315 shares, compared to its average volume of 6,413,867. Blue Owl Capital has a 52-week low of $10.70 and a 52-week high of $15.36. The firm has a 50-day moving average of $11.84 and a 200-day moving average of $12.59. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 9.23 and a beta of 0.67.

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

Blue Owl Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 12.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Blue Owl Capital’s payout ratio is currently 119.35%.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Blue Owl Capital

Hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc boosted its position in Blue Owl Capital by 79.6% during the third quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock valued at $27,000 after buying an additional 929 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 worth $27,000 after buying an additional 1,320 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of Blue Owl Capital in the 3rd quarter valued at about $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Blue Owl Capital in the 3rd quarter valued at about $30,000. Finally, AG Campbell Advisory LLC purchased a new stake in Blue Owl Capital during the 4th quarter valued at about $36,000. 42.83% of the stock is owned by institutional investors.

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.