Blue Owl Capital Co. (NYSE:OBDC) Sees Large Decrease in Short Interest

Blue Owl Capital Co. (NYSE:OBDC) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 3,820,000 shares, a decline of 18.2% from the August 31st total of 4,670,000 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily volume of 2,000,000 shares, the short-interest ratio is currently 1.9 days.

Insider Transactions at Blue Owl Capital

In related news, Director Edward H. Dalelio bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average price of $15.02 per share, for a total transaction of $37,550.00. Following the transaction, the director now directly owns 9,016 shares of the company’s stock, valued at $135,420.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Blue Owl Capital

Several institutional investors have recently added to or reduced their stakes in OBDC. National Bank of Canada FI bought a new position in Blue Owl Capital during the second quarter valued at about $26,000. CWM LLC grew its position in Blue Owl Capital by 98.6% during the second quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after buying an additional 1,032 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Blue Owl Capital during the fourth quarter valued at about $38,000. Headlands Technologies LLC purchased a new stake in Blue Owl Capital during the first quarter valued at about $40,000. Finally, Retirement Group LLC lifted its holdings in Blue Owl Capital by 216.8% during the first quarter. Retirement Group LLC now owns 3,105 shares of the company’s stock valued at $48,000 after purchasing an additional 2,125 shares during the last quarter. Institutional investors own 42.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OBDC. Wells Fargo & Company dropped their target price on shares of Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Raymond James lowered shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods decreased their price target on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a research note on Tuesday, August 20th. Finally, Truist Financial decreased their price target on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.94.

Blue Owl Capital Stock Up 0.7 %

Shares of NYSE OBDC traded up $0.10 during trading on Friday, hitting $15.00. The stock had a trading volume of 2,222,960 shares, compared to its average volume of 2,000,431. Blue Owl Capital has a 12 month low of $12.99 and a 12 month high of $16.91. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $5.85 billion, a PE ratio of 7.58 and a beta of 0.87. The firm has a fifty day moving average of $14.89 and a two-hundred day moving average of $15.49.

Blue Owl Capital (NYSE:OBDC) last posted its earnings results on Wednesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. Blue Owl Capital had a net margin of 43.61% and a return on equity of 12.66%. The firm had revenue of $396.76 million during the quarter, compared to analyst estimates of $388.84 million. As a group, equities research analysts forecast that Blue Owl Capital will post 1.93 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.24 annualized dividend and a yield of 1.60%. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.05. Blue Owl Capital’s dividend payout ratio is presently 74.75%.

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.