Short Interest in Blue Owl Capital Co. (NYSE:OBDC) Declines By 23.4%

Blue Owl Capital Co. (NYSE:OBDC) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 4,190,000 shares, a decrease of 23.4% from the September 30th total of 5,470,000 shares. Based on an average daily trading volume, of 1,940,000 shares, the short-interest ratio is presently 2.2 days. Currently, 1.2% of the company’s shares are short sold.

Analysts Set New Price Targets

OBDC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their target price on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a report on Tuesday, August 20th. Compass Point raised Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Wells Fargo & Company cut their price objective on Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Blue Owl Capital in a research report on Monday, August 12th. Finally, Truist Financial reduced their target price on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.94.

Blue Owl Capital Stock Performance

NYSE OBDC traded down $0.05 during trading hours on Friday, hitting $15.15. The company had a trading volume of 1,101,608 shares, compared to its average volume of 1,963,892. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $5.91 billion, a PE ratio of 8.46 and a beta of 0.87. The business has a 50 day moving average of $14.88 and a 200-day moving average of $15.44. Blue Owl Capital has a 1-year low of $12.99 and a 1-year high of $16.91.

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 analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $396.76 million during the quarter, compared to the consensus estimate of $388.84 million. Blue Owl Capital had a net margin of 43.61% and a return on equity of 12.66%. As a group, equities research analysts expect that Blue Owl Capital will post 1.91 EPS for the current year.

Blue Owl Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.06 dividend. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.58%. The ex-dividend date was Monday, September 30th. Blue Owl Capital’s dividend payout ratio is currently 82.68%.

Insider Activity at Blue Owl Capital

In related news, Director Edward H. Dalelio purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $15.02 per share, for a total transaction of $37,550.00. Following the completion of the acquisition, the director now owns 9,016 shares in the company, valued at approximately $135,420.32. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of Blue Owl Capital by 19.4% during the first quarter. Van ECK Associates Corp now owns 8,150,533 shares of the company’s stock worth $125,355,000 after acquiring an additional 1,326,277 shares during the last quarter. Boston Partners bought a new stake in shares of Blue Owl Capital in the 1st quarter worth $15,010,000. LSV Asset Management increased its holdings in shares of Blue Owl Capital by 17.3% during the 1st quarter. LSV Asset Management now owns 4,069,047 shares of the company’s stock valued at $62,582,000 after acquiring an additional 600,447 shares during the last quarter. Cercano Management LLC acquired a new stake in Blue Owl Capital in the 1st quarter worth approximately $5,932,000. Finally, Naviter Wealth LLC boosted its position in Blue Owl Capital by 1,373.8% during the first quarter. Naviter Wealth LLC now owns 277,209 shares of the company’s stock worth $4,365,000 after purchasing an additional 258,400 shares during the period. Institutional investors and hedge funds own 42.83% of the company’s stock.

Blue Owl Capital Company Profile

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.