Blue Owl Capital Corporation (NYSE:OBDC) Short Interest Down 21.2% in February

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc increased its holdings in Blue Owl Capital by 79.6% during the 3rd quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock worth $27,000 after purchasing an additional 929 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Blue Owl Capital by 166.0% in the 3rd 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 in the last quarter. Atlantic Union Bankshares Corp purchased a new position 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 acquired a new position in shares of Blue Owl Capital during the third quarter worth about $30,000. Finally, AG Campbell Advisory LLC purchased a new stake in shares of Blue Owl Capital during the fourth quarter worth approximately $36,000. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OBDC shares. Truist Financial lowered their price target on shares of Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Royal Bank Of Canada decreased their target price on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Keefe, Bruyette & Woods reduced their price objective 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 cut shares of Blue Owl Capital from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Zacks Research upgraded Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.06.

Blue Owl Capital Trading Down 0.4%

Shares of NYSE:OBDC traded down $0.04 during midday trading on Friday, reaching $10.95. 5,882,750 shares of the company’s stock were exchanged, compared to its average volume of 7,723,622. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 8.83 and a beta of 0.67. Blue Owl Capital has a fifty-two week low of $10.70 and a fifty-two week high of $15.36. The firm’s 50 day simple moving average is $11.87 and its two-hundred day simple moving average is $12.63. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.17 and a quick ratio of 1.17.

Blue Owl Capital (NYSE:OBDC) last posted its earnings results on Wednesday, February 18th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $439.50 million for the quarter, compared to analysts’ expectations of $454.38 million. As a group, sell-side analysts forecast that Blue Owl Capital will post 1.71 EPS for the current fiscal year.

Blue Owl Capital announced that its board has initiated a share buyback program on Wednesday, February 18th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are 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 given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 13.5%. The ex-dividend date of this dividend is Tuesday, March 31st. Blue Owl Capital’s dividend payout ratio is currently 119.35%.

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.