Short Interest in Blue Owl Capital Co. (NYSE:OBDC) Drops By 15.2%

Blue Owl Capital Co. (NYSE:OBDC) saw a significant decrease in short interest in July. As of July 15th, there was short interest totalling 8,390,000 shares, a decrease of 15.2% from the June 30th total of 9,890,000 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average trading volume of 1,960,000 shares, the days-to-cover ratio is presently 4.3 days.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OBDC shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $16.00 price target on shares of Blue Owl Capital in a report on Thursday, May 23rd. Royal Bank of Canada increased their price objective on Blue Owl Capital from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Truist Financial increased their price objective on Blue Owl Capital from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Hovde Group increased their price objective on Blue Owl Capital from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.19.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. CWM LLC lifted its position in shares of Blue Owl Capital by 98.6% in 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 last quarter. Heritage Wealth Advisors acquired a new stake in shares of Blue Owl Capital in the fourth quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new stake in shares of Blue Owl Capital in the first quarter valued at approximately $40,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Blue Owl Capital in the fourth quarter valued at approximately $38,000. Finally, Spire Wealth Management acquired a new stake in shares of Blue Owl Capital in the fourth quarter valued at approximately $45,000. 42.83% of the stock is owned by institutional investors and hedge funds.

Blue Owl Capital Stock Performance

Shares of NYSE OBDC opened at $15.46 on Tuesday. The stock has a 50 day moving average price of $15.88 and a 200 day moving average price of $15.55. Blue Owl Capital has a 52 week low of $12.99 and a 52 week high of $16.91. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market capitalization of $6.03 billion, a PE ratio of 7.81 and a beta of 0.88.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). Blue Owl Capital had a net margin of 48.25% and a return on equity of 12.64%. The company had revenue of $399.58 million for the quarter, compared to analyst estimates of $399.16 million. Analysts predict that Blue Owl Capital will post 1.88 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a yield of 10%. Blue Owl Capital’s dividend payout ratio (DPR) 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.