Blue Owl Capital Corporation (NYSE:OBDC) Short Interest Up 24.2% in December

Blue Owl Capital Corporation (NYSE:OBDC) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 13,892,933 shares, an increase of 24.2% from the December 15th total of 11,184,742 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily trading volume, of 4,734,566 shares, the short-interest ratio is presently 2.9 days. Based on an average daily trading volume, of 4,734,566 shares, the short-interest ratio is presently 2.9 days. Approximately 2.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OBDC. Raymond James Financial set a $14.00 price target on shares of Blue Owl Capital and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Citizens Jmp decreased their target price on Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating on the stock in a report on Friday, November 7th. Royal Bank Of Canada lowered their target price on Blue Owl Capital from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 26th. Keefe, Bruyette & Woods cut their price target on Blue Owl Capital from $14.50 to $13.50 and set a “market perform” rating for the company in a report on Monday, November 10th. Finally, Wells Fargo & Company decreased their price objective on Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Blue Owl Capital currently has an average rating of “Moderate Buy” and a consensus target price of $14.56.

Blue Owl Capital Price Performance

Shares of NYSE OBDC traded down $0.15 during mid-day trading on Tuesday, reaching $12.47. The company’s stock had a trading volume of 976,185 shares, compared to its average volume of 3,550,613. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.72 and a quick ratio of 0.72. Blue Owl Capital has a 52 week low of $11.65 and a 52 week high of $15.73. The stock has a fifty day moving average of $12.69 and a two-hundred day moving average of $13.38. The firm has a market capitalization of $6.37 billion, a PE ratio of 8.84 and a beta of 0.67.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $453.07 million during the quarter, compared to the consensus estimate of $466.81 million. Blue Owl Capital had a return on equity of 10.58% and a net margin of 36.89%. As a group, sell-side analysts anticipate that Blue Owl Capital will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 11.9%. The ex-dividend date was Wednesday, December 31st. Blue Owl Capital’s payout ratio is currently 104.96%.

Insider Buying and Selling at Blue Owl Capital

In other news, CEO Craig Packer bought 83,200 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were acquired at an average cost of $11.75 per share, with a total value of $977,600.00. Following the completion of the transaction, the chief executive officer owned 41,600 shares of the company’s stock, valued at approximately $488,800. This trade represents a -200.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Neena Reddy purchased 7,890 shares of Blue Owl Capital stock in a transaction dated Wednesday, November 26th. The shares were acquired at an average cost of $13.06 per share, with a total value of $103,043.40. Following the transaction, the vice president directly owned 7,890 shares in the company, valued at approximately $103,043.40. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. IFP Advisors Inc boosted its stake 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 last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Blue Owl Capital by 166.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company’s stock valued at $27,000 after acquiring an additional 1,320 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Blue Owl Capital in the third quarter valued at $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Blue Owl Capital in the third quarter worth $30,000. Finally, Assetmark Inc. purchased a new stake in Blue Owl Capital during the third quarter valued at $38,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

About Blue Owl Capital

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.