Blue Owl Capital Co. (NYSE:OBDC) Short Interest Up 51.6% in August

Blue Owl Capital Co. (NYSE:OBDC) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 4,670,000 shares, a growth of 51.6% from the August 15th total of 3,080,000 shares. Based on an average daily volume of 2,090,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.3% of the shares of the company are sold short.

Insider Activity

In related news, Director Edward H. Dalelio acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $135,420.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. purchased a new stake in Blue Owl Capital during the fourth quarter valued at approximately $2,644,000. Avantax Advisory Services Inc. purchased a new stake in shares of Blue Owl Capital during the fourth quarter worth about $474,000. Beacon Pointe Advisors LLC bought a new stake in Blue Owl Capital during the 4th quarter valued at approximately $299,000. Meridian Wealth Management LLC purchased a new position in Blue Owl Capital in the 4th quarter worth approximately $496,000. Finally, Kingsview Wealth Management LLC bought a new position in Blue Owl Capital in the 4th quarter worth approximately $151,000. Institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

Shares of NYSE:OBDC opened at $14.80 on Monday. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 7.47 and a beta of 0.87. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.84 and a quick ratio of 0.84. Blue Owl Capital has a one year low of $12.99 and a one year high of $16.91. The company’s fifty day moving average price is $15.02 and its 200-day moving average price is $15.52.

Blue Owl Capital (NYSE:OBDC) last issued its earnings results on Wednesday, August 7th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $396.76 million for the quarter, compared to analysts’ expectations of $388.84 million. On average, equities research analysts anticipate that Blue Owl Capital will post 1.93 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.62%. Blue Owl Capital’s dividend payout ratio (DPR) is 74.75%.

Wall Street Analyst Weigh In

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

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.