Blue Owl Capital Corporation (NYSE:OBDC) Short Interest Update

Key Points

• Blue Owl Capital Corporation's short interest rose significantly by 46.3% in September, reaching 12,540,000 shares, making up approximately 2.5% of its total shares.
• The company recently increased its quarterly dividend from $0.01 to $0.02, representing a 0.6% yield, though its payout ratio is high at 98.01%.
• Blue Owl Capital's stock currently shows a consensus rating of "Moderate Buy" with an average price target of $15.21 from analysts.

Blue Owl Capital Corporation (NYSE:OBDC - Get Free Report) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 12,540,000 shares, a growth of 46.3% from the September 15th total of 8,570,000 shares. Approximately 2.5% of the company's shares are short sold. Based on an average daily volume of 3,300,000 shares, the short-interest ratio is presently 3.8 days. Based on an average daily volume of 3,300,000 shares, the short-interest ratio is presently 3.8 days. Approximately 2.5% of the company's shares are short sold.

Hedge Funds Weigh In On Blue Owl Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC bought a new position in Blue Owl Capital in the 2nd quarter valued at approximately $734,619,000. Oregon Public Employees Retirement Fund lifted its position in Blue Owl Capital by 222.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company's stock valued at $236,007,000 after acquiring an additional 11,098,695 shares in the last quarter. State of New Jersey Common Pension Fund A bought a new position in Blue Owl Capital in the 2nd quarter valued at approximately $218,884,000. Bank of America Corp DE lifted its holdings in shares of Blue Owl Capital by 4.3% during the 2nd quarter. Bank of America Corp DE now owns 12,463,438 shares of the company's stock valued at $178,726,000 after buying an additional 517,294 shares during the period. Finally, Cresset Asset Management LLC lifted its holdings in shares of Blue Owl Capital by 85.8% during the 1st quarter. Cresset Asset Management LLC now owns 8,248,547 shares of the company's stock valued at $123,979,000 after buying an additional 3,809,000 shares during the period. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Stock Performance

Blue Owl Capital stock opened at $12.97 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $6.63 billion, a P/E ratio of 8.59 and a beta of 0.75. The stock's 50 day moving average is $13.54 and its 200 day moving average is $14.03. Blue Owl Capital has a twelve month low of $12.04 and a twelve month high of $15.73.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. The company had revenue of $485.84 million for the quarter, compared to the consensus estimate of $480.42 million. Blue Owl Capital had a return on equity of 11.24% and a net margin of 38.29%. On average, equities research analysts predict that Blue Owl Capital will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.02 dividend. This is a boost from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.08 annualized dividend and a yield of 0.6%. Blue Owl Capital's payout ratio is currently 98.01%.

Analyst Ratings Changes

OBDC has been the topic of a number of research analyst reports. Raymond James Financial set a $14.00 target price on Blue Owl Capital and gave the stock an "outperform" rating in a report on Tuesday, October 7th. Zacks Research downgraded Blue Owl Capital from a "hold" rating to a "strong sell" rating in a report on Tuesday. Finally, LADENBURG THALM/SH SH upgraded Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell 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 $15.21.

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.

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