Royal Bank of Canada Reaffirms "Outperform" Rating for Blue Owl Capital (NYSE:OBDC)

Blue Owl Capital (NYSE:OBDC - Get Free Report)'s stock had its "outperform" rating restated by analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $17.00 price target on the stock. Royal Bank of Canada's price objective would indicate a potential upside of 13.07% from the stock's current price.

A number of other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods decreased their price target on Blue Owl Capital from $16.00 to $15.50 and set a "market perform" rating for the company in a research note on Tuesday, August 20th. Raymond James lowered Blue Owl Capital from an "outperform" rating to a "market perform" rating in a report on Friday, August 9th. Wells Fargo & Company upped their price target on shares of Blue Owl Capital from $14.00 to $14.50 and gave the company an "underweight" rating in a report on Tuesday, October 29th. Truist Financial reduced 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 research report on Friday, August 9th. Finally, Compass Point raised shares of Blue Owl Capital to a "strong-buy" rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.07.

Blue Owl Capital Price Performance

Shares of NYSE:OBDC traded up $0.12 during trading on Tuesday, reaching $15.04. The company had a trading volume of 1,842,283 shares, compared to its average volume of 1,940,541. The firm's fifty day moving average is $14.89 and its 200 day moving average is $15.34. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $5.87 billion, a PE ratio of 9.34 and a beta of 0.86. Blue Owl Capital has a twelve month low of $13.98 and a twelve month high of $16.91.

Insiders Place Their Bets

In other Blue Owl Capital news, Director Edward H. Dalelio acquired 2,500 shares of Blue Owl Capital stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $15.02 per share, with a total value of $37,550.00. Following the purchase, the director now owns 9,016 shares in the company, valued at approximately $135,420.32. The trade was a 38.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.12% of the company's stock.

Institutional Trading of Blue Owl Capital

Hedge funds have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. increased its stake in Blue Owl Capital by 112.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 12,719 shares of the company's stock valued at $185,000 after buying an additional 6,738 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in shares of Blue Owl Capital by 82.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 61,456 shares of the company's stock worth $895,000 after acquiring an additional 27,745 shares in the last quarter. MML Investors Services LLC boosted its position in Blue Owl Capital by 24.3% during the third quarter. MML Investors Services LLC now owns 28,277 shares of the company's stock valued at $412,000 after purchasing an additional 5,533 shares during the last quarter. Northeast Financial Consultants Inc purchased a new position in Blue Owl Capital in the third quarter valued at about $262,000. Finally, National Bank of Canada FI raised its stake in shares of Blue Owl Capital by 144.7% during the 3rd quarter. National Bank of Canada FI now owns 4,160 shares of the company's stock worth $61,000 after purchasing an additional 2,460 shares in the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

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.