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

Blue Owl Capital (NYSE:OBDC)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $17.00 price objective on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 12.88% from the stock’s previous close.

OBDC has been the topic of several other research reports. Raymond James lowered shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Truist Financial reduced their price target 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. Keefe, Bruyette & Woods reduced their price objective on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a report on Tuesday, August 20th. Wells Fargo & Company lifted 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. Finally, Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.07.

Blue Owl Capital Stock Performance

Shares of OBDC opened at $15.06 on Tuesday. The company’s fifty day moving average is $14.90 and its 200-day moving average is $15.34. Blue Owl Capital has a 12 month low of $13.98 and a 12 month high of $16.91. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 9.35 and a beta of 0.86. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.30.

Insider Transactions at Blue Owl Capital

In other news, Director Edward H. Dalelio bought 2,500 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average cost 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 in the company, valued at approximately $135,420.32. This represents a 38.37 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blue Owl Capital

A number of institutional investors have recently added to or reduced their stakes in OBDC. Lake Street Advisors Group LLC acquired a new position in Blue Owl Capital during the first quarter worth $354,000. CANADA LIFE ASSURANCE Co increased its holdings in Blue Owl Capital by 3.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 359,197 shares of the company’s stock worth $5,532,000 after buying an additional 12,548 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Blue Owl Capital by 6.0% during the first quarter. Advisors Asset Management Inc. now owns 277,116 shares of the company’s stock worth $4,262,000 after buying an additional 15,621 shares during the last quarter. Truvestments Capital LLC increased its holdings in Blue Owl Capital by 5.0% during the first quarter. Truvestments Capital LLC now owns 180,619 shares of the company’s stock worth $2,778,000 after buying an additional 8,558 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in shares of Blue Owl Capital in the first quarter valued at $1,592,000. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Company Profile

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.