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Owl Rock (ORCC) to be Rebranded to Blue Owl Capital From Jul 6
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Owl Rock Capital Corporation announced that the company is rebranding itself by changing its name, website and ticker. No shareholder vote will take place related to the name changes. The board of directors of ORCC has approved the rebranding.
Owl Rock Capital will be renamed to Blue Owl Capital Corporation, effective Jul 6, 2023. Its ticker symbol will be changed to OBDC from ORCC. The specialty finance company will have a new website: www.blueowlcapitalcorporation.com. The company expects the name change to not affect its day-to-day business. The move is likely to bring operations under one Blue Owl brand.
An investment adviser, which is an indirect affiliate of Blue Owl Capital Inc. (OWL - Free Report) , manages Owl Rock Capital. Per media reports, the rebranding effort is coinciding with a dispute among the co-founders of concerned firms. Blue Owl Capital was created in 2021 after Owl Rock Capital Group and Dyal Capital Partners merged through a SPAC deal.
Owl Rock Capital had investments in 187 portfolio companies at the first quarter-end. The aggregate fair value of the companies was at $13.2 billion. As of Mar 31, 2023, ORCC had around $71.6 billion assets under management. Owl Rock Capital Advisors LLC, the investment adviser of the firm, will also be renamed to Blue Owl Credit Advisors LLC.
Price Performance
Shares of Owl Rock Capital have gained 8.4% in the past year against the 0.4% fall of the industry.
Based in Las Vegas, Axos Financial is a consumer and business banking products provider. The Zacks Consensus Estimate for AX’s current year earnings indicates a 16.1% year-over-year increase.
Headquartered in San Francisco, Forge Global offers marketplace infrastructure, data services, as well as technology solutions for participants in the private market. The Zacks Consensus Estimate for FRGE’s 2023 earnings indicates a 27.9% year-over-year improvement.
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Owl Rock (ORCC) to be Rebranded to Blue Owl Capital From Jul 6
Owl Rock Capital Corporation announced that the company is rebranding itself by changing its name, website and ticker. No shareholder vote will take place related to the name changes. The board of directors of ORCC has approved the rebranding.
Owl Rock Capital will be renamed to Blue Owl Capital Corporation, effective Jul 6, 2023. Its ticker symbol will be changed to OBDC from ORCC. The specialty finance company will have a new website: www.blueowlcapitalcorporation.com. The company expects the name change to not affect its day-to-day business. The move is likely to bring operations under one Blue Owl brand.
An investment adviser, which is an indirect affiliate of Blue Owl Capital Inc. (OWL - Free Report) , manages Owl Rock Capital. Per media reports, the rebranding effort is coinciding with a dispute among the co-founders of concerned firms. Blue Owl Capital was created in 2021 after Owl Rock Capital Group and Dyal Capital Partners merged through a SPAC deal.
Owl Rock Capital had investments in 187 portfolio companies at the first quarter-end. The aggregate fair value of the companies was at $13.2 billion. As of Mar 31, 2023, ORCC had around $71.6 billion assets under management. Owl Rock Capital Advisors LLC, the investment adviser of the firm, will also be renamed to Blue Owl Credit Advisors LLC.
Price Performance
Shares of Owl Rock Capital have gained 8.4% in the past year against the 0.4% fall of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Owl Rock Capital currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader finance space are Axos Financial, Inc. (AX - Free Report) and Forge Global Holdings, Inc. (FRGE - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Based in Las Vegas, Axos Financial is a consumer and business banking products provider. The Zacks Consensus Estimate for AX’s current year earnings indicates a 16.1% year-over-year increase.
Headquartered in San Francisco, Forge Global offers marketplace infrastructure, data services, as well as technology solutions for participants in the private market. The Zacks Consensus Estimate for FRGE’s 2023 earnings indicates a 27.9% year-over-year improvement.