Blue Owl Capital Corporation (NYSE:OBDC) is considered one of the top undervalued asset management stocks to buy, despite a recent price target cut by Citizens JMP from $17 to $15. The company’s third-quarter results prompted a reset in expectations but still hold strong value going forward.

In its Q3 results, Blue Owl Capital Corporation reported a net investment income per share of $0.37, with a decrease in investment income due to prepayment-related income and interest income from debt investments. New investment commitments increased to $1.3 billion, while sales and repayments totaled $797 million.

CEO Craig W. Packer highlighted the company’s strong quarter, emphasizing a commitment to portfolio credit quality and fundamentals. The planned merger between OBDC and OBDC II aims to create long-term value for shareholders. The board approved a quarterly dividend of $0.37 per share and a $200 million repurchase program.

Blue Owl Capital Corporation provides private capital to businesses and alternative investment opportunities. Operating through three platforms, it offers direct lending solutions to middle-market companies, real assets, and long-term financing to investment managers. While OBDC shows potential, other AI stocks may offer greater upside potential with less downside risk.

Read more at Yahoo Finance: Blue Owl Capital Corp (OBDC) Maintains Outperform Rating Despite Price Target Cut