Concorde Asset Management LLC acquired a new stake in Blue Owl Capital Inc. (NYSE:OWL – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 68,100 shares of the company’s stock, valued at approximately $596,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. NorthRock Partners LLC acquired a new position in Blue Owl Capital in the second quarter valued at approximately $135,000. IFP Advisors Inc boosted its holdings in shares of Blue Owl Capital by 81.9% during the 2nd quarter. IFP Advisors Inc now owns 21,024 shares of the company’s stock worth $184,000 after buying an additional 9,466 shares in the last quarter. Arcus Capital Partners LLC grew its position in shares of Blue Owl Capital by 2.1% during the 2nd quarter. Arcus Capital Partners LLC now owns 689,415 shares of the company’s stock worth $6,032,000 after buying an additional 13,868 shares during the period. Allworth Financial LP grew its position in shares of Blue Owl Capital by 153.9% during the 2nd quarter. Allworth Financial LP now owns 38,735 shares of the company’s stock worth $339,000 after buying an additional 23,481 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Blue Owl Capital by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 174,467 shares of the company’s stock valued at $1,527,000 after acquiring an additional 992 shares in the last quarter. Institutional investors own 35.85% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Citigroup reissued a “market outperform” rating on shares of Blue Owl Capital in a research note on Thursday, July 9th. The Goldman Sachs Group lifted their price target on shares of Blue Owl Capital from $9.50 to $10.50 and gave the company a “neutral” rating in a research note on Monday, August 3rd. UBS Group reiterated a “neutral” rating and set a $9.50 price objective on shares of Blue Owl Capital in a report on Thursday, June 11th. BMO Capital Markets increased their price objective on shares of Blue Owl Capital from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods upgraded Blue Owl Capital to a “hold” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.57.
Blue Owl Capital Trading Down 4.5%
Shares of OWL stock opened at $11.22 on Wednesday. The firm has a fifty day simple moving average of $10.72 and a two-hundred day simple moving average of $9.97. Blue Owl Capital Inc. has a 12 month low of $7.95 and a 12 month high of $19.29. The firm has a market capitalization of $17.49 billion, a PE ratio of 93.52, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22.
Blue Owl Capital (NYSE:OWL – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. Blue Owl Capital had a return on equity of 23.14% and a net margin of 2.71%.The business had revenue of $693.56 million during the quarter, compared to the consensus estimate of $693.15 million. On average, equities analysts predict that Blue Owl Capital Inc. will post 0.88 earnings per share for the current fiscal year.
Blue Owl Capital Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were given a dividend of $0.23 per share. The ex-dividend date was Thursday, August 13th. This represents a $0.92 annualized dividend and a yield of 8.2%. Blue Owl Capital’s dividend payout ratio is presently 766.67%.
Blue Owl Capital Profile
Blue Owl Capital is a global alternative asset manager that focuses on private credit, direct lending and equity-related strategies for institutional investors. Headquartered in New York, the firm develops and manages a range of private markets products designed to provide capital solutions to middle-market and larger corporate borrowers, as well as liquidity and partnership arrangements with private equity firms and other alternative managers.
Its core activities include direct lending and credit strategies that provide senior, unitranche and other structured loan products to companies across industries.
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