Blue Owl Capital (NYSE:OWL) Sees Large Volume Increase – Here’s Why

Blue Owl Capital Inc. (NYSE:OWL) shares saw an uptick in trading volume on Thursday . 6,947,021 shares changed hands during trading, an increase of 18% from the previous session’s volume of 5,872,211 shares.The stock last traded at $23.76 and had previously closed at $22.91.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OWL. The Goldman Sachs Group cut shares of Blue Owl Capital from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $24.75 in a research note on Monday, January 6th. Wells Fargo & Company reduced their price objective on Blue Owl Capital from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods raised their target price on Blue Owl Capital from $22.00 to $26.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Piper Sandler lifted their price target on Blue Owl Capital from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Finally, Oppenheimer increased their price objective on shares of Blue Owl Capital from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Blue Owl Capital presently has an average rating of “Moderate Buy” and a consensus price target of $24.77.

Blue Owl Capital Stock Performance

The business’s 50-day moving average is $23.48 and its two-hundred day moving average is $20.59. The firm has a market capitalization of $35.03 billion, a price-to-earnings ratio of 137.98, a P/E/G ratio of 1.29 and a beta of 1.14.

Blue Owl Capital (NYSE:OWL) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The company had revenue of $600.88 million during the quarter, compared to analyst estimates of $565.93 million. Blue Owl Capital had a net margin of 4.95% and a return on equity of 19.98%. During the same quarter in the previous year, the business earned $0.16 EPS. Analysts forecast that Blue Owl Capital Inc. will post 0.78 EPS for the current year.

Blue Owl Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Monday, November 11th. Blue Owl Capital’s dividend payout ratio is currently 423.55%.

Hedge Funds Weigh In On Blue Owl Capital

Several institutional investors and hedge funds have recently modified their holdings of OWL. JPMorgan Chase & Co. lifted its stake in Blue Owl Capital by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 9,030,397 shares of the company’s stock valued at $174,829,000 after buying an additional 1,372,865 shares in the last quarter. Stone Point Capital LLC acquired a new stake in shares of Blue Owl Capital during the second quarter worth $112,749,000. Westfield Capital Management Co. LP lifted its position in Blue Owl Capital by 4.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,736,287 shares of the company’s stock valued at $130,415,000 after acquiring an additional 293,221 shares in the last quarter. Barclays PLC lifted its position in Blue Owl Capital by 13.7% in the 3rd quarter. Barclays PLC now owns 1,571,806 shares of the company’s stock valued at $30,430,000 after acquiring an additional 189,082 shares in the last quarter. Finally, Capital CS Group LLC acquired a new position in Blue Owl Capital in the 4th quarter worth $620,000. 35.85% of the stock is currently owned by institutional investors and hedge funds.

About Blue Owl Capital

Blue Owl Capital Inc operates as an asset manager in the United States. The company offers permanent capital base solutions that enables it to offer holistic framework of capital solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. It also provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; liquid credit; GP strategic capital products, which offers capital solutions, including GP minority stakes, GP debt financing, and professional sports minority stakes; and real estate products that focuses on acquiring triple net lease real estate by investment grade or creditworthy tenants.