Park Avenue Securities LLC Sells 56,362 Shares of Blue Owl Capital Inc. $OWL

Park Avenue Securities LLC reduced its position in Blue Owl Capital Inc. (NYSE:OWL) by 81.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,895 shares of the company’s stock after selling 56,362 shares during the period. Park Avenue Securities LLC’s holdings in Blue Owl Capital were worth $117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in OWL. RDST Capital LLC lifted its stake in shares of Blue Owl Capital by 22.1% during the first quarter. RDST Capital LLC now owns 7,648,935 shares of the company’s stock valued at $69,835,000 after acquiring an additional 1,383,450 shares during the period. Renaissance Technologies LLC boosted its holdings in Blue Owl Capital by 2,107.1% in the first quarter. Renaissance Technologies LLC now owns 6,065,200 shares of the company’s stock valued at $55,375,000 after acquiring an additional 5,790,400 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Blue Owl Capital in the second quarter worth about $54,883,000. Estuary Capital Management LP increased its position in Blue Owl Capital by 338.9% in the first quarter. Estuary Capital Management LP now owns 4,197,297 shares of the company’s stock worth $38,321,000 after purchasing an additional 3,241,040 shares during the period. Finally, Lalia Capital LLC bought a new stake in Blue Owl Capital during the 2nd quarter worth about $34,952,000. Institutional investors own 35.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on OWL. Raymond James Financial restated a “strong-buy” rating and set a $15.00 target price on shares of Blue Owl Capital in a research report on Wednesday, November 4th. HSBC set a $17.00 price objective on shares of Blue Owl Capital in a report on Thursday, September 24th. Citigroup reaffirmed a “market outperform” rating on shares of Blue Owl Capital in a research note on Thursday, September 24th. BMO Capital Markets lowered their target price on shares of Blue Owl Capital from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, October 27th. Finally, Barclays upped their target price on shares of Blue Owl Capital from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Blue Owl Capital currently has an average rating of “Moderate Buy” and a consensus target price of $12.89.

Blue Owl Capital Stock Performance

Shares of NYSE:OWL opened at $10.36 on Tuesday. Blue Owl Capital Inc. has a 52 week low of $7.95 and a 52 week high of $17.00. The company has a market capitalization of $16.16 billion, a PE ratio of 74.02, a PEG ratio of 1.19 and a beta of 1.31. The company has a 50 day moving average price of $9.89 and a two-hundred day moving average price of $10.21.

Blue Owl Capital (NYSE:OWL) last posted its earnings results on Thursday, October 29th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $752.60 million for the quarter, compared to analyst estimates of $698.10 million. Blue Owl Capital had a net margin of 3.08% and a return on equity of 24.70%. On average, sell-side analysts forecast that Blue Owl Capital Inc. will post 0.89 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Tuesday, November 10th will be given a $0.23 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.9%. Blue Owl Capital’s dividend payout ratio is currently 657.14%.

Insider Buying and Selling

In other Blue Owl Capital news, General Counsel Neena Reddy sold 40,292 shares of Blue Owl Capital stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $10.40, for a total transaction of $419,036.80. Following the transaction, the general counsel directly owned 575,892 shares in the company, valued at approximately $5,989,276.80. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 25.74% of the company’s stock.

Blue Owl Capital Profile

Blue Owl Capital Inc is an alternative asset manager that provides private-market investment strategies and capital solutions to institutional and individual investors. Its businesses span private credit, GP strategic capital and real assets.

Through its credit platform, the company provides financing to businesses, including middle-market companies. Its GP strategic capital business invests in and provides financing to alternative asset managers, while its real assets platform focuses on areas such as real estate and infrastructure.

Blue Owl was formed in 2021 through the combination of Owl Rock Capital Group and Dyal Capital Partners.