614,082 Shares in Blue Owl Capital Inc. $OWL Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC acquired a new stake in Blue Owl Capital Inc. (NYSE:OWL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 614,082 shares of the company’s stock, valued at approximately $6,675,000.

Several other hedge funds have also recently added to or reduced their stakes in OWL. Arax Advisory Partners acquired a new position in Blue Owl Capital during the fourth quarter worth about $25,000. Toronto Dominion Bank acquired a new stake in shares of Blue Owl Capital in the fourth quarter valued at approximately $26,000. Lavaca Capital LLC purchased a new position in shares of Blue Owl Capital during the 4th quarter worth approximately $28,000. Los Angeles Capital Management LLC purchased a new position in shares of Blue Owl Capital during the 4th quarter worth approximately $41,000. Finally, Headlands Technologies LLC acquired a new position in shares of Blue Owl Capital during the 2nd quarter worth approximately $51,000. 35.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OWL. UBS Group reaffirmed a “neutral” rating and issued a $9.50 target price on shares of Blue Owl Capital in a research note on Thursday, June 11th. Citigroup restated a “market outperform” rating on shares of Blue Owl Capital in a research report on Thursday, July 9th. Oppenheimer decreased their price objective on Blue Owl Capital from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. JPMorgan Chase & Co. dropped their price objective on Blue Owl Capital from $19.00 to $10.50 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Finally, Capital One Financial set a $12.00 target price on shares of Blue Owl Capital in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.44.

Blue Owl Capital Stock Up 1.7%

OWL stock opened at $11.78 on Thursday. The stock has a market capitalization of $18.37 billion, a price-to-earnings ratio of 98.20, a price-to-earnings-growth ratio of 1.29 and a beta of 1.19. Blue Owl Capital Inc. has a 52-week low of $7.95 and a 52-week high of $19.29. The stock’s fifty day simple moving average is $9.99 and its 200-day simple moving average is $10.04.

Blue Owl Capital (NYSE:OWL) last released its earnings results on Thursday, July 30th. The company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. Blue Owl Capital had a return on equity of 23.14% and a net margin of 2.71%.The firm had revenue of $693.56 million during the quarter, compared to analyst estimates of $693.15 million. As a group, analysts anticipate that Blue Owl Capital Inc. will post 0.88 earnings per share for the current fiscal year.

Blue Owl Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be issued a $0.23 dividend. The ex-dividend date is Thursday, August 13th. This represents a $0.92 annualized dividend and a yield of 7.8%. Blue Owl Capital’s payout ratio is 766.67%.

Blue Owl Capital Company 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.