Blue Owl Capital (NYSE:OWL) Shares Gap Up – Here’s Why

Blue Owl Capital Inc. (NYSE:OWL) shares gapped up prior to trading on Thursday . The stock had previously closed at $8.64, but opened at $9.20. Blue Owl Capital shares last traded at $9.1540, with a volume of 7,438,709 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on OWL shares. JPMorgan Chase & Co. dropped their price objective on Blue Owl Capital from $19.00 to $10.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 29th. UBS Group reissued a “neutral” rating and set a $9.50 price target on shares of Blue Owl Capital in a research report on Thursday, June 11th. Piper Sandler lowered their price target on shares of Blue Owl Capital from $15.00 to $12.50 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Oppenheimer cut their price objective on shares of Blue Owl Capital from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Finally, Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Blue Owl Capital currently has an average rating of “Moderate Buy” and a consensus target price of $14.04.

Blue Owl Capital Trading Up 5.9%

The stock has a 50-day moving average price of $9.63 and a two-hundred day moving average price of $11.28. The stock has a market cap of $14.22 billion, a price-to-earnings ratio of 76.31, a PEG ratio of 0.92 and a beta of 1.22.

Blue Owl Capital (NYSE:OWL) last announced its earnings results on Thursday, April 30th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Blue Owl Capital had a return on equity of 21.97% and a net margin of 2.96%.The company had revenue of $699.88 million for the quarter, compared to analyst estimates of $687.23 million. Research analysts predict that Blue Owl Capital Inc. will post 0.88 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 13th. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.23. This represents a $0.92 dividend on an annualized basis and a dividend yield of 10.1%. Blue Owl Capital’s payout ratio is presently 766.67%.

Hedge Funds Weigh In On Blue Owl Capital

Several hedge funds have recently modified their holdings of the stock. Cresset Asset Management LLC increased its position in shares of Blue Owl Capital by 1,345.0% in the 3rd quarter. Cresset Asset Management LLC now owns 1,379,485 shares of the company’s stock valued at $23,355,000 after acquiring an additional 1,284,021 shares during the period. JPMorgan Chase & Co. lifted its position in Blue Owl Capital by 16.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,572,226 shares of the company’s stock worth $195,920,000 after acquiring an additional 1,667,608 shares during the period. Capital International Investors lifted its position in Blue Owl Capital by 3.5% during the 3rd quarter. Capital International Investors now owns 62,726,334 shares of the company’s stock worth $1,061,999,000 after acquiring an additional 2,141,873 shares during the period. Elevation Point Wealth Partners LLC grew its stake in Blue Owl Capital by 5,256.9% during the 3rd quarter. Elevation Point Wealth Partners LLC now owns 374,236 shares of the company’s stock valued at $6,336,000 after purchasing an additional 367,250 shares during the last quarter. Finally, GW&K Investment Management LLC grew its stake in Blue Owl Capital by 84.8% during the 3rd quarter. GW&K Investment Management LLC now owns 1,507,781 shares of the company’s stock valued at $25,527,000 after purchasing an additional 692,073 shares during the last quarter. Institutional investors and hedge funds own 35.85% of the company’s stock.

About Blue Owl Capital

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.