Renaissance Technologies LLC Increases Position in Blue Owl Capital Inc. $OWL

Renaissance Technologies LLC increased its position in shares of Blue Owl Capital Inc. (NYSE:OWL) by 2,107.1% during the 1st quarter, Holdings Channel reports. The firm owned 6,065,200 shares of the company’s stock after acquiring an additional 5,790,400 shares during the period. Renaissance Technologies LLC’s holdings in Blue Owl Capital were worth $55,375,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hsbc Holdings PLC lifted its position in shares of Blue Owl Capital by 129.4% in the fourth quarter. Hsbc Holdings PLC now owns 239,674 shares of the company’s stock valued at $3,590,000 after acquiring an additional 135,184 shares in the last quarter. Verity & Verity LLC boosted its stake in shares of Blue Owl Capital by 45.2% in the fourth quarter. Verity & Verity LLC now owns 1,036,594 shares of the company’s stock worth $15,487,000 after acquiring an additional 322,530 shares during the period. Wealthfront Advisers LLC grew its position in shares of Blue Owl Capital by 258.8% during the first quarter. Wealthfront Advisers LLC now owns 288,826 shares of the company’s stock worth $2,637,000 after purchasing an additional 208,331 shares in the last quarter. Diversify Wealth Management LLC grew its position in shares of Blue Owl Capital by 86.3% during the first quarter. Diversify Wealth Management LLC now owns 456,458 shares of the company’s stock worth $4,053,000 after purchasing an additional 211,419 shares in the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab raised its stake in Blue Owl Capital by 7.8% during the 4th quarter. Danica Pension Livsforsikringsaktieselskab now owns 4,149,597 shares of the company’s stock valued at $61,995,000 after purchasing an additional 300,000 shares during the period. Hedge funds and other institutional investors own 35.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Zacks Research raised Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. reduced their price objective on shares of 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. Keefe, Bruyette & Woods raised shares of Blue Owl Capital to a “hold” rating in a report on Monday, July 20th. BMO Capital Markets lowered their target price on shares of Blue Owl Capital from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, Credit Suisse Group set a $9.10 target price on shares of Blue Owl Capital in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.16.

Blue Owl Capital Trading Up 0.1%

NYSE:OWL opened at $9.46 on Monday. The business’s 50-day moving average is $9.49 and its 200 day moving average is $10.56. Blue Owl Capital Inc. has a 12 month low of $7.95 and a 12 month high of $20.58. The company has a market capitalization of $14.70 billion, a P/E ratio of 78.80, a P/E/G ratio of 1.02 and a beta of 1.22.

Blue Owl Capital (NYSE:OWL) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.19 earnings per share 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 business had revenue of $699.88 million during the quarter, compared to analysts’ expectations of $687.23 million. On average, research analysts forecast that Blue Owl Capital Inc. will post 0.87 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 9.7%. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.23. Blue Owl Capital’s dividend payout ratio is currently 766.67%.

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.