Estuary Capital Management LP Purchases 3,241,040 Shares of Blue Owl Capital Inc. $OWL

Estuary Capital Management LP increased its position in Blue Owl Capital Inc. (NYSE:OWL) by 338.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,197,297 shares of the company’s stock after acquiring an additional 3,241,040 shares during the quarter. Blue Owl Capital accounts for 6.4% of Estuary Capital Management LP’s holdings, making the stock its 3rd largest position. Estuary Capital Management LP’s holdings in Blue Owl Capital were worth $38,321,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Blue Owl Capital by 50.0% in the 1st quarter. Royal Bank of Canada now owns 397,990 shares of the company’s stock valued at $7,976,000 after acquiring an additional 132,637 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Blue Owl Capital by 4.0% in the second quarter. Russell Investments Group Ltd. now owns 44,215 shares of the company’s stock worth $849,000 after acquiring an additional 1,703 shares during the period. Jump Financial LLC bought a new stake in shares of Blue Owl Capital in the 2nd quarter valued at $238,000. California Public Employees Retirement System grew its holdings in Blue Owl Capital by 28.2% during the 2nd quarter. California Public Employees Retirement System now owns 787,255 shares of the company’s stock worth $15,123,000 after acquiring an additional 172,982 shares during the period. Finally, State Street Corp lifted its stake in Blue Owl Capital by 10.6% in the second quarter. State Street Corp now owns 9,880,565 shares of the company’s stock valued at $189,806,000 after buying an additional 950,700 shares during the period. Institutional investors own 35.85% of the company’s stock.

Blue Owl Capital Trading Up 2.4%

Shares of NYSE:OWL opened at $9.67 on Tuesday. The stock’s fifty day simple moving average is $9.49 and its two-hundred day simple moving average is $10.51. Blue Owl Capital Inc. has a 1-year low of $7.95 and a 1-year high of $20.58. The stock has a market cap of $15.04 billion, a PE ratio of 80.61, a price-to-earnings-growth ratio of 1.02 and a beta of 1.22.

Blue Owl Capital (NYSE:OWL) last posted its earnings results on Thursday, April 30th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $699.88 million during the quarter, compared to analyst estimates of $687.23 million. Blue Owl Capital had a net margin of 2.96% and a return on equity of 21.97%. On average, sell-side analysts forecast that Blue Owl Capital Inc. will post 0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on OWL shares. JPMorgan Chase & Co. decreased their target price 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. TD Cowen reaffirmed a “buy” rating and set a $14.00 target price on shares of Blue Owl Capital in a research report on Monday, May 18th. UBS Group reiterated a “neutral” rating and issued a $9.50 target price on shares of Blue Owl Capital in a report on Thursday, June 11th. Oppenheimer reduced their price target on shares of Blue Owl Capital from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. 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 given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.16.

Blue Owl Capital 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.