Blue Owl Capital (NYSE:OWL) Sees Large Volume Increase – What’s Next?

Shares of Blue Owl Capital Inc. (NYSE:OWL) saw unusually-strong trading volume on Thursday . Approximately 6,947,021 shares were traded during mid-day trading, an increase of 18% from the previous session’s volume of 5,872,211 shares.The stock last traded at $23.76 and had previously closed at $22.91.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. TD Cowen raised shares of Blue Owl Capital from a “hold” rating to a “buy” rating and raised their price target for the stock from $26.00 to $28.00 in a research note on Thursday. The Goldman Sachs Group downgraded Blue Owl Capital from a “buy” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $24.75 in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their price target on shares of Blue Owl Capital from $22.00 to $26.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. UBS Group lifted their price objective on shares of Blue Owl Capital from $20.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company lowered their price objective on shares of Blue Owl Capital from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.77.

Blue Owl Capital Stock Performance

The company’s fifty day simple moving average is $23.48 and its two-hundred day simple moving average is $20.59. The stock has a market capitalization of $35.03 billion, a P/E ratio of 137.98, a PEG ratio of 1.29 and a beta of 1.14.

Blue Owl Capital (NYSE:OWL) last posted its earnings results on Thursday, October 31st. The company reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. The company had revenue of $600.88 million for the quarter, compared to the consensus estimate of $565.93 million. Blue Owl Capital had a return on equity of 19.98% and a net margin of 4.95%. During the same quarter in the prior year, the business earned $0.16 earnings per share. On average, research analysts predict that Blue Owl Capital Inc. will post 0.78 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Monday, November 11th. Blue Owl Capital’s payout ratio is 423.55%.

Hedge Funds Weigh In On Blue Owl Capital

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its position in shares of Blue Owl Capital by 29.9% during the 3rd quarter. FMR LLC now owns 35,324,089 shares of the company’s stock worth $683,874,000 after purchasing an additional 8,138,475 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Blue Owl Capital by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 9,030,397 shares of the company’s stock valued at $174,829,000 after buying an additional 1,372,865 shares during the period. State Street Corp boosted its stake in shares of Blue Owl Capital by 5.6% in the third quarter. State Street Corp now owns 8,452,073 shares of the company’s stock valued at $163,632,000 after buying an additional 449,066 shares during the period. Geode Capital Management LLC boosted its stake in shares of Blue Owl Capital by 14.2% in the third quarter. Geode Capital Management LLC now owns 8,152,157 shares of the company’s stock valued at $157,870,000 after buying an additional 1,016,505 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in Blue Owl Capital by 4.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 6,736,287 shares of the company’s stock worth $130,415,000 after acquiring an additional 293,221 shares during the period. 35.85% of the stock is currently owned by institutional investors and hedge funds.

About Blue Owl Capital

Blue Owl Capital Inc operates as an asset manager in the United States. The company offers permanent capital base solutions that enables it to offer holistic framework of capital solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. It also provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; liquid credit; GP strategic capital products, which offers capital solutions, including GP minority stakes, GP debt financing, and professional sports minority stakes; and real estate products that focuses on acquiring triple net lease real estate by investment grade or creditworthy tenants.