Westfield Capital Management Co. LP Sells 924,016 Shares of Blue Owl Capital Inc. $OWL

Westfield Capital Management Co. LP lessened its stake in Blue Owl Capital Inc. (NYSE:OWL) by 17.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,228,444 shares of the company’s stock after selling 924,016 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.27% of Blue Owl Capital worth $71,588,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. US Bancorp DE increased its position in Blue Owl Capital by 38.7% in the third quarter. US Bancorp DE now owns 14,071 shares of the company’s stock worth $238,000 after buying an additional 3,928 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Blue Owl Capital during the 3rd quarter worth $420,000. TD Asset Management Inc increased its holdings in Blue Owl Capital by 2.4% in the 3rd quarter. TD Asset Management Inc now owns 52,020 shares of the company’s stock worth $881,000 after acquiring an additional 1,220 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in Blue Owl Capital by 33.7% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 25,086 shares of the company’s stock valued at $425,000 after acquiring an additional 6,323 shares during the period. Finally, Explore Capital Management LLC raised its stake in Blue Owl Capital by 39.5% in the 3rd quarter. Explore Capital Management LLC now owns 878,988 shares of the company’s stock valued at $14,881,000 after acquiring an additional 249,000 shares during the period. Hedge funds and other institutional investors own 35.85% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Douglas I. Ostrover acquired 139,327 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were bought at an average cost of $15.06 per share, for a total transaction of $2,098,264.62. Following the completion of the transaction, the chief executive officer owned 158,000 shares in the company, valued at approximately $2,379,480. This trade represents a 746.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig Packer bought 110,227 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was bought at an average cost of $15.06 per share, for a total transaction of $1,660,018.62. Following the completion of the purchase, the insider directly owned 94,000 shares of the company’s stock, valued at $1,415,640. This represents a -679.28% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 395,670 shares of company stock worth $5,952,393 over the last three months. Company insiders own 27.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on OWL. Citigroup reiterated an “outperform” rating on shares of Blue Owl Capital in a research note on Tuesday, January 27th. Evercore set a $14.00 price objective on shares of Blue Owl Capital in a report on Friday, February 6th. Piper Sandler reduced their price objective on shares of Blue Owl Capital from $21.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Zacks Research downgraded Blue Owl Capital from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Finally, JPMorgan Chase & Co. lifted their price target on Blue Owl Capital from $21.50 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Blue Owl Capital has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Blue Owl Capital Price Performance

OWL opened at $11.34 on Thursday. The firm has a market capitalization of $17.69 billion, a P/E ratio of 113.44, a price-to-earnings-growth ratio of 0.86 and a beta of 1.11. Blue Owl Capital Inc. has a one year low of $10.08 and a one year high of $22.25. The company has a fifty day moving average price of $14.13 and a 200-day moving average price of $15.88.

Blue Owl Capital (NYSE:OWL) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Blue Owl Capital had a return on equity of 20.93% and a net margin of 2.75%.The company had revenue of $701.47 million for the quarter, compared to the consensus estimate of $712.75 million. On average, analysts expect that Blue Owl Capital Inc. will post 0.92 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 20th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Friday, February 20th. Blue Owl Capital’s dividend payout ratio (DPR) is 900.00%.

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.