Next Capital Management LLC Buys New Stake in Blue Owl Capital Inc. $OWL

Next Capital Management LLC purchased a new position in shares of Blue Owl Capital Inc. (NYSE:OWL) during the second quarter, Holdings Channel.com reports. The fund purchased 1,688,690 shares of the company’s stock, valued at approximately $18,473,000. Blue Owl Capital makes up approximately 5.0% of Next Capital Management LLC’s holdings, making the stock its 3rd biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Blue Owl Capital by 50.0% during the 1st quarter. Royal Bank of Canada now owns 397,990 shares of the company’s stock worth $7,976,000 after acquiring an additional 132,637 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Blue Owl Capital by 4.0% during the second quarter. Russell Investments Group Ltd. now owns 44,215 shares of the company’s stock worth $849,000 after purchasing an additional 1,703 shares in the last quarter. Jump Financial LLC acquired a new stake in Blue Owl Capital in the second quarter valued at approximately $238,000. California Public Employees Retirement System grew its holdings in Blue Owl Capital by 28.2% in the second quarter. California Public Employees Retirement System now owns 787,255 shares of the company’s stock valued at $15,123,000 after purchasing an additional 172,982 shares during the period. Finally, State Street Corp increased its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 35.85% of the company’s stock.

Blue Owl Capital Stock Down 3.5%

Blue Owl Capital stock opened at $12.22 on Friday. The company has a fifty day simple moving average of $9.86 and a 200-day simple moving average of $10.13. The firm has a market capitalization of $19.05 billion, a price-to-earnings ratio of 101.85, a PEG ratio of 1.41 and a beta of 1.19. Blue Owl Capital Inc. has a 52-week low of $7.95 and a 52-week high of $19.84.

Blue Owl Capital (NYSE:OWL) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. Blue Owl Capital had a net margin of 2.71% and a return on equity of 23.14%. The firm had revenue of $693.56 million for the quarter, compared to analyst estimates of $693.15 million. On average, research analysts anticipate that Blue Owl Capital Inc. will post 0.88 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Thursday, August 13th. Blue Owl Capital’s payout ratio is currently 766.67%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OWL. Barclays lifted their price target on shares of Blue Owl Capital from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Citigroup reiterated a “market outperform” rating on shares of Blue Owl Capital in a research report on Thursday, July 9th. Citizens Jmp reduced their price target on shares of Blue Owl Capital from $21.00 to $17.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. UBS Group reaffirmed a “neutral” rating and issued a $9.50 price target on shares of Blue Owl Capital in a research note on Thursday, June 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Blue Owl Capital from $19.00 to $10.50 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. One research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.44.

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.