Navellier & Associates Inc. Purchases New Stake in Blue Owl Capital Inc. $OWL

Navellier & Associates Inc. purchased a new stake in shares of Blue Owl Capital Inc. (NYSE:OWL) in the second quarter, Holdings Channel reports. The firm purchased 84,344 shares of the company’s stock, valued at approximately $738,000.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of Blue Owl Capital by 50.0% during the first quarter. Royal Bank of Canada now owns 397,990 shares of the company’s stock valued at $7,976,000 after buying an additional 132,637 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of 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 acquiring an additional 1,703 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Blue Owl Capital in the 2nd quarter worth about $238,000. California Public Employees Retirement System raised its holdings in shares of Blue Owl Capital by 28.2% in 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 last quarter. Finally, State Street Corp raised its holdings in shares of Blue Owl Capital by 10.6% in the 2nd quarter. State Street Corp now owns 9,880,565 shares of the company’s stock worth $189,806,000 after acquiring an additional 950,700 shares during the last quarter. Institutional investors and hedge funds own 35.85% of the company’s stock.

Blue Owl Capital Price Performance

OWL opened at $12.03 on Friday. The company’s 50-day moving average is $10.29 and its 200 day moving average is $10.02. Blue Owl Capital Inc. has a fifty-two week low of $7.95 and a fifty-two week high of $19.29. The firm has a market capitalization of $18.76 billion, a P/E ratio of 100.26, a PEG ratio of 1.32 and a beta of 1.19.

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

Blue Owl Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Thursday, August 13th. Blue Owl Capital’s payout ratio is presently 766.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods upgraded Blue Owl Capital to a “hold” rating in a research note on Monday, July 20th. Credit Suisse Group set a $9.10 price objective on Blue Owl Capital in a research note on Thursday, July 2nd. The Goldman Sachs Group raised their target price on Blue Owl Capital from $9.50 to $10.50 and gave the company a “neutral” rating in a report on Monday, August 3rd. UBS Group reaffirmed a “neutral” rating and set a $9.50 target price on shares of Blue Owl Capital in a research report on Thursday, June 11th. Finally, TD Cowen reiterated a “buy” rating on shares of Blue Owl Capital in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.57.

Blue Owl Capital Company 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.