Blue Owl Capital (NYSE:OWL) Shares Gap Up – Here’s Why

Blue Owl Capital Inc. (NYSE:OWL)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $8.64, but opened at $9.20. Blue Owl Capital shares last traded at $9.1540, with a volume of 7,438,709 shares trading hands.

Analyst Upgrades and Downgrades

OWL has been the topic of several analyst reports. UBS Group reissued a “neutral” rating and set a $9.50 price target on shares of Blue Owl Capital in a research report on Thursday, June 11th. Citizens Jmp decreased their price objective on Blue Owl Capital from $23.00 to $21.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Piper Sandler dropped their target price on Blue Owl Capital from $15.00 to $12.50 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. JPMorgan Chase & Co. dropped their target price 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. Finally, Oppenheimer reduced their price target on Blue Owl Capital from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.71.

Blue Owl Capital Stock Performance

The firm has a market cap of $14.03 billion, a P/E ratio of 75.19, a P/E/G ratio of 0.96 and a beta of 1.22. The firm’s fifty day moving average is $9.59 and its 200 day moving average is $11.22.

Blue Owl Capital (NYSE:OWL) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $699.88 million for the quarter, compared to analysts’ expectations of $687.23 million. Blue Owl Capital had a net margin of 2.96% and a return on equity of 21.97%. As a group, equities research analysts forecast that Blue Owl Capital Inc. will post 0.88 EPS for the current year.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.23. This represents a $0.92 annualized dividend and a dividend yield of 10.2%. Blue Owl Capital’s dividend payout ratio (DPR) is currently 766.67%.

Institutional Trading of Blue Owl Capital

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in 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 buying an additional 132,637 shares during the period. Russell Investments Group Ltd. boosted its position 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 valued at $849,000 after acquiring an additional 1,703 shares during the period. Jump Financial LLC acquired a new position in shares of Blue Owl Capital in the second quarter valued at about $238,000. California Public Employees Retirement System grew its stake in shares of 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 acquiring an additional 172,982 shares in the last quarter. Finally, State Street Corp increased its position in Blue Owl Capital by 10.6% during the second 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 period. 35.85% of the stock is currently owned by institutional investors.

About Blue Owl Capital

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.