Blue Owl Capital Inc. $OWL is Explore Capital Management LLC’s 6th Largest Position

Explore Capital Management LLC reduced its position in shares of Blue Owl Capital Inc. (NYSE:OWL) by 29.3% in the 4th quarter, HoldingsChannel reports. The firm owned 621,318 shares of the company’s stock after selling 257,670 shares during the period. Blue Owl Capital comprises approximately 7.7% of Explore Capital Management LLC’s holdings, making the stock its 6th largest position. Explore Capital Management LLC’s holdings in Blue Owl Capital were worth $9,282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in Blue Owl Capital by 1.4% during the third quarter. Capital World Investors now owns 85,216,556 shares of the company’s stock worth $1,442,725,000 after purchasing an additional 1,143,201 shares in the last quarter. Vanguard Group Inc. raised its holdings in Blue Owl Capital by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 68,608,868 shares of the company’s stock worth $1,025,016,000 after purchasing an additional 691,980 shares in the last quarter. Capital International Investors raised its holdings in Blue Owl Capital by 3.5% during the third quarter. Capital International Investors now owns 62,726,334 shares of the company’s stock worth $1,061,999,000 after purchasing an additional 2,141,873 shares in the last quarter. Bank of America Corp DE raised its holdings in Blue Owl Capital by 8.4% during the third quarter. Bank of America Corp DE now owns 22,563,953 shares of the company’s stock worth $382,008,000 after purchasing an additional 1,751,024 shares in the last quarter. Finally, Boston Partners raised its holdings in Blue Owl Capital by 121.9% during the third quarter. Boston Partners now owns 12,153,776 shares of the company’s stock worth $205,493,000 after purchasing an additional 6,677,610 shares in the last quarter. 35.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Blue Owl Capital from $19.00 to $10.50 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Oppenheimer decreased their price objective on shares of Blue Owl Capital from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. The Goldman Sachs Group decreased their price objective on shares of Blue Owl Capital from $14.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Barclays boosted their price objective on shares of Blue Owl Capital from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Citizens Jmp decreased their price objective on shares of Blue Owl Capital from $23.00 to $21.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. One investment 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.04.

Blue Owl Capital Trading Up 5.2%

OWL stock opened at $10.20 on Friday. The company has a market cap of $15.85 billion, a P/E ratio of 84.96, a P/E/G ratio of 1.02 and a beta of 1.20. Blue Owl Capital Inc. has a 52 week low of $7.95 and a 52 week high of $21.08. The company’s 50-day moving average price is $9.51 and its 200 day moving average price is $12.06.

Blue Owl Capital (NYSE:OWL) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Blue Owl Capital had a net margin of 2.96% and a return on equity of 21.97%. The company had revenue of $699.88 million for the quarter, compared to the consensus estimate of $687.23 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 9.0%. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Wednesday, May 13th. Blue Owl Capital’s payout ratio is currently 766.67%.

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.