Stock Traders Buy High Volume of Put Options on Blue Owl Capital (NYSE:OWL)

Blue Owl Capital Inc. (NYSE:OWL) was the target of unusually large options trading on Monday. Traders acquired 185,771 put options on the stock. This is an increase of approximately 222% compared to the average daily volume of 57,693 put options.

Institutional Investors Weigh In On Blue Owl Capital

A number of large investors have recently bought and sold shares of OWL. Norges Bank bought a new stake in Blue Owl Capital during the 4th quarter worth approximately $140,643,000. William Blair Investment Management LLC bought a new stake in Blue Owl Capital during the 4th quarter worth approximately $113,782,000. Boston Partners grew its position in Blue Owl Capital by 121.9% during the 3rd quarter. Boston Partners now owns 12,153,776 shares of the company’s stock worth $205,493,000 after acquiring an additional 6,677,610 shares during the last quarter. Renaissance Technologies LLC grew its position in Blue Owl Capital by 2,107.1% during the 1st quarter. Renaissance Technologies LLC now owns 6,065,200 shares of the company’s stock worth $55,375,000 after acquiring an additional 5,790,400 shares during the last quarter. Finally, Capital World Investors grew its position in Blue Owl Capital by 5.9% during the 4th quarter. Capital World Investors now owns 90,245,690 shares of the company’s stock worth $1,348,272,000 after acquiring an additional 5,029,134 shares during the last quarter. 35.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on OWL shares. Piper Sandler cut their price target on Blue Owl Capital from $15.00 to $12.50 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft cut Blue Owl Capital from a “buy” rating to a “hold” rating and cut their price target for the company from $15.00 to $10.00 in a report on Tuesday, February 24th. Zacks Research raised Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. TD Cowen reaffirmed a “buy” rating and issued a $14.00 price target on shares of Blue Owl Capital in a report on Monday, May 18th. Finally, BMO Capital Markets cut their price target on Blue Owl Capital from $15.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Blue Owl Capital currently has an average rating of “Moderate Buy” and a consensus target price of $14.04.

Blue Owl Capital Stock Performance

Shares of OWL stock traded up $0.01 during trading hours on Monday, hitting $9.69. The company had a trading volume of 19,350,630 shares, compared to its average volume of 28,663,039. Blue Owl Capital has a 12 month low of $7.95 and a 12 month high of $21.08. The firm has a market capitalization of $15.07 billion, a price-to-earnings ratio of 80.71, a PEG ratio of 1.02 and a beta of 1.20. The firm’s fifty day moving average is $9.59 and its 200 day moving average is $11.88.

Blue Owl Capital (NYSE:OWL) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Blue Owl Capital had a return on equity of 21.97% and a net margin of 2.96%.The company had revenue of $699.88 million for the quarter, compared to analyst estimates of $687.23 million. On average, sell-side analysts expect that Blue Owl Capital will post 0.88 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $0.23 per share. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, May 13th. This represents a $0.92 dividend on an annualized basis and a yield of 9.5%. Blue Owl Capital’s dividend 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.