Renaissance Technologies LLC grew its holdings in shares of Blue Owl Capital Inc. (NYSE:OWL – Get Rating) by 109.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 787,400 shares of the company’s stock after acquiring an additional 410,600 shares during the period. Renaissance Technologies LLC owned about 0.06% of Blue Owl Capital worth $7,268,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of OWL. Lazard Asset Management LLC bought a new position in Blue Owl Capital during the third quarter worth $951,000. Boothbay Fund Management LLC bought a new position in Blue Owl Capital during the third quarter worth $136,000. Ergoteles LLC bought a new position in Blue Owl Capital during the third quarter worth $752,000. Nuveen Asset Management LLC raised its stake in Blue Owl Capital by 50.9% during the third quarter. Nuveen Asset Management LLC now owns 1,229,942 shares of the company’s stock worth $11,352,000 after buying an additional 415,113 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in Blue Owl Capital by 3.2% during the third quarter. MetLife Investment Management LLC now owns 25,791 shares of the company’s stock worth $238,000 after buying an additional 808 shares during the last quarter. Institutional investors own 29.68% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on OWL shares. Credit Suisse Group set a $11.50 target price on shares of Blue Owl Capital in a research note on Wednesday, November 23rd. The Goldman Sachs Group raised their price target on shares of Blue Owl Capital from $15.00 to $16.75 and gave the stock a “buy” rating in a report on Tuesday, February 14th. JMP Securities raised their price target on shares of Blue Owl Capital from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Tuesday, February 14th. Finally, Keefe, Bruyette & Woods cut shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating and set a $13.00 price target for the company. in a report on Monday, January 2nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.18.
Blue Owl Capital Price Performance
Blue Owl Capital (NYSE:OWL – Get Rating) last issued its quarterly earnings data on Monday, February 13th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. The firm had revenue of $395.51 million during the quarter, compared to analysts’ expectations of $381.39 million. Blue Owl Capital had a negative net margin of 0.68% and a positive return on equity of 13.14%. During the same period last year, the company earned $0.12 earnings per share. As a group, equities research analysts anticipate that Blue Owl Capital Inc. will post 0.71 earnings per share for the current fiscal year.
Blue Owl Capital Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 6th. Investors of record on Friday, February 24th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, February 23rd. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 4.22%. Blue Owl Capital’s payout ratio is -1,733.33%.
Blue Owl Capital Profile
Blue Owl Capital Inc operates as an asset manager. It offers permanent capital base solutions that enables it to offer a holistic platform to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. The company provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; GP capital solutions products, which offers capital solutions, including GP minority equity investments, GP debt financing, and professional sports minority investments to large private capital managers; and real estate products that focuses on structuring sale-leaseback transactions, which includes triple net leases.
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