Blue Owl Capital Inc. (NYSE:OWL) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its position in Blue Owl Capital Inc. (NYSE:OWL) by 90.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 255,126 shares of the company’s stock after selling 2,506,547 shares during the quarter. Millennium Management LLC’s holdings in Blue Owl Capital were worth $4,528,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of OWL. Capital World Investors grew its position in shares of Blue Owl Capital by 0.3% during the first quarter. Capital World Investors now owns 63,339,128 shares of the company’s stock worth $1,194,576,000 after buying an additional 163,377 shares in the last quarter. Vanguard Group Inc. lifted its stake in Blue Owl Capital by 0.6% in the first quarter. Vanguard Group Inc. now owns 40,731,640 shares of the company’s stock valued at $768,199,000 after buying an additional 250,977 shares during the last quarter. Capital International Investors lifted its stake in Blue Owl Capital by 0.3% in the first quarter. Capital International Investors now owns 33,284,962 shares of the company’s stock valued at $627,754,000 after buying an additional 107,321 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Blue Owl Capital by 11.9% during the first quarter. Capital Research Global Investors now owns 10,512,628 shares of the company’s stock worth $198,268,000 after purchasing an additional 1,121,064 shares during the last quarter. Finally, Stone Point Capital LLC purchased a new stake in shares of Blue Owl Capital during the second quarter worth approximately $112,749,000. 35.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OWL shares. JMP Securities upped their price target on Blue Owl Capital from $24.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Piper Sandler upped their target price on Blue Owl Capital from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday. TD Cowen restated a “hold” rating and issued a $19.00 price objective (down from $21.50) on shares of Blue Owl Capital in a research report on Monday, July 8th. Oppenheimer upgraded Blue Owl Capital from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Friday, August 2nd. Finally, Wells Fargo & Company increased their target price on Blue Owl Capital from $18.50 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.90.

Blue Owl Capital Stock Performance

OWL stock opened at $21.40 on Friday. Blue Owl Capital Inc. has a 1 year low of $12.11 and a 1 year high of $21.56. The firm has a market cap of $31.32 billion, a P/E ratio of 133.76, a price-to-earnings-growth ratio of 1.29 and a beta of 1.18. The stock has a 50-day simple moving average of $18.11 and a 200-day simple moving average of $18.26.

Blue Owl Capital (NYSE:OWL) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Blue Owl Capital had a return on equity of 19.15% and a net margin of 4.64%. The firm had revenue of $549.85 million during the quarter, compared to analyst estimates of $507.22 million. During the same quarter last year, the firm earned $0.16 EPS. On average, equities research analysts predict that Blue Owl Capital Inc. will post 0.79 EPS for the current year.

Blue Owl Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.72 dividend on an annualized basis and a yield of 3.36%. Blue Owl Capital’s dividend payout ratio (DPR) is presently 450.03%.

About Blue Owl Capital

Blue Owl Capital Inc operates as an asset manager in the United States. The company offers permanent capital base solutions that enables it to offer holistic framework of capital solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. It also provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; liquid credit; GP strategic capital products, which offers capital solutions, including GP minority stakes, GP debt financing, and professional sports minority stakes; and real estate products that focuses on acquiring triple net lease real estate by investment grade or creditworthy tenants.