Renaissance Technologies LLC Lowers Position in Blue Owl Capital Inc. (NYSE:OWL)

Renaissance Technologies LLC lessened its stake in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 57.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 252,400 shares of the company's stock after selling 339,200 shares during the period. Renaissance Technologies LLC's holdings in Blue Owl Capital were worth $5,871,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. purchased a new stake in Blue Owl Capital during the 4th quarter valued at about $27,000. Allworth Financial LP grew its position in Blue Owl Capital by 43.3% during the 4th quarter. Allworth Financial LP now owns 1,416 shares of the company's stock worth $36,000 after purchasing an additional 428 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Blue Owl Capital by 232.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,880 shares of the company's stock valued at $44,000 after buying an additional 1,315 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Blue Owl Capital by 136.2% in the 4th quarter. Versant Capital Management Inc now owns 1,925 shares of the company's stock valued at $45,000 after buying an additional 1,110 shares during the period. Finally, Principal Securities Inc. boosted its stake in shares of Blue Owl Capital by 30.6% in the fourth quarter. Principal Securities Inc. now owns 1,921 shares of the company's stock worth $45,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds own 35.85% of the company's stock.

Wall Street Analyst Weigh In

OWL has been the subject of a number of analyst reports. The Goldman Sachs Group downgraded Blue Owl Capital from a "buy" rating to a "neutral" rating and decreased their price target for the company from $25.00 to $24.75 in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on shares of Blue Owl Capital from $22.00 to $19.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Barclays cut their price target on Blue Owl Capital from $29.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. JMP Securities dropped their price objective on Blue Owl Capital from $32.00 to $28.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th. Finally, Cfra Research upgraded Blue Owl Capital to a "moderate buy" rating in a research report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $23.79.

Blue Owl Capital Price Performance

Shares of NYSE:OWL traded up $0.73 during midday trading on Thursday, hitting $18.40. The company had a trading volume of 2,454,068 shares, compared to its average volume of 6,658,597. Blue Owl Capital Inc. has a twelve month low of $14.55 and a twelve month high of $26.73. The stock has a market cap of $28.29 billion, a price-to-earnings ratio of 108.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.20. The business's 50-day simple moving average is $19.56 and its 200-day simple moving average is $22.13.

Blue Owl Capital (NYSE:OWL - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.21. Blue Owl Capital had a return on equity of 20.82% and a net margin of 4.77%. As a group, sell-side analysts forecast that Blue Owl Capital Inc. will post 0.92 EPS for the current year.

Blue Owl Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 19th were issued a $0.18 dividend. The ex-dividend date was Wednesday, February 19th. This represents a $0.72 annualized dividend and a yield of 3.91%. Blue Owl Capital's payout ratio is 423.53%.

Blue Owl Capital Company Profile

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.