Blue Owl Capital Inc. $OWL Stock Sold by Cortland Associates Inc. MO

Key Points

• Cortland Associates cut its Blue Owl Capital position by 65.5% in the third quarter, selling 838,799 shares and retaining 442,100 shares valued at approximately $4.02 million.
• Institutional ownership remains significant at 35.85%, with several hedge funds—including Renaissance Technologies and Estuary Capital Management—substantially increasing their holdings.
• Analysts give Blue Owl a consensus “Moderate Buy” rating with an average price target of $13.17, while the company reported quarterly earnings and revenue above estimates and declared a $0.23-per-share dividend yielding about 8.7%.

Cortland Associates Inc. MO lessened its position in Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 65.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 442,100 shares of the company's stock after selling 838,799 shares during the period. Blue Owl Capital accounts for 0.6% of Cortland Associates Inc. MO's investment portfolio, making the stock its 28th biggest position. Cortland Associates Inc. MO's holdings in Blue Owl Capital were worth $4,019,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. RDST Capital LLC boosted its holdings in shares of Blue Owl Capital by 22.1% during the first quarter. RDST Capital LLC now owns 7,648,935 shares of the company's stock worth $69,835,000 after purchasing an additional 1,383,450 shares during the period. Renaissance Technologies LLC grew its stake in shares of Blue Owl Capital by 2,107.1% in the first quarter. Renaissance Technologies LLC now owns 6,065,200 shares of the company's stock worth $55,375,000 after purchasing an additional 5,790,400 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Blue Owl Capital during the 2nd quarter valued at about $54,883,000. Estuary Capital Management LP increased its holdings in Blue Owl Capital by 338.9% during the 1st quarter. Estuary Capital Management LP now owns 4,197,297 shares of the company's stock valued at $38,321,000 after purchasing an additional 3,241,040 shares during the period. Finally, Lalia Capital LLC bought a new position in Blue Owl Capital during the 2nd quarter valued at approximately $34,952,000. Hedge funds and other institutional investors own 35.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group increased their price objective on Blue Owl Capital from $9.50 to $10.50 and gave the stock a "neutral" rating in a report on Monday. Evercore reissued an "outperform" rating and set a $12.00 target price on shares of Blue Owl Capital in a research note on Friday. Citigroup reissued a "market outperform" rating on shares of Blue Owl Capital in a research note on Thursday, September 24th. Weiss Ratings restated a "hold (c-)" rating on shares of Blue Owl Capital in a report on Monday, September 14th. Finally, HSBC set a $17.00 price target on Blue Owl Capital in a research note on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $13.17.

Blue Owl Capital Price Performance

Shares of NYSE OWL opened at $10.57 on Tuesday. Blue Owl Capital Inc. has a 1 year low of $7.95 and a 1 year high of $17.00. The stock has a market capitalization of $16.49 billion, a P/E ratio of 75.54, a P/E/G ratio of 1.18 and a beta of 1.35. The company's 50-day moving average is $10.06 and its 200 day moving average is $10.34.

Blue Owl Capital (NYSE:OWL - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $752.60 million during the quarter, compared to analyst estimates of $698.10 million. Blue Owl Capital had a net margin of 2.71% and a return on equity of 23.14%. Research analysts anticipate that Blue Owl Capital Inc. will post 0.88 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Tuesday, November 10th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 annualized dividend and a dividend yield of 8.7%. Blue Owl Capital's payout ratio is currently 657.14%.

Blue Owl Capital Company Profile

Blue Owl Capital Inc NYSE: OWL is an alternative asset manager that provides private-market investment solutions to institutional investors, financial professionals, and other clients. The company focuses on strategies designed to deliver income, long-term capital appreciation, and customized exposure to private markets.

Blue Owl operates across three primary platforms: Credit, GP Strategic Capital, and Real Estate. Its credit business provides private financing to companies, including direct lending and other asset-backed and specialty finance strategies.

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