Cortland Associates Inc. MO Trims Position in Blue Owl Capital Inc. $OWL

Key Points

• Cortland Associates reduced its stake in Blue Owl by 32.1% in Q4, selling 645,218 shares and now holding 1,364,393 shares worth about $20.38 million (roughly 2.6% of Cortland’s portfolio).
• Major institutions including Capital World, Vanguard and Capital International have increased positions, and analysts show a consensus "Moderate Buy" with an average target of $15.97, though several firms (Goldman, Piper Sandler, Oppenheimer) recently cut their targets.
• Blue Owl trades around $9.86 with a $15.33B market cap and P/E ~98.65, and it pays a quarterly dividend that implies a 9.1% yield but carries an unusually high payout ratio of 900%.

Cortland Associates Inc. MO lessened its stake in Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 32.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,364,393 shares of the company's stock after selling 645,218 shares during the period. Blue Owl Capital accounts for about 2.6% of Cortland Associates Inc. MO's portfolio, making the stock its 15th largest position. Cortland Associates Inc. MO owned 0.09% of Blue Owl Capital worth $20,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors increased its stake in Blue Owl Capital by 1.4% in the 3rd quarter. Capital World Investors now owns 85,216,556 shares of the company's stock worth $1,442,725,000 after buying an additional 1,143,201 shares during the period. Vanguard Group Inc. increased its stake in Blue Owl Capital by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 67,916,888 shares of the company's stock worth $1,149,833,000 after buying an additional 4,968,526 shares during the period. Capital International Investors increased its stake in Blue Owl Capital by 3.5% in the 3rd quarter. Capital International Investors now owns 62,726,334 shares of the company's stock worth $1,061,999,000 after buying an additional 2,141,873 shares during the period. Bank of America Corp DE increased its stake in Blue Owl Capital by 8.4% in the 3rd quarter. Bank of America Corp DE now owns 22,563,953 shares of the company's stock worth $382,008,000 after buying an additional 1,751,024 shares during the period. Finally, Boston Partners increased its stake in Blue Owl Capital by 121.9% in the 3rd quarter. Boston Partners now owns 12,153,776 shares of the company's stock worth $205,493,000 after buying an additional 6,677,610 shares during the period. Hedge funds and other institutional investors own 35.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on OWL. The Goldman Sachs Group cut their target price on shares of Blue Owl Capital from $14.00 to $9.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th. Oppenheimer cut their target price on shares of Blue Owl Capital from $17.00 to $16.00 and set an "outperform" rating on the stock in a research report on Monday, April 13th. Piper Sandler cut their target price on shares of Blue Owl Capital from $15.00 to $12.50 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. Wolfe Research set a $20.00 target price on shares of Blue Owl Capital in a research report on Wednesday, January 7th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Blue Owl Capital in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Blue Owl Capital currently has a consensus rating of "Moderate Buy" and an average target price of $15.97.

Blue Owl Capital Stock Performance

NYSE OWL opened at $9.86 on Wednesday. The company has a market capitalization of $15.33 billion, a price-to-earnings ratio of 98.65, a price-to-earnings-growth ratio of 1.07 and a beta of 1.21. The company's 50-day simple moving average is $9.81 and its two-hundred day simple moving average is $13.36. Blue Owl Capital Inc. has a one year low of $7.95 and a one year high of $21.08.

Blue Owl Capital (NYSE:OWL - Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. Blue Owl Capital had a net margin of 2.75% and a return on equity of 20.93%. The business had revenue of $701.47 million for the quarter, compared to the consensus estimate of $712.75 million. Equities analysts expect that Blue Owl Capital Inc. will post 0.9 earnings per share for the current fiscal year.

Blue Owl Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 20th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date was Friday, February 20th. Blue Owl Capital's dividend payout ratio (DPR) is currently 900.00%.

Blue Owl Capital Company Profile

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.

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