Next Capital Management LLC Invests $18.47 Million in Blue Owl Capital Inc. $OWL

Key Points

• Next Capital Management bought 1.69 million Blue Owl Capital shares worth approximately $18.47 million, making OWL its third-largest holding and representing 5% of the fund’s portfolio.
• Institutional ownership remains significant at 35.85%, with major investors including Capital World Investors, Vanguard and Capital International Investors increasing their stakes.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $13.44. Blue Owl reported quarterly EPS of $0.22 and announced a quarterly dividend of $0.23, equivalent to a 7.5% annualized yield.

Next Capital Management LLC bought a new position in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,688,690 shares of the company's stock, valued at approximately $18,473,000. Blue Owl Capital comprises 5.0% of Next Capital Management LLC's holdings, making the stock its 3rd biggest position. Next Capital Management LLC owned 0.11% of Blue Owl Capital as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. Capital World Investors boosted its holdings in Blue Owl Capital by 5.9% in the fourth quarter. Capital World Investors now owns 90,245,690 shares of the company's stock worth $1,348,272,000 after acquiring an additional 5,029,134 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Blue Owl Capital by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 68,608,868 shares of the company's stock valued at $1,025,016,000 after purchasing an additional 691,980 shares during the last quarter. Capital International Investors raised its position in shares of Blue Owl Capital by 4.3% in the 4th quarter. Capital International Investors now owns 65,402,615 shares of the company's stock valued at $977,118,000 after purchasing an additional 2,676,281 shares during the last quarter. Bank of America Corp DE boosted 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 purchasing an additional 1,751,024 shares in the last quarter. Finally, Boston Partners boosted its stake in Blue Owl Capital by 16.2% in the 4th quarter. Boston Partners now owns 14,123,877 shares of the company's stock worth $211,270,000 after purchasing an additional 1,970,101 shares in the last quarter. 35.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OWL has been the topic of a number of recent analyst reports. UBS Group restated a "neutral" rating and set a $9.50 price target on shares of Blue Owl Capital in a research note on Thursday, June 11th. Citigroup reissued a "market outperform" rating on shares of Blue Owl Capital in a report on Thursday, July 9th. Keefe, Bruyette & Woods raised Blue Owl Capital to a "hold" rating in a research report on Monday, July 20th. Barclays boosted their price target on Blue Owl Capital from $9.00 to $10.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Finally, BMO Capital Markets increased their price objective on Blue Owl Capital from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Blue Owl Capital presently has a consensus rating of "Moderate Buy" and an average target price of $13.44.

Blue Owl Capital Price Performance

NYSE:OWL opened at $12.22 on Friday. The company's fifty day moving average price is $9.86 and its 200-day moving average price is $10.13. Blue Owl Capital Inc. has a 1-year low of $7.95 and a 1-year high of $19.84. The firm has a market capitalization of $19.05 billion, a P/E ratio of 101.85, a PEG ratio of 1.41 and a beta of 1.19.

Blue Owl Capital (NYSE:OWL - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.22. The company had revenue of $693.56 million during the quarter, compared to the consensus estimate of $693.15 million. Blue Owl Capital had a net margin of 2.71% and a return on equity of 23.14%. Equities analysts anticipate that Blue Owl Capital Inc. will post 0.88 EPS for the current fiscal year.

Blue Owl Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be paid a $0.23 dividend. The ex-dividend date is Thursday, August 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.5%. Blue Owl Capital's dividend payout ratio is presently 766.67%.

About Blue Owl Capital

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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