Princeton Global Asset Management LLC Reduces Stock Holdings in Blue Owl Capital Inc. $OWL

Key Points

• Princeton Global Asset Management LLC significantly reduced its holdings in Blue Owl Capital, selling 74,341 shares and lowering its stake by 90.1% in the second quarter, now owning only 8,212 shares valued at $158,000.
• Multiple institutional investors have increased their positions in Blue Owl Capital, with Vanguard Group acquiring an additional 7.2 million shares and increasing its stake by 13.5%.
• Analysts have adjusted their price targets for Blue Owl Capital, with Oppenheimer lowering its target from $25.00 to $24.00 while maintaining an "outperform" rating.

Princeton Global Asset Management LLC lowered its stake in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 90.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,212 shares of the company's stock after selling 74,341 shares during the period. Princeton Global Asset Management LLC's holdings in Blue Owl Capital were worth $158,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OWL. Vanguard Group Inc. lifted its position in shares of Blue Owl Capital by 13.5% during the first quarter. Vanguard Group Inc. now owns 60,412,887 shares of the company's stock worth $1,210,674,000 after acquiring an additional 7,206,495 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in shares of Blue Owl Capital by 167.1% during the first quarter. Ceredex Value Advisors LLC now owns 3,259,655 shares of the company's stock worth $65,323,000 after acquiring an additional 2,039,355 shares in the last quarter. Select Equity Group L.P. purchased a new stake in shares of Blue Owl Capital during the first quarter worth $38,810,000. HMI Capital Management L.P. purchased a new stake in shares of Blue Owl Capital during the first quarter worth $30,343,000. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Blue Owl Capital by 513.1% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,576,490 shares of the company's stock worth $30,284,000 after acquiring an additional 1,319,350 shares in the last quarter. Hedge funds and other institutional investors own 35.85% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on OWL shares. Oppenheimer dropped their target price on Blue Owl Capital from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 14th. Barclays dropped their target price on Blue Owl Capital from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Blue Owl Capital in a report on Wednesday, October 8th. The Goldman Sachs Group decreased their price target on shares of Blue Owl Capital from $21.50 to $19.00 and set a "neutral" rating on the stock in a report on Monday, October 6th. Finally, Cowen reaffirmed a "buy" rating on shares of Blue Owl Capital in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Blue Owl Capital currently has an average rating of "Moderate Buy" and an average price target of $22.38.

Blue Owl Capital Stock Up 3.1%

NYSE OWL opened at $16.69 on Tuesday. The stock's 50-day simple moving average is $17.89 and its two-hundred day simple moving average is $18.48. Blue Owl Capital Inc. has a twelve month low of $14.55 and a twelve month high of $26.73. The company has a market capitalization of $25.85 billion, a price-to-earnings ratio of 185.42, a PEG ratio of 1.16 and a beta of 1.13.

Blue Owl Capital (NYSE:OWL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, meeting analysts' consensus estimates of $0.21. Blue Owl Capital had a return on equity of 19.64% and a net margin of 2.88%.The business had revenue of $703.11 million for the quarter, compared to the consensus estimate of $642.13 million. On average, equities analysts expect that Blue Owl Capital Inc. will post 0.92 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 Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.225 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.90 dividend on an annualized basis and a yield of 5.4%. Blue Owl Capital's dividend payout ratio (DPR) is presently 1,000.00%.

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.

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