Oppenheimer Lowers Blue Owl Capital (NYSE:OWL) Price Target to $15.00

Key Points

• Oppenheimer cut its price target on Blue Owl Capital from $16 to $15 but kept an outperform rating, implying roughly 59.8% upside from the prior close.
• Blue Owl Capital has seen mixed analyst sentiment, with several firms lowering targets recently; MarketBeat shows an average rating of Moderate Buy and an average price target of $13.16.
• The stock closed at $9.38, below its 50-day average of $9.56 and 200-day average of $10.80, after the company reported quarterly earnings that met EPS estimates and beat revenue expectations.

Blue Owl Capital (NYSE:OWL - Get Free Report) had its target price cut by investment analysts at Oppenheimer from $16.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's target price would suggest a potential upside of 59.83% from the company's previous close.

OWL has been the topic of a number of other reports. BMO Capital Markets dropped their price target on shares of Blue Owl Capital from $12.00 to $11.00 and set an "outperform" rating on the stock in a research note on Monday. TD Cowen restated a "buy" rating and issued a $14.00 target price on shares of Blue Owl Capital in a research note on Monday, May 18th. Citizens Jmp dropped their target price on Blue Owl Capital from $21.00 to $17.00 and set a "market outperform" rating on the stock in a research report on Thursday, July 9th. Credit Suisse Group set a $9.10 price target on Blue Owl Capital in a research note on Thursday, July 2nd. Finally, The Goldman Sachs Group reduced their price target on Blue Owl Capital from $14.00 to $9.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $13.16.

Blue Owl Capital Stock Performance

Shares of OWL stock traded down $0.23 during trading on Friday, hitting $9.38. 4,336,224 shares of the company were exchanged, compared to its average volume of 27,206,469. The business's 50-day simple moving average is $9.56 and its 200 day simple moving average is $10.80. Blue Owl Capital has a twelve month low of $7.95 and a twelve month high of $20.99. The firm has a market capitalization of $14.59 billion, a price-to-earnings ratio of 78.38, a P/E/G ratio of 1.05 and a beta of 1.22.

Blue Owl Capital (NYSE:OWL - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $699.88 million for the quarter, compared to analyst estimates of $687.23 million. Blue Owl Capital had a net margin of 2.96% and a return on equity of 21.97%. On average, equities analysts forecast that Blue Owl Capital will post 0.87 earnings per share for the current fiscal year.

Institutional Trading of Blue Owl Capital

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Blue Owl Capital during the 4th quarter valued at about $140,643,000. William Blair Investment Management LLC bought a new stake in Blue Owl Capital during the fourth quarter worth approximately $113,782,000. Boston Partners boosted its position in Blue Owl Capital by 121.9% during the third quarter. Boston Partners now owns 12,153,776 shares of the company's stock worth $205,493,000 after purchasing an additional 6,677,610 shares during the period. Renaissance Technologies LLC grew its holdings in Blue Owl Capital by 2,107.1% during the first quarter. Renaissance Technologies LLC now owns 6,065,200 shares of the company's stock valued at $55,375,000 after purchasing an additional 5,790,400 shares during the last quarter. Finally, Capital World Investors grew its holdings in Blue Owl Capital by 5.9% during the fourth quarter. Capital World Investors now owns 90,245,690 shares of the company's stock valued at $1,348,272,000 after purchasing an additional 5,029,134 shares during the last quarter. Institutional investors and hedge funds own 35.85% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.