Blue Owl Capital (NYSE:OWL) Sees Unusually-High Trading Volume Following Dividend Announcement

Blue Owl Capital Inc. (NYSE:OWL) saw an uptick in trading volume on Thursday following a dividend announcement from the company. 14,686,530 shares were traded during trading, an increase of 180% from the previous session’s volume of 5,244,983 shares.The stock last traded at $17.05 and had previously closed at $19.07.

The newly announced dividend which will be paid on Friday, August 30th. Shareholders of record on Wednesday, August 21st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Wednesday, August 21st. Blue Owl Capital’s payout ratio is 600.00%.

Wall Street Analyst Weigh In

OWL has been the topic of several research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.50 target price on shares of Blue Owl Capital in a report on Thursday, June 13th. UBS Group cut their price objective on Blue Owl Capital from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. JMP Securities reissued a “market outperform” rating and issued a $24.00 target price on shares of Blue Owl Capital in a report on Tuesday, April 9th. Oppenheimer upgraded Blue Owl Capital from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Friday. Finally, Citigroup reiterated a “buy” rating and issued a $21.00 price objective on shares of Blue Owl Capital in a research note on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Blue Owl Capital has a consensus rating of “Moderate Buy” and a consensus target price of $20.23.

Blue Owl Capital Stock Down 5.4 %

The business’s fifty day moving average is $18.04 and its two-hundred day moving average is $17.89. The stock has a market capitalization of $23.23 billion, a PE ratio of 135.50, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18.

Blue Owl Capital (NYSE:OWL) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $549.85 million for the quarter, compared to analysts’ expectations of $507.22 million. Blue Owl Capital had a return on equity of 19.12% and a net margin of 4.64%. During the same period in the previous year, the firm posted $0.16 earnings per share. Sell-side analysts expect that Blue Owl Capital Inc. will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OWL. Kinetic Partners Management LP purchased a new stake in Blue Owl Capital in the 1st quarter valued at about $69,600,000. Capital International Investors boosted its holdings in shares of Blue Owl Capital by 12.0% in the fourth quarter. Capital International Investors now owns 33,177,641 shares of the company’s stock valued at $494,347,000 after purchasing an additional 3,565,657 shares during the period. State of New Jersey Common Pension Fund A bought a new position in Blue Owl Capital in the second quarter worth approximately $63,115,000. Balyasny Asset Management L.P. purchased a new position in Blue Owl Capital during the 4th quarter worth $46,030,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Blue Owl Capital during the 1st quarter worth $48,517,000. Hedge funds and other institutional investors own 35.85% of the company’s stock.

Blue Owl Capital Company Profile

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.