Miracle Mile Advisors LLC Invests $227,000 in Blue Owl Capital Inc. (NYSE:OWL)

Miracle Mile Advisors LLC bought a new stake in Blue Owl Capital Inc. (NYSE:OWL) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,015 shares of the company’s stock, valued at approximately $227,000.

A number of other large investors have also modified their holdings of OWL. Capital International Investors grew its position in 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 acquiring an additional 3,565,657 shares during the period. Balyasny Asset Management L.P. bought a new position in Blue Owl Capital during the 4th quarter valued at about $46,030,000. Vanguard Group Inc. boosted its position in Blue Owl Capital by 3.3% in the third quarter. Vanguard Group Inc. now owns 40,199,339 shares of the company’s stock valued at $520,983,000 after buying an additional 1,293,941 shares in the last quarter. Franklin Resources Inc. grew its stake in Blue Owl Capital by 159.5% during the fourth quarter. Franklin Resources Inc. now owns 1,865,492 shares of the company’s stock worth $27,796,000 after buying an additional 1,146,734 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Blue Owl Capital during the first quarter worth approximately $20,620,000. 35.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on OWL shares. UBS Group upgraded Blue Owl Capital from a “neutral” rating to a “buy” rating and increased their price target for the stock from $18.00 to $22.00 in a research report on Tuesday, April 2nd. Evercore ISI raised their target price on Blue Owl Capital from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Citigroup reiterated a “buy” rating and set a $21.00 price target on shares of Blue Owl Capital in a research report on Tuesday, May 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.50 target price on shares of Blue Owl Capital in a research note on Thursday, June 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $24.00 target price on shares of Blue Owl Capital in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.27.

Blue Owl Capital Stock Performance

OWL opened at $17.53 on Wednesday. The company has a fifty day moving average price of $18.19 and a two-hundred day moving average price of $17.36. The firm has a market capitalization of $25.05 billion, a PE ratio of 146.08, a P/E/G ratio of 1.08 and a beta of 1.18. Blue Owl Capital Inc. has a 52 week low of $10.64 and a 52 week high of $19.87.

Blue Owl Capital (NYSE:OWL) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Blue Owl Capital had a return on equity of 18.15% and a net margin of 3.84%. The business had revenue of $486.55 million during the quarter, compared to analysts’ expectations of $478.47 million. Equities analysts forecast that Blue Owl Capital Inc. will post 0.82 EPS for the current year.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, May 21st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.11%. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, May 20th. Blue Owl Capital’s dividend payout ratio (DPR) is currently 600.00%.

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.