Renaissance Technologies LLC Cuts Holdings in Blue Owl Capital Inc. (NYSE:OWL)

Renaissance Technologies LLC lessened its stake in Blue Owl Capital Inc. (NYSE:OWL) by 23.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,608,200 shares of the company’s stock after selling 500,500 shares during the period. Renaissance Technologies LLC owned approximately 0.11% of Blue Owl Capital worth $28,546,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in Blue Owl Capital in the 1st quarter worth approximately $26,000. ORG Partners LLC purchased a new position in Blue Owl Capital in the 2nd quarter worth approximately $32,000. Family Firm Inc. purchased a new position in Blue Owl Capital in the 2nd quarter worth approximately $40,000. Rothschild Investment LLC purchased a new position in Blue Owl Capital in the 2nd quarter worth approximately $45,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Blue Owl Capital in the 2nd quarter valued at $88,000. Hedge funds and other institutional investors own 35.85% of the company’s stock.

Blue Owl Capital Stock Up 3.7 %

Shares of OWL opened at $18.84 on Friday. The stock has a market capitalization of $26.92 billion, a P/E ratio of 156.92, a PEG ratio of 1.07 and a beta of 1.17. The firm has a fifty day simple moving average of $17.73 and a two-hundred day simple moving average of $18.03. Blue Owl Capital Inc. has a twelve month low of $12.11 and a twelve month high of $20.13.

Blue Owl Capital (NYSE:OWL) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Blue Owl Capital had a net margin of 4.64% and a return on equity of 19.15%. The business had revenue of $549.85 million during the quarter, compared to analysts’ expectations of $507.22 million. During the same quarter in the prior year, the company posted $0.16 EPS. Sell-side analysts expect that Blue Owl Capital Inc. will post 0.79 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Wednesday, August 21st were issued a $0.18 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.72 annualized dividend and a yield of 3.82%. Blue Owl Capital’s dividend payout ratio (DPR) is presently 600.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OWL shares. TD Cowen reaffirmed a “hold” rating and issued a $19.00 price objective (down previously from $21.50) on shares of Blue Owl Capital in a research note on Monday, July 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.50 price objective on shares of Blue Owl Capital in a research note on Thursday, June 13th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Blue Owl Capital from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Piper Sandler cut their price objective on shares of Blue Owl Capital from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Finally, UBS Group cut their price objective on shares of Blue Owl Capital from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.10.

Blue Owl Capital 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.