Concorde Asset Management LLC Invests $596,000 in Blue Owl Capital Inc. $OWL

Concorde Asset Management LLC purchased a new position in shares of Blue Owl Capital Inc. (NYSE:OWL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 68,100 shares of the company’s stock, valued at approximately $596,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in OWL. Arax Advisory Partners acquired a new position in Blue Owl Capital in the 4th quarter valued at $25,000. Toronto Dominion Bank acquired a new stake in Blue Owl Capital during the fourth quarter worth about $26,000. Burk Holdings LLC acquired a new stake in Blue Owl Capital during the second quarter worth about $27,000. Lavaca Capital LLC bought a new position in Blue Owl Capital in the 4th quarter valued at about $28,000. Finally, Essential Partners LLC increased its holdings in Blue Owl Capital by 739.7% in the 1st quarter. Essential Partners LLC now owns 3,216 shares of the company’s stock valued at $29,000 after buying an additional 2,833 shares during the period. Institutional investors and hedge funds own 35.85% of the company’s stock.

Wall Street Analysts Forecast Growth

OWL has been the topic of several analyst reports. Capital One Financial set a $12.00 price target on shares of Blue Owl Capital in a research report on Monday, August 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Blue Owl Capital in a research report on Thursday, June 18th. Oppenheimer lifted their target price on Blue Owl Capital from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Barclays upped their price target on shares of Blue Owl Capital from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.57.

Blue Owl Capital Trading Down 4.5%

NYSE OWL opened at $11.22 on Wednesday. The firm has a market capitalization of $17.49 billion, a PE ratio of 93.52, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The business’s 50-day moving average price is $10.72 and its two-hundred day moving average price is $9.97. Blue Owl Capital Inc. has a 12 month low of $7.95 and a 12 month high of $19.29.

Blue Owl Capital (NYSE:OWL) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. Blue Owl Capital had a return on equity of 23.14% and a net margin of 2.71%.The company had revenue of $693.56 million for the quarter, compared to analyst estimates of $693.15 million. As a group, analysts forecast that Blue Owl Capital Inc. will post 0.88 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend was Thursday, August 13th. Blue Owl Capital’s dividend payout ratio is currently 766.67%.

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.