Westfield Capital Management Co. LP Sells 924,016 Shares of Blue Owl Capital Inc. $OWL

Westfield Capital Management Co. LP lowered its position in shares of Blue Owl Capital Inc. (NYSE:OWL) by 17.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,228,444 shares of the company’s stock after selling 924,016 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Blue Owl Capital were worth $71,588,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OWL. Vanguard Group Inc. raised its holdings in shares of Blue Owl Capital by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 67,916,888 shares of the company’s stock valued at $1,149,833,000 after buying an additional 4,968,526 shares in the last quarter. JPMorgan Chase & Co. grew its position in Blue Owl Capital by 16.8% during the third quarter. JPMorgan Chase & Co. now owns 11,572,226 shares of the company’s stock valued at $195,920,000 after acquiring an additional 1,667,608 shares during the last quarter. Geode Capital Management LLC grew its position in Blue Owl Capital by 14.6% during the second quarter. Geode Capital Management LLC now owns 10,293,279 shares of the company’s stock valued at $197,766,000 after acquiring an additional 1,313,108 shares during the last quarter. State Street Corp raised its stake in shares of Blue Owl Capital by 10.6% during the second quarter. State Street Corp now owns 9,880,565 shares of the company’s stock worth $189,806,000 after acquiring an additional 950,700 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Blue Owl Capital in the 2nd quarter worth approximately $183,294,000. 35.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Alan Kirshenbaum acquired 33,670 shares of Blue Owl Capital stock in a transaction on Monday, December 1st. The shares were acquired at an average cost of $14.87 per share, with a total value of $500,672.90. Following the transaction, the chief financial officer owned 33,670 shares in the company, valued at $500,672.90. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Craig Packer acquired 110,227 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was bought at an average price of $15.06 per share, with a total value of $1,660,018.62. Following the completion of the acquisition, the insider directly owned 94,000 shares in the company, valued at approximately $1,415,640. This represents a -679.28% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 395,670 shares of company stock valued at $5,952,393 over the last three months. 27.20% of the stock is currently owned by corporate insiders.

Blue Owl Capital Trading Up 5.7%

OWL stock opened at $11.34 on Thursday. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of 113.44, a PEG ratio of 0.86 and a beta of 1.11. The firm’s 50-day moving average price is $14.13 and its two-hundred day moving average price is $15.88. Blue Owl Capital Inc. has a 12-month low of $10.08 and a 12-month high of $22.25.

Blue Owl Capital (NYSE:OWL) last posted its earnings results on Thursday, February 5th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. The company had revenue of $701.47 million for the quarter, compared to analysts’ expectations of $712.75 million. Blue Owl Capital had a return on equity of 20.93% and a net margin of 2.75%. Equities analysts predict that Blue Owl Capital Inc. will post 0.92 EPS for the current year.

Blue Owl Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 20th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.90 annualized dividend and a dividend yield of 7.9%. Blue Owl Capital’s payout ratio is 900.00%.

Analyst Ratings Changes

OWL has been the topic of several recent research reports. UBS Group reduced their target price on shares of Blue Owl Capital from $16.50 to $12.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Oppenheimer cut their price target on shares of Blue Owl Capital from $27.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. TD Cowen reiterated a “buy” rating on shares of Blue Owl Capital in a report on Wednesday, January 14th. The Goldman Sachs Group lowered their target price on Blue Owl Capital from $16.25 to $14.00 and set a “neutral” rating for the company in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. raised their price target on Blue Owl Capital from $21.50 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.69.

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.