Zacks Investment Research Downgrades Blue Owl Capital (NYSE:OWL) to Sell

Blue Owl Capital (NYSE:OWL – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Blue Owl Capital is an alternative asset manager which provides investors access to direct lending and GP capital solutions strategies through a variety of vehicles. Blue Owl Capital, formerly known as Altimar Acquisition Corporation, is based in NEW YORK. “

Several other research firms also recently issued reports on OWL. Bank of America started coverage on shares of Blue Owl Capital in a research note on Monday, January 24th. They set a “buy” rating and a $18.00 price target for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $21.00 price target on shares of Blue Owl Capital in a research note on Tuesday, January 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $16.86.

NYSE OWL opened at $13.53 on Friday. The firm’s 50 day simple moving average is $12.69 and its 200 day simple moving average is $14.14. Blue Owl Capital has a 1 year low of $9.35 and a 1 year high of $17.89.

Blue Owl Capital (NYSE:OWL – Get Rating) last issued its earnings results on Thursday, February 17th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $288.52 million during the quarter, compared to analyst estimates of $247.20 million. Equities analysts expect that Blue Owl Capital will post 0.58 EPS for the current year.

In other news, Director Claudia A. Holz bought 10,000 shares of the stock in a transaction that occurred on Wednesday, March 9th. The stock was acquired at an average price of $12.24 per share, with a total value of $122,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. bought a new stake in Blue Owl Capital during the 4th quarter worth approximately $30,000. Steph & Co. purchased a new position in Blue Owl Capital in the 1st quarter worth approximately $61,000. Deutsche Bank AG purchased a new position in Blue Owl Capital in the 4th quarter worth approximately $75,000. Advisor Group Holdings Inc. grew its stake in Blue Owl Capital by 298.1% in the 3rd quarter. Advisor Group Holdings Inc. now owns 5,342 shares of the company’s stock worth $83,000 after buying an additional 4,000 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its stake in Blue Owl Capital by 17.9% in the 4th quarter. Wolverine Asset Management LLC now owns 8,928 shares of the company’s stock worth $133,000 after buying an additional 1,355 shares in the last quarter. Institutional investors and hedge funds own 24.51% of the company’s stock.

About Blue Owl Capital (Get Rating)

Blue Owl Capital Inc operates as an asset manager. It offers permanent capital base solutions that enables it to offer a holistic platform to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. The company provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; GP capital solutions products, which offers capital solutions, including GP minority equity investments, GP debt financing, and professional sports minority investments to large private capital managers; and real estate products that focuses on structuring sale-leaseback transactions, which includes triple net leases.

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