Traders Purchase Large Volume of Put Options on Blue Owl Capital (NYSE:OWL)

Blue Owl Capital Inc. (NYSE:OWL) was the recipient of some unusual options trading on Monday. Stock investors acquired 64,863 put options on the company. This represents an increase of approximately 36% compared to the average daily volume of 47,638 put options.

Analysts Set New Price Targets

OWL has been the topic of a number of research analyst reports. UBS Group reduced their target price on Blue Owl Capital from $16.50 to $12.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Zacks Research downgraded Blue Owl Capital from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Wolfe Research set a $20.00 target price on Blue Owl Capital in a report on Wednesday, January 7th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Blue Owl Capital in a report on Thursday, February 19th. Finally, BMO Capital Markets reduced their target price on Blue Owl Capital from $15.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Blue Owl Capital currently has an average rating of “Moderate Buy” and a consensus target price of $15.97.

Blue Owl Capital Stock Up 2.6%

NYSE:OWL opened at $8.45 on Tuesday. The business’s 50 day moving average is $10.12 and its two-hundred day moving average is $13.66. Blue Owl Capital has a 52 week low of $7.95 and a 52 week high of $21.08. The company has a market cap of $13.13 billion, a PE ratio of 84.46, a P/E/G ratio of 0.89 and a beta of 1.21.

Blue Owl Capital (NYSE:OWL) last announced its quarterly 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 business had revenue of $701.47 million for the quarter, compared to the consensus estimate of $712.75 million. Blue Owl Capital had a return on equity of 20.93% and a net margin of 2.75%. As a group, sell-side analysts expect that Blue Owl Capital will post 0.92 EPS for the current fiscal year.

Blue Owl Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 20th were issued a $0.225 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $0.90 annualized dividend and a dividend yield of 10.7%. Blue Owl Capital’s dividend payout ratio (DPR) is 900.00%.

Institutional Trading of Blue Owl Capital

Hedge funds have recently made changes to their positions in the stock. Cresset Asset Management LLC lifted its holdings in shares of Blue Owl Capital by 1,345.0% in the 3rd quarter. Cresset Asset Management LLC now owns 1,379,485 shares of the company’s stock worth $23,355,000 after purchasing an additional 1,284,021 shares during the last quarter. JPMorgan Chase & Co. increased its position in Blue Owl Capital by 16.8% in the 3rd 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 period. Capital International Investors increased its position in Blue Owl Capital by 3.5% in the 3rd quarter. Capital International Investors now owns 62,726,334 shares of the company’s stock valued at $1,061,999,000 after acquiring an additional 2,141,873 shares during the period. Elevation Point Wealth Partners LLC increased its position in Blue Owl Capital by 5,256.9% in the 3rd quarter. Elevation Point Wealth Partners LLC now owns 374,236 shares of the company’s stock valued at $6,336,000 after acquiring an additional 367,250 shares during the period. Finally, Partners Group Holding AG increased its position in Blue Owl Capital by 8.3% in the 3rd quarter. Partners Group Holding AG now owns 1,940,155 shares of the company’s stock valued at $32,847,000 after acquiring an additional 149,292 shares during the period. Institutional investors own 35.85% of the company’s stock.

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.