Blue Owl Capital Inc. $OWL Stock Position Increased by Bank of Nova Scotia

Bank of Nova Scotia grew its position in Blue Owl Capital Inc. (NYSE:OWL) by 81.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 700,922 shares of the company’s stock after purchasing an additional 315,432 shares during the period. Bank of Nova Scotia’s holdings in Blue Owl Capital were worth $6,400,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Hsbc Holdings PLC increased its stake in Blue Owl Capital by 129.4% during the 4th quarter. Hsbc Holdings PLC now owns 239,674 shares of the company’s stock valued at $3,590,000 after buying an additional 135,184 shares during the period. Verity & Verity LLC lifted its stake in shares of Blue Owl Capital by 45.2% in the 4th quarter. Verity & Verity LLC now owns 1,036,594 shares of the company’s stock worth $15,487,000 after acquiring an additional 322,530 shares during the period. Wealthfront Advisers LLC boosted its holdings in shares of Blue Owl Capital by 258.8% in the first quarter. Wealthfront Advisers LLC now owns 288,826 shares of the company’s stock valued at $2,637,000 after acquiring an additional 208,331 shares in the last quarter. Diversify Wealth Management LLC increased its stake in shares of Blue Owl Capital by 86.3% during the first quarter. Diversify Wealth Management LLC now owns 456,458 shares of the company’s stock valued at $4,053,000 after acquiring an additional 211,419 shares during the period. Finally, Danica Pension Livsforsikringsaktieselskab raised its holdings in Blue Owl Capital by 7.8% during the fourth quarter. Danica Pension Livsforsikringsaktieselskab now owns 4,149,597 shares of the company’s stock worth $61,995,000 after purchasing an additional 300,000 shares in the last quarter. Institutional investors own 35.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group reaffirmed a “neutral” rating and set a $9.50 price target on shares of Blue Owl Capital in a research note on Thursday, June 11th. Citigroup reaffirmed a “market outperform” rating on shares of Blue Owl Capital in a report on Thursday, July 9th. BMO Capital Markets dropped their price target on shares of Blue Owl Capital from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Zacks Research raised shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Credit Suisse Group set a $9.10 price objective on shares of Blue Owl Capital in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.16.

Blue Owl Capital Price Performance

OWL stock opened at $9.67 on Tuesday. The firm has a market capitalization of $15.04 billion, a P/E ratio of 80.61, a P/E/G ratio of 1.02 and a beta of 1.22. Blue Owl Capital Inc. has a 52-week low of $7.95 and a 52-week high of $20.58. The company’s 50 day simple moving average is $9.49 and its 200-day simple moving average is $10.51.

Blue Owl Capital (NYSE:OWL) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $699.88 million for the quarter, compared to analysts’ expectations of $687.23 million. Blue Owl Capital had a net margin of 2.96% and a return on equity of 21.97%. Sell-side analysts predict that Blue Owl Capital Inc. will post 0.87 EPS for the current fiscal year.

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.