Frank Rimerman Advisors LLC Cuts Stock Position in Blue Owl Capital Inc. (NYSE:OWL)

Frank Rimerman Advisors LLC lessened its stake in Blue Owl Capital Inc. (NYSE:OWL) by 71.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,578 shares of the company’s stock after selling 27,114 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Blue Owl Capital were worth $205,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Blue Owl Capital by 37.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,823 shares of the company’s stock valued at $1,113,000 after purchasing an additional 15,610 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in Blue Owl Capital by 20.5% in the third quarter. Lake Street Advisors Group LLC now owns 39,626 shares of the company’s stock valued at $767,000 after purchasing an additional 6,743 shares during the last quarter. Freedom Day Solutions LLC purchased a new position in Blue Owl Capital in the third quarter valued at about $1,675,000. Mount Yale Investment Advisors LLC grew its stake in Blue Owl Capital by 88.3% in the third quarter. Mount Yale Investment Advisors LLC now owns 24,461 shares of the company’s stock valued at $474,000 after purchasing an additional 11,469 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in Blue Owl Capital by 2.3% in the third quarter. Private Advisor Group LLC now owns 38,986 shares of the company’s stock valued at $755,000 after purchasing an additional 885 shares during the last quarter. Hedge funds and other institutional investors own 35.85% of the company’s stock.

Blue Owl Capital Stock Up 0.3 %

Shares of OWL opened at $23.03 on Tuesday. The company has a market capitalization of $32.91 billion, a price-to-earnings ratio of 191.92, a PEG ratio of 1.29 and a beta of 1.18. Blue Owl Capital Inc. has a 52 week low of $12.15 and a 52 week high of $24.17. The stock’s 50-day moving average price is $19.40 and its 200-day moving average price is $18.56.

Blue Owl Capital (NYSE:OWL) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $549.85 million during the quarter, compared to analysts’ expectations of $507.22 million. Blue Owl Capital had a return on equity of 19.15% and a net margin of 4.64%. During the same period last year, the business earned $0.16 earnings per share. As a group, equities analysts anticipate that Blue Owl Capital Inc. will post 0.79 EPS for the current fiscal year.

Blue Owl Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 21st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, August 21st. Blue Owl Capital’s dividend payout ratio is currently 600.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OWL. UBS Group boosted their price target on Blue Owl Capital from $20.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JMP Securities boosted their price target on Blue Owl Capital from $24.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their price target on Blue Owl Capital from $18.50 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Evercore ISI boosted their price target on Blue Owl Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Blue Owl Capital from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blue Owl Capital has a consensus rating of “Moderate Buy” and an average target price of $21.65.

About Blue Owl Capital

Blue Owl Capital Inc operates as an asset manager in the United States. The company offers permanent capital base solutions that enables it to offer holistic framework of capital solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. It also provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; liquid credit; GP strategic capital products, which offers capital solutions, including GP minority stakes, GP debt financing, and professional sports minority stakes; and real estate products that focuses on acquiring triple net lease real estate by investment grade or creditworthy tenants.