Cobalt Capital Management Inc. Takes Position in Blue Owl Capital Inc. $OWL

Cobalt Capital Management Inc. acquired a new stake in shares of Blue Owl Capital Inc. (NYSE:OWL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 700,085 shares of the company’s stock, valued at approximately $10,459,000. Blue Owl Capital comprises about 4.6% of Cobalt Capital Management Inc.’s portfolio, making the stock its 8th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of OWL. Royal Bank of Canada raised its stake in shares of Blue Owl Capital by 50.0% during the first quarter. Royal Bank of Canada now owns 397,990 shares of the company’s stock valued at $7,976,000 after acquiring an additional 132,637 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Blue Owl Capital by 4.0% during the second quarter. Russell Investments Group Ltd. now owns 44,215 shares of the company’s stock valued at $849,000 after acquiring an additional 1,703 shares during the last quarter. Jump Financial LLC bought a new position in shares of Blue Owl Capital during the second quarter valued at about $238,000. California Public Employees Retirement System raised its stake in Blue Owl Capital by 28.2% in the second quarter. California Public Employees Retirement System now owns 787,255 shares of the company’s stock worth $15,123,000 after buying an additional 172,982 shares in the last quarter. Finally, State Street Corp lifted its holdings in Blue Owl Capital by 10.6% in the second quarter. State Street Corp now owns 9,880,565 shares of the company’s stock worth $189,806,000 after buying an additional 950,700 shares during the period. 35.85% of the stock is owned by institutional investors.

Blue Owl Capital Stock Performance

Shares of NYSE OWL opened at $9.48 on Thursday. Blue Owl Capital Inc. has a fifty-two week low of $7.95 and a fifty-two week high of $21.08. The company has a 50 day simple moving average of $9.66 and a two-hundred day simple moving average of $11.77. The company has a market capitalization of $14.73 billion, a price-to-earnings ratio of 78.97, a P/E/G ratio of 1.04 and a beta of 1.20.

Blue Owl Capital (NYSE:OWL) last announced its earnings results on Thursday, April 30th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Blue Owl Capital had a net margin of 2.96% and a return on equity of 21.97%. The business had revenue of $699.88 million during the quarter, compared to the consensus estimate of $687.23 million. On average, analysts forecast that Blue Owl Capital Inc. will post 0.88 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.23 per share. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.23. This represents a $0.92 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date of this dividend was Wednesday, May 13th. Blue Owl Capital’s payout ratio is 766.67%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Blue Owl Capital from $19.00 to $10.50 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Barclays raised their target price on Blue Owl Capital from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. The Goldman Sachs Group dropped their price target on Blue Owl Capital from $14.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. BMO Capital Markets dropped their price target on Blue Owl Capital from $15.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. Finally, UBS Group restated a “neutral” rating and set a $9.50 target price on shares of Blue Owl Capital in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.04.

Blue Owl Capital Profile

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.