Owlet, Inc. $OWLT Shares Sold by Corsair Capital Management L.P.

Corsair Capital Management L.P. reduced its stake in Owlet, Inc. (NYSE:OWLT) by 24.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 438,349 shares of the company’s stock after selling 139,080 shares during the period. Owlet accounts for about 0.7% of Corsair Capital Management L.P.’s holdings, making the stock its 18th biggest position. Corsair Capital Management L.P. owned 2.57% of Owlet worth $3,682,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in shares of Owlet during the 2nd quarter worth approximately $90,000. Goldman Sachs Group Inc. acquired a new stake in Owlet during the 1st quarter worth $43,000. Virtu Financial LLC purchased a new stake in Owlet in the first quarter valued at $95,000. Finally, Harbor Capital Advisors Inc. lifted its position in Owlet by 70.0% in the second quarter. Harbor Capital Advisors Inc. now owns 402,260 shares of the company’s stock valued at $3,379,000 after acquiring an additional 165,657 shares during the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.

Owlet Stock Up 1.9%

NYSE OWLT opened at $13.21 on Friday. The firm has a market cap of $225.49 million, a P/E ratio of -4.48 and a beta of 1.83. Owlet, Inc. has a 52-week low of $2.75 and a 52-week high of $13.39. The business’s 50-day moving average price is $9.56 and its 200 day moving average price is $8.01.

Owlet (NYSE:OWLT) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.26. Owlet had a negative return on equity of 0.36% and a negative net margin of 39.32%.The firm had revenue of $31.99 million during the quarter, compared to the consensus estimate of $26.00 million. Owlet has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Owlet, Inc. will post -0.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OWLT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Owlet in a report on Wednesday, October 8th. Northland Securities set a $15.50 price target on Owlet in a research note on Friday, November 14th. Zacks Research raised Owlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Finally, Wall Street Zen raised Owlet from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Owlet has a consensus rating of “Buy” and a consensus target price of $12.00.

Owlet Profile

Owlet, Inc provides digital parenting solutions in the United States and internationally. The company's platform focuses on giving real-time data and insights to parents. It offers Dream Sock, a wearable infant health monitor equipped with pulse oximetry technology to track vitals signs, such as pulse rate, oxygen, activity, and sleep patterns; BabySat which is intended for infants with heightened health risk; Owlet Cam, a monitoring device in smartphones that offers video and audio, predictive sleep insights, and cry detections; and accessories, including Owlet Sleeper, as well as Duo and Dream Duo that combines Smart Sock with the Owlet Cam.