Transcend Capital Advisors LLC Sells 11,795 Shares of Blue Owl Capital Inc. (NYSE:OWL)

Transcend Capital Advisors LLC cut its holdings in shares of Blue Owl Capital Inc. (NYSE:OWL) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,659,029 shares of the company’s stock after selling 11,795 shares during the quarter. Blue Owl Capital comprises 2.2% of Transcend Capital Advisors LLC’s investment portfolio, making the stock its 5th biggest position. Transcend Capital Advisors LLC owned about 0.12% of Blue Owl Capital worth $24,720,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Blue Owl Capital by 3.3% during the third quarter. Vanguard Group Inc. now owns 40,199,339 shares of the company’s stock worth $520,983,000 after purchasing an additional 1,293,941 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in Blue Owl Capital during the fourth quarter worth about $9,929,000. Exchange Traded Concepts LLC purchased a new position in Blue Owl Capital during the fourth quarter worth about $1,944,000. Foster Victor Wealth Advisors LLC raised its stake in Blue Owl Capital by 31.1% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 420,675 shares of the company’s stock worth $6,293,000 after purchasing an additional 99,760 shares during the period. Finally, Advent International L.P. purchased a new position in Blue Owl Capital during the third quarter worth about $30,780,000. 35.85% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Price Performance

Shares of OWL stock traded up $0.22 during trading on Friday, reaching $18.79. The company’s stock had a trading volume of 2,294,565 shares, compared to its average volume of 3,638,596. The company has a market capitalization of $26.85 billion, a price-to-earnings ratio of 187.92, a P/E/G ratio of 1.20 and a beta of 1.27. The stock’s 50-day moving average price is $18.26 and its 200 day moving average price is $15.70. Blue Owl Capital Inc. has a 1-year low of $9.70 and a 1-year high of $19.87.

Blue Owl Capital (NYSE:OWL) last announced its quarterly earnings data on Friday, February 9th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Blue Owl Capital had a net margin of 3.14% and a return on equity of 17.31%. The firm had revenue of $494.04 million during the quarter, compared to analysts’ expectations of $438.77 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. On average, sell-side analysts anticipate that Blue Owl Capital Inc. will post 0.84 EPS for the current fiscal year.

Blue Owl Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Thursday, February 22nd. Blue Owl Capital’s dividend payout ratio (DPR) is 560.06%.

Insider Transactions at Blue Owl Capital

In other news, major shareholder Path Solutions 2020 L.P Glide sold 4,500,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $15.81, for a total transaction of $71,145,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 33.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on OWL. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $19.00 target price on shares of Blue Owl Capital in a research note on Thursday, April 4th. TD Cowen began coverage on shares of Blue Owl Capital in a research note on Thursday, January 4th. They issued an “outperform” rating and a $17.00 price target on the stock. Evercore ISI boosted their price target on shares of Blue Owl Capital from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. UBS Group raised shares of Blue Owl Capital from a “neutral” rating to a “buy” rating and boosted their price target for the company from $18.00 to $22.00 in a research note on Tuesday, April 2nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $24.00 price target on shares of Blue Owl Capital in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.48.

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.