Forest Hill Capital LLC Purchases New Stake in Blue Owl Capital Inc. $OWL

Forest Hill Capital LLC acquired a new position in shares of Blue Owl Capital Inc. (NYSE:OWL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 55,000 shares of the company’s stock, valued at approximately $500,000. Blue Owl Capital accounts for 0.4% of Forest Hill Capital LLC’s investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in OWL. RDST Capital LLC lifted its stake in Blue Owl Capital by 22.1% in the first quarter. RDST Capital LLC now owns 7,648,935 shares of the company’s stock worth $69,835,000 after acquiring an additional 1,383,450 shares during the period. Renaissance Technologies LLC raised its position in shares of Blue Owl Capital by 2,107.1% in the 1st quarter. Renaissance Technologies LLC now owns 6,065,200 shares of the company’s stock worth $55,375,000 after acquiring an additional 5,790,400 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Blue Owl Capital during the second quarter valued at about $54,883,000. Estuary Capital Management LP grew its stake in Blue Owl Capital by 338.9% in the first quarter. Estuary Capital Management LP now owns 4,197,297 shares of the company’s stock valued at $38,321,000 after purchasing an additional 3,241,040 shares during the last quarter. Finally, Lalia Capital LLC bought a new position in Blue Owl Capital in the second quarter worth about $34,952,000. Institutional investors own 35.85% of the company’s stock.

Blue Owl Capital Stock Performance

OWL opened at $10.20 on Thursday. The stock has a market capitalization of $15.99 billion, a price-to-earnings ratio of 72.89, a PEG ratio of 1.14 and a beta of 1.31. Blue Owl Capital Inc. has a fifty-two week low of $7.95 and a fifty-two week high of $17.00. The company has a fifty day moving average of $9.82 and a two-hundred day moving average of $10.16.

Blue Owl Capital (NYSE:OWL) last announced its earnings results on Thursday, October 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $752.60 million for the quarter, compared to analyst estimates of $698.10 million. Blue Owl Capital had a return on equity of 24.70% and a net margin of 3.08%. On average, equities research analysts forecast that Blue Owl Capital Inc. will post 0.89 earnings per share for the current year.

Blue Owl Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Tuesday, November 10th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 9.0%. The ex-dividend date is Tuesday, November 10th. Blue Owl Capital’s payout ratio is presently 657.14%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Blue Owl Capital from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, October 30th. Oppenheimer upped their price objective on shares of Blue Owl Capital from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Evercore reissued an “outperform” rating and set a $12.00 target price on shares of Blue Owl Capital in a research report on Friday, October 30th. The Goldman Sachs Group lifted their price objective on shares of Blue Owl Capital from $9.50 to $10.50 and gave the stock a “neutral” rating in a research note on Monday, November 2nd. Finally, HSBC set a $17.00 price objective on Blue Owl Capital in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and an average target price of $12.89.

Insider Buying and Selling

In other news, General Counsel Neena Reddy sold 40,292 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $10.40, for a total value of $419,036.80. Following the transaction, the general counsel owned 575,892 shares in the company, valued at $5,989,276.80. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 25.74% of the company’s stock.

About Blue Owl Capital

Blue Owl Capital Inc. is an alternative asset manager that provides private-market investment strategies and capital solutions to institutional and individual investors. Its businesses span private credit, GP strategic capital and real assets. Through its credit platform, the company provides financing to businesses, including middle-market companies. Its GP strategic capital business invests in and provides financing to alternative asset managers, while its real assets platform focuses on areas such as real estate and infrastructure.