Traders Purchase High Volume of Put Options on Blue Owl Capital (NYSE:OWL)

Blue Owl Capital Inc. (NYSE:OWL) was the target of some unusual options trading on Friday. Stock traders bought 25,576 put options on the company. This represents an increase of approximately 638% compared to the average daily volume of 3,467 put options.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $26.05 on Friday. The firm has a market cap of $38.91 billion, a price-to-earnings ratio of 153.24, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. Blue Owl Capital has a one year low of $15.18 and a one year high of $26.73. The stock’s 50-day moving average is $23.98 and its 200-day moving average is $21.22.

Blue Owl Capital (NYSE:OWL) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. The firm had revenue of $600.88 million during the quarter, compared to the consensus estimate of $565.93 million. Blue Owl Capital had a return on equity of 19.98% and a net margin of 4.95%. During the same quarter in the prior year, the firm posted $0.16 EPS. On average, equities analysts expect that Blue Owl Capital will post 0.78 EPS for the current year.

Institutional Trading of Blue Owl Capital

Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in Blue Owl Capital in the 2nd quarter valued at $2,617,000. The Manufacturers Life Insurance Company grew its holdings in shares of Blue Owl Capital by 19.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 99,866 shares of the company’s stock valued at $1,773,000 after acquiring an additional 16,189 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Blue Owl Capital in the second quarter valued at about $749,000. Creative Planning raised its holdings in Blue Owl Capital by 25.2% during the second quarter. Creative Planning now owns 50,771 shares of the company’s stock worth $901,000 after acquiring an additional 10,224 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Blue Owl Capital during the second quarter valued at approximately $1,035,000. Institutional investors own 35.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on OWL shares. Wells Fargo & Company reduced their target price on Blue Owl Capital from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. TD Cowen upgraded shares of Blue Owl Capital from a “hold” rating to a “buy” rating and boosted their price objective for the company from $26.00 to $28.00 in a report on Thursday, January 16th. Oppenheimer increased their target price on shares of Blue Owl Capital from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Keefe, Bruyette & Woods boosted their price target on shares of Blue Owl Capital from $22.00 to $26.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $27.00 price objective on shares of Blue Owl Capital in a research note on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.85.

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.