Finance stock Blue Owl Capital is today's selection for IBD 50 Stocks To Watch as its shares have formed a three-weeks-tight pattern with a buy point of 18.24, according to IBD MarketSurge. The investment management firm's stock was just below the buy point Wednesday.
Shares gapped up on Feb. 9 after sales and earnings accelerated during the fourth quarter. That lifted Blue Owl to its all-time high of 18.33. Sales grew 25% to $494 million while earnings of 18 cents per share rose 20%.
Meanwhile, sales and earnings have grown steadily over the past seven quarters. Sales growth ranged between 16% and 155% over the past eight quarters. Earnings declined during one quarter in the same period but have otherwise ranged between 14% and 44%.
Blue Owl: $165 Billion Under Management
Blue Owl provides investment management and financing to companies. It has more than $165 billion in assets under management.
The company also has a strong Composite Rating of 96 and a Relative Strength Rating of 94. However, its EPS Rating of 66 lags.
Blue Owl Capital listed on the New York Stock Exchange in December 2020. Mutual funds own 46% of outstanding shares of the finance stock.
Further, more funds have also been net buyers of Blue Owl in recent weeks, giving the stock an Accumulation/Distribution Rating of A. The Columbia Acorn Fund (ACRNX) holds shares of Blue Owl.
Exchange traded funds hold the stock as well. The iShares Russell Mid-Cap ETF holds shares of the stock.
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