Blue Owl Technology Finance Corp. (NYSE:OTF – Get Free Report)’s share price reached a new 52-week low on Wednesday . The company traded as low as $10.62 and last traded at $10.67, with a volume of 1899504 shares traded. The stock had previously closed at $10.63.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. Zacks Research cut Blue Owl Technology Finance from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada decreased their price objective on Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a research report on Monday, May 18th. Wells Fargo & Company decreased their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Truist Financial reduced their price target on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Finally, Citizens Jmp reduced their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.40.
Read Our Latest Stock Analysis on OTF
Blue Owl Technology Finance Price Performance
Blue Owl Technology Finance (NYSE:OTF – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). The business had revenue of $325.94 million during the quarter. Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. During the same period in the prior year, the company earned $0.41 earnings per share. On average, research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current year.
Blue Owl Technology Finance Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 13.1%. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s payout ratio is 155.56%.
Blue Owl Technology Finance announced that its board has approved a stock repurchase plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Insider Activity at Blue Owl Technology Finance
In other Blue Owl Technology Finance news, Director Melissa Weiler purchased 10,000 shares of Blue Owl Technology Finance stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $10.90 per share, with a total value of $109,000.00. Following the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at $109,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Blue Owl Technology Finance
Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Blue Owl Technology Finance by 54.5% in the 1st quarter. Bank of America Corp DE now owns 1,098,349 shares of the company’s stock valued at $13,609,000 after purchasing an additional 387,404 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Blue Owl Technology Finance in the 1st quarter valued at approximately $200,000. Pine Ridge Advisers LLC increased its stake in Blue Owl Technology Finance by 100.0% in the 1st quarter. Pine Ridge Advisers LLC now owns 1,022,732 shares of the company’s stock valued at $12,672,000 after purchasing an additional 511,368 shares in the last quarter. California State Teachers Retirement System purchased a new position in Blue Owl Technology Finance in the 1st quarter valued at approximately $250,556,000. Finally, Rivernorth Capital Management LLC increased its stake in Blue Owl Technology Finance by 12.5% in the 1st quarter. Rivernorth Capital Management LLC now owns 2,176,269 shares of the company’s stock valued at $26,964,000 after purchasing an additional 241,543 shares in the last quarter.
About Blue Owl Technology Finance
Blue Owl Technology Finance (NYSE: OTF) is a publicly traded business development company (BDC) sponsored by alternative asset manager Blue Owl. The firm focuses on providing customized debt and structured capital solutions to technology and technology-enabled companies, with an emphasis on growth-stage and middle-market borrowers. As a BDC, its primary activities include originating, structuring and managing private credit investments tailored to the financing needs of fast-growing businesses.
Its investment approach typically centers on direct lending and credit-oriented products, including senior secured loans, unitranche and subordinated debt, as well as selective equity-linked instruments and structured financings.
Read More
- Five stocks we like better than Blue Owl Technology Finance
- Banks Are Buying Back Stock Hand Over Fist, Including These 3 Names
- 2 Aluminum Stocks Poised for Big Tariff-Related Gains
- AutoZone’s Pullback Sets Up a Long-Term Buying Opportunity
- AST SpaceMobile’s June Launch Plan Puts Its 2026 Satellite Goal Back in Focus
Receive News & Ratings for Blue Owl Technology Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blue Owl Technology Finance and related companies with MarketBeat.com's FREE daily email newsletter.
