Blue Owl Technology Finance Corp. (NYSE:OTF) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Blue Owl Technology Finance Corp. (NYSE:OTFGet Free Report) have been given a consensus rating of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $13.40.

OTF has been the subject of several recent analyst reports. Truist Financial dropped their price objective on shares of Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Zacks Research upgraded shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Wells Fargo & Company reduced their price objective on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Keefe, Bruyette & Woods dropped their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Tuesday, May 12th. Finally, Citizens Jmp reduced their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd.

Check Out Our Latest Analysis on Blue Owl Technology Finance

Insiders Place Their Bets

In related news, Director Chris Temple purchased 7,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost of $10.71 per share, for a total transaction of $74,970.00. Following the completion of the acquisition, the director owned 12,000 shares in the company, valued at approximately $128,520. This trade represents a 140.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Melissa Weiler purchased 10,000 shares of Blue Owl Technology Finance stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at $109,000. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 18,000 shares of company stock valued at $194,710 over the last three months. Insiders own 0.05% of the company’s stock.

Institutional Trading of Blue Owl Technology Finance

A number of large investors have recently modified their holdings of OTF. Orange County Employees Retirement System purchased a new position in Blue Owl Technology Finance during the 4th quarter worth $116,497,000. Requisite Capital Management LLC grew its position in shares of Blue Owl Technology Finance by 141.2% during the 4th quarter. Requisite Capital Management LLC now owns 674,624 shares of the company’s stock worth $10,078,000 after buying an additional 394,895 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Blue Owl Technology Finance by 34.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 624,044 shares of the company’s stock valued at $9,074,000 after buying an additional 159,060 shares during the period. Stephens Inc. AR bought a new stake in shares of Blue Owl Technology Finance in the fourth quarter valued at about $8,220,000. Finally, Caz Investments LP raised its holdings in shares of Blue Owl Technology Finance by 72.2% in the fourth quarter. Caz Investments LP now owns 1,159,339 shares of the company’s stock valued at $16,857,000 after acquiring an additional 486,172 shares in the last quarter.

Blue Owl Technology Finance Trading Down 0.5%

NYSE OTF traded down $0.05 during trading hours on Tuesday, hitting $10.32. 1,039,276 shares of the company were exchanged, compared to its average volume of 2,207,752. The stock has a 50-day moving average price of $10.89. Blue Owl Technology Finance has a 52 week low of $10.13 and a 52 week high of $15.82. The stock has a market capitalization of $4.77 billion and a PE ratio of 11.47.

Blue Owl Technology Finance (NYSE:OTFGet Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The company had revenue of $222.12 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 last year, the firm earned $0.41 earnings per share. As a group, analysts expect that Blue Owl Technology Finance will post 1.26 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 13.6%. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, June 30th. Blue Owl Technology Finance’s dividend payout ratio is 155.56%.

Blue Owl Technology Finance Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Blue Owl Technology Finance (NYSE:OTF)

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