Blue Owl Technology Finance (NYSE:OTF – Get Free Report) had its price target decreased by equities research analysts at Royal Bank Of Canada from $14.00 to $12.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 7.36% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on OTF. Truist Financial cut their price objective on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Keefe, Bruyette & Woods lowered their target price on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 12th. Citizens Jmp dropped their price target on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Wells Fargo & Company reduced their price target on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Zacks Research cut shares of Blue Owl Technology Finance from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.60.
Read Our Latest Stock Report on OTF
Blue Owl Technology Finance Price Performance
Blue Owl Technology Finance (NYSE:OTF – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. The business had revenue of $325.94 million for the quarter. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Research analysts anticipate that Blue Owl Technology Finance will post 1.26 earnings per share for the current fiscal year.
Blue Owl Technology Finance declared that its board has initiated a share repurchase program on Wednesday, February 18th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Insider Transactions at Blue Owl Technology Finance
In other Blue Owl Technology Finance news, Director Chris Temple bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $57,450. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Melissa Weiler bought 10,000 shares of Blue Owl Technology Finance stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $10.90 per share, with a total value of $109,000.00. Following the completion of the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at $109,000. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 17,000 shares of company stock valued at $188,630 over the last three months. 0.05% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Blue Owl Technology Finance
Large investors have recently modified their holdings of the stock. Orange County Employees Retirement System acquired a new position in shares of Blue Owl Technology Finance in the 4th quarter worth $116,497,000. Capricorn Investment Group LLC acquired a new position in shares of Blue Owl Technology Finance in the 4th quarter valued at $78,915,000. Rivernorth Capital Management LLC boosted its position in shares of Blue Owl Technology Finance by 374.2% in the 4th quarter. Rivernorth Capital Management LLC now owns 1,934,726 shares of the company’s stock valued at $28,131,000 after purchasing an additional 1,526,695 shares during the period. Franklin Resources Inc. increased its stake in Blue Owl Technology Finance by 155,006.8% in the 4th quarter. Franklin Resources Inc. now owns 1,754,258 shares of the company’s stock worth $25,507,000 after purchasing an additional 1,753,127 shares in the last quarter. Finally, Caz Investments LP increased its stake in Blue Owl Technology Finance by 72.2% in the 4th quarter. Caz Investments LP now owns 1,159,339 shares of the company’s stock worth $16,857,000 after purchasing an additional 486,172 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.
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