Blue Owl Technology Finance (NYSE:OTF – Get Free Report) released its earnings results on Wednesday. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.03), Zacks reports. The business had revenue of $341.29 million for the quarter. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. During the same period last year, the firm posted $0.32 EPS.
Blue Owl Technology Finance Price Performance
Shares of OTF traded down $0.23 during midday trading on Thursday, reaching $9.56. The stock had a trading volume of 2,092,167 shares, compared to its average volume of 2,307,111. The firm’s 50 day moving average price is $10.07 and its 200-day moving average price is $11.10. The company has a market capitalization of $4.38 billion, a P/E ratio of 11.94 and a beta of -0.54. Blue Owl Technology Finance has a 52 week low of $8.76 and a 52 week high of $15.00.
Blue Owl Technology Finance Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 14.7%. The ex-dividend date of this dividend is Thursday, December 31st. Blue Owl Technology Finance’s dividend payout ratio (DPR) is presently 175.00%.
Institutional Trading of Blue Owl Technology Finance
A number of large investors have recently added to or reduced their stakes in OTF. Abel Hall LLC acquired a new stake in shares of Blue Owl Technology Finance during the first quarter valued at approximately $124,000. Integrity Financial Corp WA purchased a new stake in shares of Blue Owl Technology Finance in the 2nd quarter valued at approximately $123,000. Keybank National Association OH acquired a new position in Blue Owl Technology Finance in the 1st quarter worth approximately $148,000. Kestra Advisory Services LLC boosted its stake in Blue Owl Technology Finance by 39.1% in the 1st quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company’s stock worth $152,000 after purchasing an additional 3,443 shares during the period. Finally, Angeles Wealth Management LLC purchased a new position in Blue Owl Technology Finance during the 1st quarter worth approximately $166,000.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Citigroup reissued an “outperform” rating on shares of Blue Owl Technology Finance in a report on Friday, August 7th. Royal Bank Of Canada restated a “sector perform” rating and set a $12.00 price target on shares of Blue Owl Technology Finance in a research report on Monday, August 17th. Finally, Citizens Jmp increased their price objective on shares of Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Blue Owl Technology Finance currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.60.
Get Our Latest Stock Analysis on OTF
Blue Owl Technology Finance Company Profile
Blue Owl Technology Finance (NYSE: OTF) is a business development company that provides financing to technology-related businesses. The company primarily invests in senior secured loans and other debt investments, with a focus on companies operating in technology and technology-enabled industries.
Its portfolio may also include subordinated debt, equity investments and other securities, allowing it to support businesses at various stages of development. Blue Owl Technology Finance generally works with private, middle-market companies seeking capital for growth, acquisitions, recapitalizations and other corporate purposes.
The company is externally managed by an affiliate of Blue Owl Capital, an alternative asset manager.
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