Keefe, Bruyette & Woods Lowers Blue Owl Technology Finance (NYSE:OTF) Price Target to $13.00

Blue Owl Technology Finance (NYSE:OTF) had its price target dropped by equities researchers at Keefe, Bruyette & Woods from $16.00 to $13.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 12.95% from the stock’s current price.

Several other analysts have also recently weighed in on OTF. Wells Fargo & Company dropped their price target on shares of Blue Owl Technology Finance from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Truist Financial lowered their price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Monday. Finally, Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Blue Owl Technology Finance Price Performance

Shares of OTF opened at $11.51 on Monday. Blue Owl Technology Finance has a 52-week low of $10.99 and a 52-week high of $21.62. The firm has a market capitalization of $5.36 billion and a price-to-earnings ratio of 6.77.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Blue Owl Technology Finance had a net margin of 62.89% and a return on equity of 6.91%. The firm had revenue of $320.58 million during the quarter, compared to analysts’ expectations of $326.27 million.

Blue Owl Technology Finance declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Blue Owl Technology Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in Blue Owl Technology Finance during the fourth quarter worth $44,000. Clearstead Advisors LLC purchased a new stake in shares of Blue Owl Technology Finance in the 4th quarter valued at $124,000. Kestra Advisory Services LLC acquired a new position in Blue Owl Technology Finance during the 4th quarter worth about $128,000. Cornerstone Partners Capital Management LLC acquired a new position in Blue Owl Technology Finance during the 4th quarter worth about $146,000. Finally, Onyx Bridge Wealth Group LLC purchased a new position in Blue Owl Technology Finance during the 4th quarter valued at about $150,000.

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.