Blue Owl Technology Finance Corp. (NYSE:OTF) Receives Consensus Rating of “Hold” from Analysts

Blue Owl Technology Finance Corp. (NYSE:OTF) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $13.40.

Several brokerages have weighed in on OTF. 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 for the company in a research note on Tuesday, May 12th. Royal Bank Of Canada lowered their price objective on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Monday, May 18th. Truist Financial lowered 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. Zacks Research lowered shares of Blue Owl Technology Finance from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company lowered their price objective 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.

Blue Owl Technology Finance Trading Down 1.1%

Shares of OTF stock opened at $10.64 on Monday. The stock has a market capitalization of $4.92 billion and a price-to-earnings ratio of 11.82. The stock’s 50-day moving average is $11.58. Blue Owl Technology Finance has a 1-year low of $10.62 and a 1-year high of $21.62.

Blue Owl Technology Finance (NYSE:OTF) 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). The company had revenue of $325.94 million for the quarter. Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.During the same period in the previous year, the business posted $0.41 earnings per share. As a group, sell-side analysts anticipate that Blue Owl Technology Finance will post 1.26 EPS for the current fiscal year.

Blue Owl Technology Finance declared that its board has approved a stock buyback plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Blue Owl Technology Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a dividend yield of 13.2%. Blue Owl Technology Finance’s payout ratio is 155.56%.

Insider Activity at Blue Owl Technology Finance

In other news, 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 purchased 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 in the company, valued at $109,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Chris Temple bought 5,000 shares of Blue Owl Technology Finance stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at $57,450. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 17,000 shares of company stock valued at $188,630. Insiders own 0.05% of the company’s stock.

Institutional Trading of Blue Owl Technology Finance

Several hedge funds have recently added to or reduced their stakes in OTF. Newbridge Financial Services Group Inc. acquired a new stake in Blue Owl Technology Finance in the fourth quarter valued at approximately $44,000. Clearstead Advisors LLC acquired a new stake in Blue Owl Technology Finance in the fourth quarter valued at approximately $124,000. Abel Hall LLC acquired a new stake in Blue Owl Technology Finance in the first quarter valued at approximately $124,000. Kestra Advisory Services LLC acquired a new stake in Blue Owl Technology Finance in the fourth quarter valued at approximately $128,000. Finally, Cornerstone Partners Capital Management LLC acquired a new stake in Blue Owl Technology Finance in the fourth quarter valued at approximately $146,000.

Blue Owl Technology Finance Company Profile

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.