Blue Owl Technology Finance Corp. (NYSE:OTF) Receives $13.40 Average Price Target from Analysts

Blue Owl Technology Finance Corp. (NYSE:OTF) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $13.40.

Several research firms recently commented on OTF. Citizens Jmp lowered their target price on 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. Truist Financial reduced their price target on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Keefe, Bruyette & Woods decreased their price target on 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. Wells Fargo & Company cut 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 note on Friday, May 8th. Finally, Royal Bank Of Canada reduced 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 report on Monday, May 18th.

Blue Owl Technology Finance Stock Performance

Shares of NYSE:OTF opened at $10.66 on Friday. The firm has a 50-day moving average price of $11.17. The company has a market cap of $4.93 billion and a P/E ratio of 11.84. Blue Owl Technology Finance has a fifty-two week low of $10.48 and a fifty-two week high of $16.10.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). The firm 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 quarter in the prior year, the firm earned $0.41 EPS. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.1%. Blue Owl Technology Finance’s payout ratio is presently 155.56%.

Insider Buying and Selling

In related news, Director Chris Temple acquired 7,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was acquired 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 directly owned 12,000 shares of the company’s stock, valued at approximately $128,520. The trade was a 140.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Melissa Weiler acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $109,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 18,000 shares of company stock valued at $194,710. Company insiders own 0.05% of the company’s stock.

Institutional Trading of Blue Owl Technology Finance

Several institutional investors have recently modified their holdings of OTF. Newbridge Financial Services Group Inc. bought a new stake in Blue Owl Technology Finance in the fourth quarter worth about $44,000. Clearstead Advisors LLC acquired a new position in shares of Blue Owl Technology Finance in the 4th quarter worth approximately $124,000. Abel Hall LLC acquired a new position in shares of Blue Owl Technology Finance in the 1st quarter worth approximately $124,000. Kestra Advisory Services LLC bought a new stake in shares of Blue Owl Technology Finance in the 4th quarter worth approximately $128,000. Finally, Cornerstone Partners Capital Management LLC acquired a new stake in Blue Owl Technology Finance during the fourth quarter valued at approximately $146,000.

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.