Blue Owl Technology Finance (NYSE:OTF) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Blue Owl Technology Finance (NYSE:OTF) had its target price boosted by Citizens Jmp from $16.00 to $17.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s price target would indicate a potential upside of 45.62% from the company’s previous close.

Several other equities analysts have also recently weighed in on OTF. Truist Financial lowered their price objective on shares of Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Citigroup restated an “outperform” rating on shares of Blue Owl Technology Finance in a report on Friday. Royal Bank Of Canada decreased their target price on Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a research report on Monday, May 18th. Wells Fargo & Company lowered their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.60.

Blue Owl Technology Finance Stock Performance

OTF traded up $0.34 during trading on Friday, reaching $11.67. The company had a trading volume of 1,300,964 shares, compared to its average volume of 2,261,243. The firm’s 50-day simple moving average is $10.54 and its 200 day simple moving average is $11.44. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 14.61 and a beta of -0.86. Blue Owl Technology Finance has a 12-month low of $9.75 and a 12-month high of $15.82.

Blue Owl Technology Finance (NYSE:OTF) last announced its earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $263.96 million during the quarter. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.09%. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, sell-side analysts expect that Blue Owl Technology Finance will post 1.26 EPS for the current year.

Insider Buying and Selling at Blue Owl Technology Finance

In other news, Director Melissa Weiler acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the acquisition, the director owned 10,000 shares in the company, valued at approximately $109,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chris Temple acquired 7,000 shares of Blue Owl Technology Finance stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $10.71 per share, with a total value of $74,970.00. Following the transaction, the director 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 SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 18,000 shares of company stock worth $194,710. 0.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Apollon Wealth Management LLC raised its stake in shares of Blue Owl Technology Finance by 260.2% during the 4th quarter. Apollon Wealth Management LLC now owns 72,751 shares of the company’s stock worth $1,058,000 after purchasing an additional 52,551 shares in the last quarter. Diversify Advisory Services LLC grew its stake in shares of Blue Owl Technology Finance by 79.3% in the 4th quarter. Diversify Advisory Services LLC now owns 75,188 shares of the company’s stock valued at $1,064,000 after buying an additional 33,263 shares in the last quarter. Choreo LLC increased its holdings in Blue Owl Technology Finance by 142.1% in the fourth quarter. Choreo LLC now owns 53,699 shares of the company’s stock worth $787,000 after buying an additional 31,515 shares during the last quarter. PFG Investments LLC acquired a new position in Blue Owl Technology Finance in the fourth quarter worth approximately $170,000. Finally, CWM LLC raised its position in Blue Owl Technology Finance by 177.1% during the fourth quarter. CWM LLC now owns 92,208 shares of the company’s stock valued at $1,341,000 after acquiring an additional 58,935 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.