Royal Bank Of Canada Reaffirms Sector Perform Rating for Blue Owl Technology Finance (NYSE:OTF)

Blue Owl Technology Finance (NYSE:OTF)‘s stock had its “sector perform” rating reaffirmed by stock analysts at Royal Bank Of Canada in a research note issued on Monday,Benzinga reports. They presently have a $12.00 price objective on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 5.59% from the company’s previous close.

Several other equities research analysts also recently weighed in on OTF. Citizens Jmp increased their target price on shares of Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Truist Financial dropped their price target on 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. Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Wells Fargo & Company lowered their target price on 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, Keefe, Bruyette & Woods dropped their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Blue Owl Technology Finance has a consensus rating of “Moderate Buy” and an average target price of $13.60.

Blue Owl Technology Finance Stock Down 0.8%

OTF traded down $0.10 on Monday, reaching $11.37. The company’s stock had a trading volume of 259,283 shares, compared to its average volume of 2,284,078. The stock has a 50 day moving average of $10.58 and a two-hundred day moving average of $11.35. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 14.23 and a beta of -0.86. Blue Owl Technology Finance has a fifty-two week low of $9.75 and a fifty-two week high of $15.82.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $279.54 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 in the previous year, the business posted $0.45 EPS. As a group, analysts anticipate that Blue Owl Technology Finance will post 1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Blue Owl Technology Finance

In other news, Director Chris Temple purchased 7,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was acquired at an average price of $10.71 per share, for a total transaction of $74,970.00. Following the completion of the transaction, the director directly owned 12,000 shares in the company, valued at $128,520. This represents a 140.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blue Owl Technology Finance

Several institutional investors and hedge funds have recently made changes to their positions in OTF. Clearstead Advisors LLC acquired a new stake in Blue Owl Technology Finance in the 4th quarter valued at about $124,000. Abel Hall LLC acquired a new position in Blue Owl Technology Finance during the first quarter worth about $124,000. Kestra Advisory Services LLC acquired a new position in Blue Owl Technology Finance during the fourth quarter worth about $128,000. Keybank National Association OH purchased a new stake in shares of Blue Owl Technology Finance in the first quarter valued at about $148,000. Finally, Onyx Bridge Wealth Group LLC purchased a new stake in shares of Blue Owl Technology Finance in the fourth quarter valued at about $150,000.

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.