Blue Owl Technology Finance (NYSE:OTF) Lowered to Strong Sell Rating by Zacks Research

Blue Owl Technology Finance (NYSE:OTF) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

OTF has been the topic of several other reports. Keefe, Bruyette & Woods dropped their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating on the stock in a research note on Tuesday. Citizens Jmp dropped their price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Truist Financial dropped their price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Finally, Wells Fargo & Company dropped their price objective 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. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.00.

Blue Owl Technology Finance Trading Up 1.4%

Shares of OTF opened at $10.88 on Tuesday. Blue Owl Technology Finance has a 12-month low of $10.67 and a 12-month high of $21.62. The stock has a fifty day moving average price of $11.70. The company has a market cap of $5.03 billion and a PE ratio of 12.08.

Blue Owl Technology Finance (NYSE:OTF) last issued its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.The firm had revenue of $325.94 million during the quarter. During the same quarter in the prior year, the company posted $0.41 EPS. Analysts anticipate that Blue Owl Technology Finance will post 1.12 earnings per share for the current fiscal year.

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

Insider Activity

In other Blue Owl Technology Finance news, Director Chris Temple bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average cost of $11.49 per share, with a total value of $57,450.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $57,450. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders acquired 7,000 shares of company stock worth $79,630. Company insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Blue Owl Technology Finance

Large investors have recently made changes to their positions in the business. Apollon Wealth Management LLC increased its position 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 valued at $1,058,000 after purchasing an additional 52,551 shares during the last quarter. Pallas Capital Advisors LLC increased its position in shares of Blue Owl Technology Finance by 642.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock valued at $1,243,000 after purchasing an additional 73,966 shares during the last quarter. Denali Advisors LLC purchased a new stake in shares of Blue Owl Technology Finance during the 4th quarter valued at $1,576,000. Sanctuary Advisors LLC increased its position in shares of Blue Owl Technology Finance by 195.4% during the 4th quarter. Sanctuary Advisors LLC now owns 149,377 shares of the company’s stock valued at $2,172,000 after purchasing an additional 98,812 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Blue Owl Technology Finance by 141.6% during the 4th quarter. Blue Trust Inc. now owns 126,897 shares of the company’s stock valued at $1,845,000 after purchasing an additional 74,370 shares during the last quarter.

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.