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

Shares of Blue Owl Technology Finance Corp. (NYSE:OTF) have earned a consensus recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $13.60.

A number of research firms have issued reports on OTF. Keefe, Bruyette & Woods decreased their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Tuesday, May 12th. Citizens Jmp decreased their price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Zacks Research downgraded Blue Owl Technology Finance from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Truist Financial reduced their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Finally, Royal Bank Of Canada reduced their price target on Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a report on Monday.

Insider Activity

In other news, 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 bought at an average cost of $11.49 per share, with a total value of $57,450.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at $57,450. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Melissa Weiler purchased 10,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $10.90 per share, with a total value of $109,000.00. Following the completion of the purchase, the director directly owned 10,000 shares in the company, valued at $109,000. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 17,000 shares of company stock valued at $188,630 in the last ninety days. Insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OTF. QP Wealth Management LLC bought a new position in shares of Blue Owl Technology Finance during the 4th quarter valued at approximately $168,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Blue Owl Technology Finance by 137.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,992 shares of the company’s stock valued at $1,044,000 after acquiring an additional 42,888 shares during the last quarter. Norden Group LLC bought a new stake in Blue Owl Technology Finance in the fourth quarter worth $169,000. Pallas Capital Advisors LLC boosted its stake in Blue Owl Technology Finance by 642.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock worth $1,243,000 after buying an additional 73,966 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. increased its position in Blue Owl Technology Finance by 121.0% during the fourth quarter. Generali Investments CEE investicni spolecnost a.s. now owns 48,426 shares of the company’s stock valued at $704,000 after acquiring an additional 26,510 shares during the last quarter.

Blue Owl Technology Finance Stock Up 0.0%

Shares of NYSE:OTF traded up $0.01 during trading on Monday, reaching $11.18. 720,627 shares of the company traded hands, compared to its average volume of 2,132,414. The stock has a market capitalization of $5.17 billion and a price-to-earnings ratio of 12.41. Blue Owl Technology Finance has a 52-week low of $10.67 and a 52-week high of $21.62. The firm’s fifty day simple moving average is $11.67.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The company had revenue of $325.94 million for the quarter. Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. During the same period in the previous year, the business posted $0.41 earnings per share. On average, research analysts forecast that Blue Owl Technology Finance will post 1.26 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 12.5%. The ex-dividend date is Tuesday, June 30th. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio is 155.56%.

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

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.