Blue Owl Technology Finance (NYSE:OTF) Announces Earnings Results

Blue Owl Technology Finance (NYSE:OTF) released its quarterly earnings results on Wednesday. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03), Zacks reports. Blue Owl Technology Finance had a return on equity of 7.02% and a net margin of 27.11%. The company had revenue of $341.29 million during the quarter. During the same period in the previous year, the company posted $0.32 EPS.

Blue Owl Technology Finance Price Performance

OTF traded down $0.03 on Friday, reaching $9.50. The company’s stock had a trading volume of 2,009,420 shares, compared to its average volume of 2,314,071. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 12.17 and a beta of -0.54. Blue Owl Technology Finance has a 1 year low of $8.76 and a 1 year high of $15.00. The business’s 50 day moving average is $10.04 and its 200 day moving average is $11.08.

Blue Owl Technology Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a $0.35 dividend. The ex-dividend date is Thursday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 14.7%. Blue Owl Technology Finance’s payout ratio is 175.00%.

Analyst Ratings Changes

A number of analysts have recently issued reports on OTF shares. Citigroup reiterated an “outperform” rating on shares of Blue Owl Technology Finance in a research note on Friday, August 7th. Wells Fargo & Company decreased their target price on shares of Blue Owl Technology Finance from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Friday. Royal Bank Of Canada restated a “sector perform” rating and issued a $12.00 target price on shares of Blue Owl Technology Finance in a research note on Monday, August 17th. Finally, Citizens Jmp raised their price target on shares of Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.40.

Hedge Funds Weigh In On Blue Owl Technology Finance

A number of institutional investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC bought a new stake in shares of Blue Owl Technology Finance in the 3rd quarter worth about $138,000. State of New Jersey Common Pension Fund A acquired a new stake in shares of Blue Owl Technology Finance in the 3rd quarter valued at about $41,267,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Blue Owl Technology Finance by 7.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 289,255 shares of the company’s stock valued at $2,838,000 after purchasing an additional 20,781 shares in the last quarter. Left Brain Wealth Management LLC bought a new position in shares of Blue Owl Technology Finance during the third quarter worth about $158,000. Finally, Apollon Wealth Management LLC lifted its position in shares of Blue Owl Technology Finance by 14.5% during the third quarter. Apollon Wealth Management LLC now owns 188,628 shares of the company’s stock worth $1,850,000 after purchasing an additional 23,931 shares during the last quarter.

Blue Owl Technology Finance Company Profile

Blue Owl Technology Finance (NYSE: OTF) is a business development company that provides financing to technology-related businesses. The company primarily invests in senior secured loans and other debt investments, with a focus on companies operating in technology and technology-enabled industries.

Its portfolio may also include subordinated debt, equity investments and other securities, allowing it to support businesses at various stages of development. Blue Owl Technology Finance generally works with private, middle-market companies seeking capital for growth, acquisitions, recapitalizations and other corporate purposes.

The company is externally managed by an affiliate of Blue Owl Capital, an alternative asset manager.