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

Blue Owl Technology Finance (NYSE:OTF) issued its quarterly earnings results on Wednesday. The company reported $0.33 earnings per share for the quarter, FiscalAI reports. Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.The business had revenue of $263.96 million for the quarter.

Blue Owl Technology Finance Trading Down 3.0%

Blue Owl Technology Finance stock traded down $0.32 during mid-day trading on Wednesday, hitting $10.38. The company had a trading volume of 2,785,512 shares, compared to its average volume of 2,245,193. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 11.53 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. The company’s fifty day moving average is $10.54 and its 200-day moving average is $11.49.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on OTF shares. Keefe, Bruyette & Woods dropped their target price on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 12th. Citizens Jmp reduced 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 research note on Wednesday, April 22nd. Truist Financial decreased their target price on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Zacks Research raised shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Royal Bank Of Canada dropped their price objective on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Monday, May 18th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.40.

Insider Buying and Selling at Blue Owl Technology Finance

In other news, Director Melissa Weiler acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at approximately $109,000. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chris Temple bought 7,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were 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 approximately $128,520. This trade represents a 140.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 18,000 shares of company stock valued at $194,710. Company insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Blue Owl Technology Finance

A number of institutional investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. purchased a new position in Blue Owl Technology Finance during the fourth quarter valued at $44,000. Clearstead Advisors LLC acquired a new position in shares of Blue Owl Technology Finance during the 4th quarter worth about $124,000. Abel Hall LLC purchased a new position in Blue Owl Technology Finance in the 1st quarter valued at about $124,000. Kestra Advisory Services LLC purchased a new position in Blue Owl Technology Finance in the 4th quarter valued at about $128,000. Finally, Cornerstone Partners Capital Management LLC acquired a new stake in Blue Owl Technology Finance in the 4th quarter worth about $146,000.

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.