Blue Owl Technology Finance (NYSE:OTF) Hits New 1-Year Low – Time to Sell?

Blue Owl Technology Finance Corp. (NYSE:OTF)’s share price hit a new 52-week low on Monday . The company traded as low as $10.47 and last traded at $10.4870, with a volume of 2110624 shares traded. The stock had previously closed at $10.66.

Analyst Ratings Changes

A number of research analysts have recently issued reports on OTF shares. 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, May 12th. Citizens Jmp decreased their target price 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. Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Royal Bank Of Canada dropped their price target on Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Monday, May 18th. Finally, Wells Fargo & Company reduced their price objective on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Blue Owl Technology Finance currently has a consensus rating of “Moderate Buy” and an average price target of $13.40.

Blue Owl Technology Finance Stock Performance

The company’s fifty day moving average price is $11.13. The company has a market cap of $4.74 billion and a PE ratio of 11.38.

Blue Owl Technology Finance (NYSE:OTF) last issued its earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. The firm had revenue of $222.12 million during the quarter. During the same period in the previous year, the company posted $0.41 EPS. On average, equities research analysts expect that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a dividend yield of 13.7%. The ex-dividend date is Tuesday, June 30th. Blue Owl Technology Finance’s dividend payout ratio is presently 155.56%.

Insider Activity at Blue Owl Technology Finance

In other news, Director Chris Temple bought 7,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $10.71 per share, with a total value of $74,970.00. Following the completion of the transaction, the director directly owned 12,000 shares of the company’s stock, valued at $128,520. This trade represents a 140.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Melissa Weiler bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the acquisition, the director owned 10,000 shares in the company, valued at $109,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 18,000 shares of company stock valued at $194,710. Corporate insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. QP Wealth Management LLC acquired a new position in shares of Blue Owl Technology Finance during the fourth quarter valued at about $168,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Blue Owl Technology Finance by 137.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,992 shares of the company’s stock worth $1,044,000 after acquiring an additional 42,888 shares during the last quarter. Norden Group LLC bought a new position in Blue Owl Technology Finance in the 4th quarter valued at about $169,000. Pallas Capital Advisors LLC lifted its position in Blue Owl Technology Finance by 642.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock valued at $1,243,000 after acquiring an additional 73,966 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. boosted its stake in Blue Owl Technology Finance by 121.0% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 48,426 shares of the company’s stock valued at $704,000 after purchasing an additional 26,510 shares during the last quarter.

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.