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

Blue Owl Technology Finance Corp. (NYSE:OTF) has earned an average recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat Ratings 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 twelve-month price target among analysts that have updated their coverage on the stock in the last year is $13.40.

OTF has been the subject of several research reports. Zacks Research lowered shares of Blue Owl Technology Finance from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Wells Fargo & Company reduced their price target on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Royal Bank Of Canada decreased their price target on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Monday, May 18th. Truist Financial lowered their price objective on shares of 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. Finally, Keefe, Bruyette & Woods cut 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 report on Tuesday, May 12th.

Blue Owl Technology Finance Stock Down 0.2%

OTF opened at $11.04 on Friday. The stock has a market capitalization of $5.11 billion and a PE ratio of 12.26. The company’s 50 day simple moving average is $11.23. Blue Owl Technology Finance has a 52-week low of $10.48 and a 52-week high of $21.62.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The business had revenue of $222.12 million during the quarter. Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.During the same period last year, the firm earned $0.41 earnings per share. As a group, analysts forecast that Blue Owl Technology Finance will post 1.26 earnings per share for the current fiscal year.

Blue Owl Technology Finance announced that its board has authorized a stock buyback plan on Wednesday, February 18th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Blue Owl Technology Finance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date is Tuesday, June 30th. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio (DPR) is 155.56%.

Insider Buying and Selling at Blue Owl Technology Finance

In other news, Director Chris Temple purchased 7,000 shares of Blue Owl Technology Finance stock in a transaction that occurred on 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 purchase, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Melissa Weiler acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $10.90 per share, with a total value of $109,000.00. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at $109,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 18,000 shares of company stock worth $194,710. 0.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OTF. Newbridge Financial Services Group Inc. bought a new stake in Blue Owl Technology Finance during the fourth quarter worth about $44,000. Clearstead Advisors LLC bought a new position in shares of Blue Owl Technology Finance during the fourth quarter valued at approximately $124,000. Kestra Advisory Services LLC purchased a new position in shares of Blue Owl Technology Finance during the fourth quarter valued at approximately $128,000. Abel Hall LLC purchased a new position in shares of Blue Owl Technology Finance during the first quarter valued at approximately $124,000. Finally, Cornerstone Partners Capital Management LLC bought a new stake in shares of Blue Owl Technology Finance in the 4th quarter worth approximately $146,000.

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.