Blue Owl Technology Finance (NYSE:OTF) Sets New 52-Week Low – Time to Sell?

Blue Owl Technology Finance Corp. (NYSE:OTF) hit a new 52-week low during trading on Wednesday . The stock traded as low as $10.12 and last traded at $10.1660, with a volume of 1563137 shares. The stock had previously closed at $10.26.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Tuesday, May 12th. Royal Bank Of Canada reduced their price target on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Monday, May 18th. 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 research report on Tuesday, May 19th. Wells Fargo & Company reduced their target price 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. Finally, Citizens Jmp dropped their price objective on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.40.

Blue Owl Technology Finance Stock Performance

The stock has a market capitalization of $4.71 billion and a P/E ratio of 11.32. The firm has a fifty day simple moving average of $10.87.

Blue Owl Technology Finance (NYSE:OTF) last posted its earnings results 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 firm had revenue of $222.12 million during the quarter. Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. During the same quarter last year, the company posted $0.41 earnings per share. As a group, sell-side analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.8%. Blue Owl Technology Finance’s payout ratio is 155.56%.

Insider Buying and Selling

In other Blue Owl Technology Finance news, Director Chris Temple bought 7,000 shares of Blue Owl Technology Finance stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of $10.71 per share, with a total value of $74,970.00. Following the completion of the acquisition, the director owned 12,000 shares in the company, valued at approximately $128,520. This represents a 140.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Melissa Weiler purchased 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 directly owned 10,000 shares of the company’s stock, valued at approximately $109,000. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 18,000 shares of company stock valued at $194,710. 0.05% of the stock is owned by corporate insiders.

Institutional Trading of Blue Owl Technology Finance

Several hedge funds have recently bought and sold shares of OTF. QP Wealth Management LLC bought a new position in shares of Blue Owl Technology Finance in the fourth quarter worth about $168,000. Wealth Enhancement Advisory Services LLC grew its stake 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 period. Norden Group LLC purchased a new stake in Blue Owl Technology Finance in the 4th quarter worth approximately $169,000. Pallas Capital Advisors LLC raised its stake in Blue Owl Technology Finance by 642.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock worth $1,243,000 after acquiring an additional 73,966 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. raised 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 worth $704,000 after acquiring an additional 26,510 shares during the period.

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.