Blue Owl Technology Finance Corp. (NYSE:OTF) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Blue Owl Technology Finance Corp. (NYSE:OTF) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $13.60.

A number of analysts have recently issued reports on OTF shares. Citizens Jmp lifted their price objective on shares of Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Friday. Truist Financial reduced their target price on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Citigroup restated an “outperform” rating on shares of Blue Owl Technology Finance in a research report on Friday. Finally, Wells Fargo & Company cut their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 8th.

Insiders Place Their Bets

In other Blue Owl Technology Finance news, Director Melissa Weiler purchased 10,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $10.90 per share, with a total value of $109,000.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 price of $10.71 per share, for a total transaction of $74,970.00. Following the completion of the transaction, the director owned 12,000 shares in the company, valued at $128,520. The trade was a 140.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 18,000 shares of company stock worth $194,710. 0.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blue Owl Technology Finance

Institutional investors and hedge funds have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. bought a new position in Blue Owl Technology Finance in the fourth quarter worth $44,000. Clearstead Advisors LLC purchased a new stake in shares of Blue Owl Technology Finance in the 4th quarter worth about $124,000. Kestra Advisory Services LLC purchased a new stake in shares of Blue Owl Technology Finance in the 4th quarter worth about $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 purchased a new position in shares of Blue Owl Technology Finance during the fourth quarter valued at approximately $146,000.

Blue Owl Technology Finance Stock Performance

Shares of OTF stock opened at $11.73 on Friday. The company has a market capitalization of $5.43 billion, a PE ratio of 14.66 and a beta of -0.86. Blue Owl Technology Finance has a 52-week low of $9.75 and a 52-week high of $15.82. The business’s fifty day moving average is $10.55 and its 200 day moving average is $11.45.

Blue Owl Technology Finance (NYSE:OTF) last posted its earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The business had revenue of $279.54 million during the quarter. Blue Owl Technology Finance had a return on equity of 7.17% and a net margin of 28.69%.During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, sell-side analysts forecast that Blue Owl Technology Finance will post 1.26 EPS for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 11.9%. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s payout ratio is 175.00%.

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.