Blue Owl Technology Finance (NYSE:OTF) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Blue Owl Technology Finance (NYSE:OTF) posted its quarterly earnings data on Wednesday. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02, FiscalAI reports. The business had revenue of $263.96 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 quarter in the previous year, the company earned $0.45 earnings per share.

Blue Owl Technology Finance Stock Performance

Blue Owl Technology Finance stock traded up $0.73 during mid-day trading on Thursday, reaching $11.15. The stock had a trading volume of 2,116,922 shares, compared to its average volume of 2,242,590. The firm has a market capitalization of $5.16 billion, a PE ratio of 12.39 and a beta of -0.86. Blue Owl Technology Finance has a fifty-two week low of $9.75 and a fifty-two week high of $15.82. The stock’s 50-day simple moving average is $10.53 and its 200-day simple moving average is $11.46.

Blue Owl Technology Finance Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, September 30th. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a yield of 12.6%. Blue Owl Technology Finance’s dividend payout ratio is currently 155.56%.

Analyst Ratings Changes

OTF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lowered their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Tuesday, May 12th. Wells Fargo & Company decreased their target price 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. Truist Financial lowered their price target 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. Royal Bank Of Canada reduced 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 research note on Monday, May 18th. Finally, Citizens Jmp cut their price target 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 report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Blue Owl Technology Finance currently has a consensus rating of “Moderate Buy” and an average price target of $13.40.

Insiders Place Their Bets

In other Blue Owl Technology Finance news, Director Melissa Weiler acquired 10,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were 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 approximately $109,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Chris Temple acquired 7,000 shares of Blue Owl Technology Finance stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $10.71 per share, with a total value of $74,970.00. Following the completion of the acquisition, the director directly owned 12,000 shares of the company’s stock, valued at approximately $128,520. The trade was a 140.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 18,000 shares of company stock valued at $194,710 in the last 90 days. 0.05% of the stock is currently owned by company insiders.

Institutional Trading of Blue Owl Technology Finance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Leo Wealth LLC bought a new position in shares of Blue Owl Technology Finance in the fourth quarter valued at approximately $202,000. Newbridge Financial Services Group Inc. purchased a new stake in Blue Owl Technology Finance in the 4th quarter valued at $44,000. Cornerstone Partners Capital Management LLC bought a new position in Blue Owl Technology Finance during the 4th quarter valued at $146,000. Apollon Wealth Management LLC lifted its stake in Blue Owl Technology Finance by 260.2% during the 4th quarter. Apollon Wealth Management LLC now owns 72,751 shares of the company’s stock valued at $1,058,000 after acquiring an additional 52,551 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its holdings in Blue Owl Technology Finance by 79.3% during the 4th quarter. Diversify Advisory Services LLC now owns 75,188 shares of the company’s stock worth $1,064,000 after acquiring an additional 33,263 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.