Blue Owl Technology Finance Corp. (NYSE:OTF) Receives Average Rating of “Moderate Buy” from Analysts

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

A number of equities research analysts recently commented on OTF shares. Citizens Jmp upped their price objective on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Royal Bank Of Canada restated a “sector perform” rating and set a $12.00 target price on shares of Blue Owl Technology Finance in a report on Monday, August 17th. Truist Financial lowered their price target on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Wells Fargo & Company cut 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. Finally, Citigroup reissued an “outperform” rating on shares of Blue Owl Technology Finance in a research note on Friday, August 7th.

Hedge Funds Weigh In On Blue Owl Technology Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Wealth LLC increased its position in shares of Blue Owl Technology Finance by 3.3% in the 4th quarter. NewEdge Wealth LLC now owns 69,925 shares of the company’s stock valued at $1,017,000 after buying an additional 2,218 shares in the last quarter. Lido Advisors LLC raised its stake in Blue Owl Technology Finance by 22.6% during the 4th quarter. Lido Advisors LLC now owns 14,545 shares of the company’s stock worth $208,000 after buying an additional 2,683 shares during the period. Kestra Advisory Services LLC lifted its holdings in Blue Owl Technology Finance by 39.1% during the first quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company’s stock worth $152,000 after acquiring an additional 3,443 shares in the last quarter. Blair William & Co. IL lifted its holdings in Blue Owl Technology Finance by 41.4% during the fourth quarter. Blair William & Co. IL now owns 14,807 shares of the company’s stock worth $215,000 after acquiring an additional 4,334 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Blue Owl Technology Finance by 31.6% in the first quarter. Janney Montgomery Scott LLC now owns 33,321 shares of the company’s stock valued at $413,000 after acquiring an additional 8,010 shares during the period.

Blue Owl Technology Finance Stock Performance

OTF opened at $11.19 on Wednesday. The company has a fifty day moving average price of $10.58 and a two-hundred day moving average price of $11.25. The firm has a market capitalization of $5.12 billion, a PE ratio of 13.98 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.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Blue Owl Technology Finance had a return on equity of 7.17% and a net margin of 28.69%.The company had revenue of $279.54 million for the quarter. During the same period last year, the company earned $0.45 EPS. Equities analysts forecast that Blue Owl Technology Finance will post 1.25 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a yield of 12.5%. Blue Owl Technology Finance’s payout ratio is currently 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.