Blue Owl Technology Finance (NYSE:OTF) Sets New 12-Month Low – What’s Next?

Blue Owl Technology Finance Corp. (NYSE:OTF) reached a new 52-week low during trading on Thursday. The stock traded as low as $9.73 and last traded at $9.6970, with a volume of 150746 shares. The stock had previously closed at $9.81.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $12.00 target price on shares of Blue Owl Technology Finance in a report on Monday, August 17th. Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Citizens Jmp raised 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 research report on Friday, August 7th. Finally, Citigroup reiterated an “outperform” rating on shares of Blue Owl Technology Finance in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.60.

Blue Owl Technology Finance Price Performance

The company has a fifty day moving average price of $10.83 and a 200 day moving average price of $11.03. The stock has a market cap of $4.45 billion, a P/E ratio of 12.13 and a beta of -0.73.

Blue Owl Technology Finance (NYSE:OTF) last issued its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping 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 $338.03 million for the quarter. During the same quarter in the prior year, the business earned $0.45 earnings per share. As a group, sell-side analysts expect that Blue Owl Technology Finance Corp. will post 1.25 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 Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, September 30th. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a yield of 14.4%. Blue Owl Technology Finance’s dividend payout ratio is currently 175.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Integrity Financial Corp WA acquired a new stake in shares of Blue Owl Technology Finance in the 2nd quarter worth about $123,000. Abel Hall LLC acquired a new position in Blue Owl Technology Finance during the 1st quarter valued at about $124,000. Keybank National Association OH acquired a new position in Blue Owl Technology Finance during the 1st quarter valued at about $148,000. Kestra Advisory Services LLC increased its holdings in Blue Owl Technology Finance by 39.1% during the 1st quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company’s stock worth $152,000 after purchasing an additional 3,443 shares in the last quarter. Finally, Angeles Wealth Management LLC bought a new stake in Blue Owl Technology Finance during the 1st quarter worth approximately $166,000.

Blue Owl Technology Finance Company Profile

Blue Owl Technology Finance Corp. (NYSE: OTF) is a business development company focused on providing financing to technology-related businesses. The company invests primarily in privately owned, middle-market companies that may require capital to support growth, acquisitions, recapitalizations, or other corporate activities.

Its investment portfolio generally consists of senior secured loans and other debt investments, with the potential for equity and equity-related investments. Blue Owl Technology Finance seeks to generate current income and, to a lesser extent, capital appreciation by investing across segments of the technology sector, including software, technology services, and other technology-enabled businesses.

The company is externally managed by an affiliate of Blue Owl Capital Inc, an alternative asset management firm.