Blue Owl Technology Finance (NYSE:OTF) Issues Quarterly Earnings Results

Blue Owl Technology Finance (NYSE:OTF) announced its quarterly earnings results on Wednesday. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03), Zacks reports. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. The firm had revenue of $341.29 million during the quarter.

Blue Owl Technology Finance Price Performance

Shares of NYSE:OTF traded up $0.18 during trading on Wednesday, reaching $9.81. 4,137,897 shares of the stock were exchanged, compared to its average volume of 2,308,865. Blue Owl Technology Finance has a 1-year low of $8.76 and a 1-year high of $15.00. The stock has a fifty day moving average of $10.10 and a two-hundred day moving average of $11.12. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 12.27 and a beta of -0.53.

Institutional Trading of Blue Owl Technology Finance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC bought a new position in Blue Owl Technology Finance during the 3rd quarter valued at approximately $138,000. State of New Jersey Common Pension Fund A bought a new stake in shares of Blue Owl Technology Finance in the 3rd quarter worth approximately $41,267,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Blue Owl Technology Finance by 7.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 289,255 shares of the company’s stock worth $2,838,000 after buying an additional 20,781 shares during the last quarter. Left Brain Wealth Management LLC bought a new stake in shares of Blue Owl Technology Finance in the 3rd quarter worth approximately $158,000. Finally, Apollon Wealth Management LLC increased its stake in shares of Blue Owl Technology Finance by 14.5% during the third quarter. Apollon Wealth Management LLC now owns 188,628 shares of the company’s stock valued at $1,850,000 after buying an additional 23,931 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OTF shares. Citigroup reaffirmed an “outperform” rating on shares of Blue Owl Technology Finance in a report on Friday, August 7th. Royal Bank Of Canada restated a “sector perform” rating and issued a $12.00 price target on shares of Blue Owl Technology Finance in a research report on Monday, August 17th. Finally, Citizens Jmp lifted their target price on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.60.

About Blue Owl Technology Finance

Blue Owl Technology Finance (NYSE: OTF) is a business development company that provides financing to technology-related businesses. The company primarily invests in senior secured loans and other debt investments, with a focus on companies operating in technology and technology-enabled industries.

Its portfolio may also include subordinated debt, equity investments and other securities, allowing it to support businesses at various stages of development. Blue Owl Technology Finance generally works with private, middle-market companies seeking capital for growth, acquisitions, recapitalizations and other corporate purposes.

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