Blue Owl Technology Finance Corp. (OTF) – What Are Investment Firms Thinking About This Stock?

Blue Owl Technology Finance Corp. (NYSE:OTF) has been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $13.60.

A number of research firms have recently weighed in on OTF. Citizens Jmp lifted their target price on Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a “market outperform” rating 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 note on Monday, August 17th. Finally, Citigroup restated an “outperform” rating on shares of Blue Owl Technology Finance in a research note on Friday, August 7th.

Blue Owl Technology Finance Trading Down 0.1%

NYSE:OTF opened at $9.13 on Thursday. The stock has a market cap of $4.19 billion, a P/E ratio of 11.42 and a beta of -0.58. The stock has a 50 day simple moving average of $10.68 and a 200 day simple moving average of $10.82. Blue Owl Technology Finance has a 1-year low of $9.06 and a 1-year high of $15.00.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $338.03 million during the quarter. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, sell-side analysts forecast that Blue Owl Technology Finance will post 1.25 EPS for the current 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 paid a $0.35 dividend. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, September 30th. This represents a $1.40 annualized dividend and a yield of 15.3%. Blue Owl Technology Finance’s dividend payout ratio is presently 175.00%.

Institutional Inflows and Outflows

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