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

Blue Owl Technology Finance Corp. (NYSE:OTF) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $10.06 and last traded at $10.0750, with a volume of 1788870 shares traded. The stock had previously closed at $10.29.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citizens Jmp decreased their price objective 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. Truist Financial dropped their target price 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 cut their price target on Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Monday, May 18th. Keefe, Bruyette & Woods decreased their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Tuesday, May 12th. Finally, Wells Fargo & Company lowered their price objective on 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. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.40.

Blue Owl Technology Finance Price Performance

The business’s fifty day moving average is $10.72. The company has a market capitalization of $4.68 billion and a price-to-earnings ratio of 11.24.

Blue Owl Technology Finance (NYSE:OTF) last released its earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.The company had revenue of $222.12 million during the quarter. During the same quarter in the previous year, the business earned $0.41 earnings per share. Sell-side analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.35 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 13.8%. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s payout ratio is presently 155.56%.

Insider Buying and Selling at Blue Owl Technology Finance

In related news, Director Chris Temple acquired 7,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $10.71 per share, with a total value of $74,970.00. Following the acquisition, the director directly owned 12,000 shares of the company’s stock, valued at approximately $128,520. This trade represents a 140.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Melissa Weiler acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $10.90 per share, with a total value of $109,000.00. Following the transaction, the director owned 10,000 shares of the company’s stock, valued at approximately $109,000. This represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 18,000 shares of company stock worth $194,710. Corporate insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Blue Owl Technology Finance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. QP Wealth Management LLC purchased a new position in Blue Owl Technology Finance during the 4th quarter valued at approximately $168,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Blue Owl Technology Finance by 137.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,992 shares of the company’s stock worth $1,044,000 after acquiring an additional 42,888 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Blue Owl Technology Finance during the 4th quarter worth approximately $169,000. Pallas Capital Advisors LLC boosted its position in shares of Blue Owl Technology Finance by 642.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock valued at $1,243,000 after acquiring an additional 73,966 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. boosted its position in shares of Blue Owl Technology Finance by 121.0% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 48,426 shares of the company’s stock valued at $704,000 after acquiring an additional 26,510 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.