Blue Owl Technology Finance (NYSE:OTF) Price Target Lowered to $12.00 at Keefe, Bruyette & Woods

Blue Owl Technology Finance (NYSE:OTF) had its target price lowered by Keefe, Bruyette & Woods from $13.00 to $12.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 12.04% from the stock’s previous close.

Several other equities research analysts have also commented on OTF. Wells Fargo & Company lowered 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 report on Friday. Truist Financial decreased their price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Citizens Jmp lowered their target price on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Finally, Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Blue Owl Technology Finance presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Blue Owl Technology Finance Price Performance

OTF traded down $0.05 during trading on Tuesday, reaching $10.71. 294,394 shares of the company’s stock were exchanged, compared to its average volume of 2,148,984. Blue Owl Technology Finance has a 1 year low of $10.67 and a 1 year high of $21.62. The stock has a market capitalization of $4.95 billion and a PE ratio of 11.90. The stock has a fifty day moving average of $11.72.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). The business had revenue of $325.94 million during the quarter. Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, analysts predict that Blue Owl Technology Finance will post 1.31 earnings per share for the current fiscal year.

Blue Owl Technology Finance declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 18th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other Blue Owl Technology Finance news, Director Chris Temple bought 5,000 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $57,450. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blue Owl Technology Finance

Hedge funds have recently bought and sold shares of the business. NewEdge Wealth LLC increased its position in shares of Blue Owl Technology Finance by 3.3% in the fourth 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 lifted its position in shares of Blue Owl Technology Finance by 22.6% during the 4th quarter. Lido Advisors LLC now owns 14,545 shares of the company’s stock valued at $208,000 after buying an additional 2,683 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Blue Owl Technology Finance in the 4th quarter valued at $44,000. Kestra Advisory Services LLC grew its stake in Blue Owl Technology Finance by 39.1% in the 1st quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company’s stock valued at $152,000 after acquiring an additional 3,443 shares during the period. Finally, Blair William & Co. IL increased its holdings in Blue Owl Technology Finance by 41.4% in the 4th 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.

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.