Blue Owl Technology Finance (NYSE:OTF) Lowered to Strong Sell Rating by Zacks Research

Blue Owl Technology Finance (NYSE:OTF) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms also recently commented on OTF. Wells Fargo & Company decreased 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 research note on Friday, May 8th. Keefe, Bruyette & Woods cut their price objective on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Tuesday. Citizens Jmp cut their price objective on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Finally, Truist Financial cut their price objective on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.00.

Blue Owl Technology Finance Price Performance

OTF stock opened at $10.88 on Tuesday. The company has a 50-day simple moving average of $11.70. Blue Owl Technology Finance has a 52 week low of $10.67 and a 52 week high of $21.62. The firm has a market capitalization of $5.03 billion and a P/E ratio of 12.08.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly 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 net margin of 32.78% and a return on equity of 7.43%. The business had revenue of $325.94 million during the quarter. During the same quarter in the previous year, the business earned $0.41 EPS. On average, equities research analysts anticipate that Blue Owl Technology Finance will post 1.12 earnings per share for the current fiscal year.

Blue Owl Technology Finance announced that its board has authorized a stock repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Blue Owl Technology Finance

In related news, Director Chris Temple acquired 5,000 shares of the stock in a transaction dated Wednesday, February 25th. The stock was bought at an average price of $11.49 per share, for a total transaction of $57,450.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $57,450. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have acquired 7,000 shares of company stock valued at $79,630. Insiders own 0.05% of the company’s stock.

Institutional Trading of Blue Owl Technology Finance

Several hedge funds have recently modified their holdings of OTF. QP Wealth Management LLC bought a new stake in shares of Blue Owl Technology Finance in the 4th quarter valued at $168,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Blue Owl Technology Finance by 137.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,992 shares of the company’s stock valued at $1,044,000 after acquiring an additional 42,888 shares in the last quarter. Norden Group LLC bought a new stake in shares of Blue Owl Technology Finance in the 4th quarter valued at $169,000. Pallas Capital Advisors LLC increased its stake in shares of Blue Owl Technology Finance by 642.4% in 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 in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. increased its stake in shares of Blue Owl Technology Finance by 121.0% in 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 in the last quarter.

Blue Owl Technology Finance Company Profile

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.