Blue Owl Technology Finance (NYSE:OTF) Reaches New 12-Month Low – Time to Sell?

Blue Owl Technology Finance Corp. (NYSE:OTF)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $9.76 and last traded at $9.7850, with a volume of 192717 shares trading hands. The stock had previously closed at $9.87.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OTF. Royal Bank Of Canada dropped their price objective on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Monday, May 18th. Citizens Jmp dropped 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 note on Wednesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Keefe, Bruyette & Woods dropped their price objective 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, Truist Financial decreased their price objective on shares of Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $13.40.

Blue Owl Technology Finance Stock Performance

The company has a market capitalization of $4.54 billion and a price-to-earnings ratio of 10.91. The firm has a 50-day simple moving average of $10.56 and a two-hundred day simple moving average of $11.57.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share (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 company had revenue of $222.12 million during the quarter. During the same quarter in the prior year, the firm posted $0.41 EPS. As a group, equities analysts forecast that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 14.3%. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio (DPR) is 155.56%.

Insiders Place Their Bets

In other Blue Owl Technology Finance news, Director Chris Temple bought 7,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was acquired at an average price of $10.71 per share, for a total transaction of $74,970.00. Following the completion of the purchase, the director owned 12,000 shares of the company’s stock, valued at approximately $128,520. This represents a 140.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Melissa Weiler acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $10.90 per share, with a total value of $109,000.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at $109,000. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 18,000 shares of company stock worth $194,710. 0.05% of the stock is currently owned by company insiders.

Institutional Trading of Blue Owl Technology Finance

Institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Blue Owl Technology Finance during the fourth quarter worth about $44,000. Clearstead Advisors LLC purchased a new position in Blue Owl Technology Finance in the fourth quarter valued at about $124,000. Abel Hall LLC acquired a new position in Blue Owl Technology Finance during the 1st quarter worth approximately $124,000. Kestra Advisory Services LLC acquired a new position in Blue Owl Technology Finance in the 4th quarter worth $128,000. Finally, Cornerstone Partners Capital Management LLC purchased a new position in Blue Owl Technology Finance in the fourth quarter valued at about $146,000.

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.