Royal Bank Of Canada Reaffirms “Sector Perform” Rating for Blue Owl Technology Finance (NYSE:OTF)

Blue Owl Technology Finance (NYSE:OTF)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank Of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $12.00 target price on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 5.59% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Citizens Jmp increased their target price on shares of 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. Citigroup restated an “outperform” rating on shares of Blue Owl Technology Finance in a research note on Friday, August 7th. Wells Fargo & Company cut 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. Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Keefe, Bruyette & Woods reduced 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 research note on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Blue Owl Technology Finance currently has an average rating of “Moderate Buy” and a consensus price target of $13.60.

Blue Owl Technology Finance Stock Down 0.8%

NYSE:OTF traded down $0.10 on Monday, reaching $11.37. 259,283 shares of the company’s stock were exchanged, compared to its average volume of 2,284,078. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 14.23 and a beta of -0.86. The business has a fifty day moving average of $10.58 and a 200-day moving average of $11.35. Blue Owl Technology Finance has a 52-week low of $9.75 and a 52-week high of $15.82.

Blue Owl Technology Finance (NYSE:OTF) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The business had revenue of $279.54 million for the quarter. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. During the same period in the prior year, the company posted $0.45 EPS. As a group, equities analysts anticipate that Blue Owl Technology Finance will post 1.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Chris Temple purchased 7,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought 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 directly owned 12,000 shares of the company’s stock, valued at $128,520. The trade was a 140.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blue Owl Technology Finance

Large investors have recently modified their holdings of the company. Clearstead Advisors LLC purchased a new stake in shares of Blue Owl Technology Finance during the 4th quarter worth $124,000. Kestra Advisory Services LLC purchased a new position in Blue Owl Technology Finance in the fourth quarter valued at $128,000. Abel Hall LLC purchased a new position in Blue Owl Technology Finance in the first quarter valued at $124,000. Onyx Bridge Wealth Group LLC acquired a new stake in Blue Owl Technology Finance in the fourth quarter valued at $150,000. Finally, Wealth Architects LLC acquired a new stake in Blue Owl Technology Finance in the fourth quarter valued at $167,000.

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.