Blue Owl Technology Finance (NYSE:OTF) Sets New 1-Year Low – Time to Sell?

Shares of Blue Owl Technology Finance Corp. (NYSE:OTF) reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $9.00 and last traded at $8.9740, with a volume of 160,699 shares traded. The stock had previously closed at $9.13.

Analyst Upgrades and Downgrades

OTF has been the topic of several recent analyst reports. Citizens Jmp upped their price target on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Citigroup reiterated an “outperform” rating on shares of Blue Owl Technology Finance in a report on Friday, August 7th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $12.00 price objective on shares of Blue Owl Technology Finance in a research report on Monday, August 17th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.60.

Blue Owl Technology Finance Stock Performance

The business’s 50 day moving average price is $10.59 and its 200-day moving average price is $10.77. The firm has a market capitalization of $4.11 billion, a PE ratio of 11.22 and a beta of -0.58.

Blue Owl Technology Finance (NYSE:OTF) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm had revenue of $338.03 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 quarter in the prior year, the company posted $0.45 earnings per share. As a group, analysts anticipate that Blue Owl Technology Finance Corp. will post 1.25 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 15.6%. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, September 30th. Blue Owl Technology Finance’s payout ratio is currently 175.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System acquired a new stake in shares of Blue Owl Technology Finance in the first quarter valued at $250,556,000. Laura & John Arnold Foundation purchased a new stake in shares of Blue Owl Technology Finance in the 2nd quarter valued at $12,420,000. Wellington Management Group LLP acquired a new position in Blue Owl Technology Finance during the 2nd quarter worth about $11,666,000. Requisite Capital Management LLC lifted its stake in Blue Owl Technology Finance by 50.8% during the 2nd quarter. Requisite Capital Management LLC now owns 1,885,709 shares of the company’s stock worth $20,267,000 after acquiring an additional 635,531 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Blue Owl Technology Finance by 179.0% during the 1st quarter. Royal Bank of Canada now owns 826,317 shares of the company’s stock valued at $10,238,000 after acquiring an additional 530,185 shares during the period.

Blue Owl Technology Finance Company Profile

Blue Owl Technology Finance Corp. (NYSE: OTF) is a business development company focused on providing financing to technology-related businesses. The company invests primarily in privately owned, middle-market companies that may require capital to support growth, acquisitions, recapitalizations, or other corporate activities.

Its investment portfolio generally consists of senior secured loans and other debt investments, with the potential for equity and equity-related investments. Blue Owl Technology Finance seeks to generate current income and, to a lesser extent, capital appreciation by investing across segments of the technology sector, including software, technology services, and other technology-enabled businesses.

The company is externally managed by an affiliate of Blue Owl Capital Inc, an alternative asset management firm.