Blue Owl Technology Finance (NYSE:OTF) Given New $16.00 Price Target at Truist Financial

Blue Owl Technology Finance (NYSE:OTF) had its price target decreased by investment analysts at Truist Financial from $17.00 to $16.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 37.58% from the stock’s current price.

A number of other analysts also recently commented on the company. Wells Fargo & Company dropped their price objective on Blue Owl Technology Finance from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Friday. Zacks Research raised shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Blue Owl Technology Finance presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Blue Owl Technology Finance Price Performance

NYSE:OTF opened at $11.63 on Monday. Blue Owl Technology Finance has a 52-week low of $11.60 and a 52-week high of $21.62. The firm has a market cap of $5.41 billion and a PE ratio of 6.84.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Blue Owl Technology Finance had a net margin of 62.89% and a return on equity of 6.91%. The firm had revenue of $320.58 million during the quarter, compared to analyst estimates of $326.27 million.

Blue Owl Technology Finance announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Blue Owl Technology Finance

Hedge funds have recently modified their holdings of the stock. QP Wealth Management LLC acquired a new position in Blue Owl Technology Finance during the fourth quarter worth $168,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Blue Owl Technology Finance by 137.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,992 shares of the company’s stock worth $1,044,000 after acquiring an additional 42,888 shares in the last quarter. Norden Group LLC acquired a new position in shares of Blue Owl Technology Finance during the 4th quarter valued at about $169,000. Pallas Capital Advisors LLC raised 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. lifted its holdings in 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 worth $704,000 after purchasing an additional 26,510 shares during 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.