Citizens Jmp Issues Positive Forecast for Blue Owl Technology Finance (NYSE:OTF) Stock Price

Blue Owl Technology Finance (NYSE:OTF) had its target price boosted by Citizens Jmp from $16.00 to $17.00 in a report published on Friday,Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other research firms have also recently weighed in on OTF. Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada decreased their price target on Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a report on Monday, May 18th. Truist Financial dropped 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 research note on Tuesday, May 19th. 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, May 12th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Blue Owl Technology Finance in a report on Friday. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.60.

Blue Owl Technology Finance Stock Performance

Shares of Blue Owl Technology Finance stock opened at $11.73 on Friday. The company has a market capitalization of $5.43 billion, a P/E ratio of 14.66 and a beta of -0.86. Blue Owl Technology Finance has a 1 year low of $9.75 and a 1 year high of $15.82. The company’s fifty day moving average is $10.55 and its two-hundred day moving average is $11.45.

Blue Owl Technology Finance (NYSE:OTF) last announced its earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. The business had revenue of $279.54 million during the quarter. During the same period in the previous year, the company posted $0.45 earnings per share. As a group, equities analysts expect that Blue Owl Technology Finance will post 1.26 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.35 dividend. The ex-dividend date is Wednesday, September 30th. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a yield of 11.9%. Blue Owl Technology Finance’s dividend payout ratio (DPR) is currently 175.00%.

Insider Buying and Selling at Blue Owl Technology Finance

In related news, Director Chris Temple bought 7,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $10.71 per share, for a total transaction of $74,970.00. Following the transaction, the director owned 12,000 shares of the company’s stock, valued at approximately $128,520. This trade represents a 140.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Melissa Weiler purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $10.90 per share, with a total value of $109,000.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $109,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 18,000 shares of company stock worth $194,710 over the last 90 days. Insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Blue Owl Technology Finance

A number of hedge funds and other institutional investors have recently modified their holdings of OTF. Apollon Wealth Management LLC increased its stake in Blue Owl Technology Finance by 260.2% in the 4th quarter. Apollon Wealth Management LLC now owns 72,751 shares of the company’s stock valued at $1,058,000 after purchasing an additional 52,551 shares in the last quarter. Diversify Advisory Services LLC boosted its position in Blue Owl Technology Finance by 79.3% during the fourth quarter. Diversify Advisory Services LLC now owns 75,188 shares of the company’s stock worth $1,064,000 after purchasing an additional 33,263 shares in the last quarter. Choreo LLC boosted its position in Blue Owl Technology Finance by 142.1% during the fourth quarter. Choreo LLC now owns 53,699 shares of the company’s stock worth $787,000 after purchasing an additional 31,515 shares in the last quarter. PFG Investments LLC acquired a new stake in Blue Owl Technology Finance in the fourth quarter valued at $170,000. Finally, CWM LLC grew its holdings in Blue Owl Technology Finance by 177.1% in the fourth quarter. CWM LLC now owns 92,208 shares of the company’s stock valued at $1,341,000 after purchasing an additional 58,935 shares during the last quarter.

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.