Blue Owl Technology Finance (NYSE:OTF) Sets New 52-Week Low – Should You Sell?

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citizens Jmp upped 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 reiterated an “outperform” rating on shares of Blue Owl Technology Finance in a research note on Friday, August 7th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $12.00 price target on shares of Blue Owl Technology Finance in a report on Monday, August 17th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.60.

Blue Owl Technology Finance Price Performance

The stock’s 50-day moving average is $10.48 and its two-hundred day moving average is $10.73. The stock has a market cap of $4.08 billion, a P/E ratio of 7.45 and a beta of -0.58.

Blue Owl Technology Finance (NYSE:OTF) last posted its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $338.03 million during 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 previous year, the business posted $0.45 earnings per share. On average, analysts anticipate that Blue Owl Technology Finance Corp. will post 1.25 EPS for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.35 per share. The ex-dividend date was 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 dividend on an annualized basis and a dividend yield of 15.7%. Blue Owl Technology Finance’s dividend payout ratio (DPR) is 175.00%.

Institutional Investors Weigh In On Blue Owl Technology Finance

Large investors have recently made changes to their positions in the company. Integrity Financial Corp WA bought a new stake in Blue Owl Technology Finance in the 2nd quarter worth approximately $123,000. Abel Hall LLC purchased a new stake in shares of Blue Owl Technology Finance during the 1st quarter worth approximately $124,000. Keybank National Association OH purchased a new stake in shares of Blue Owl Technology Finance during the 1st quarter worth approximately $148,000. Kestra Advisory Services LLC boosted its position in shares of Blue Owl Technology Finance by 39.1% during the 1st quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company’s stock valued at $152,000 after acquiring an additional 3,443 shares during the last quarter. Finally, Angeles Wealth Management LLC bought a new position in shares of Blue Owl Technology Finance during the 1st quarter valued at approximately $166,000.

Blue Owl Technology Finance Company Profile

Blue Owl Technology Finance (NYSE: OTF) is a business development company that provides financing to technology-related businesses. The company primarily invests in senior secured loans and other debt investments, with a focus on companies operating in technology and technology-enabled industries.

Its portfolio may also include subordinated debt, equity investments and other securities, allowing it to support businesses at various stages of development. Blue Owl Technology Finance generally works with private, middle-market companies seeking capital for growth, acquisitions, recapitalizations and other corporate purposes.

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