Blue Owl Technology Finance Corp. (NYSE:OTF) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of Blue Owl Technology Finance Corp. (NYSE:OTF) have been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $13.60.

Several research analysts have recently weighed in on OTF shares. Citigroup restated an “outperform” rating on shares of Blue Owl Technology Finance in a report on Friday, August 7th. 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 report on Friday, August 7th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $12.00 price target on shares of Blue Owl Technology Finance in a report on Monday, August 17th.

Institutional Trading of Blue Owl Technology Finance

Large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System acquired a new stake in shares of Blue Owl Technology Finance in the 1st quarter worth $250,556,000. Rivernorth Capital Management LLC raised its holdings in shares of Blue Owl Technology Finance by 12.5% during the 1st quarter. Rivernorth Capital Management LLC now owns 2,176,269 shares of the company’s stock worth $26,964,000 after acquiring an additional 241,543 shares during the period. Requisite Capital Management LLC boosted its position in shares of 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 valued at $20,267,000 after acquiring an additional 635,531 shares during the last quarter. Laura & John Arnold Foundation acquired a new position in shares of Blue Owl Technology Finance during the 2nd quarter valued at about $12,420,000. Finally, Wellington Management Group LLP acquired a new position in shares of Blue Owl Technology Finance during the 2nd quarter valued at about $11,666,000.

Blue Owl Technology Finance Trading Down 0.7%

OTF opened at $8.84 on Thursday. Blue Owl Technology Finance has a twelve month low of $8.76 and a twelve month high of $15.00. The firm has a market capitalization of $4.05 billion, a PE ratio of 7.36 and a beta of -0.58. The firm’s 50-day moving average price is $10.43 and its 200 day moving average price is $10.71.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly earnings data 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 company had revenue of $338.03 million during the quarter. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, analysts predict that Blue Owl Technology Finance will post 1.25 earnings per share for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The business also recently disclosed 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 15.8%. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Wednesday, September 30th. Blue Owl Technology Finance’s dividend payout ratio is presently 175.00%.

About Blue Owl Technology Finance

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.