Citizens Jmp Has Lowered Expectations for Blue Owl Technology Finance (NYSE:OTF) Stock Price

Blue Owl Technology Finance (NYSE:OTF) had its target price reduced by Citizens Jmp from $17.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price target would indicate a potential upside of 43.81% from the stock’s current price.

Several other research analysts also recently commented on OTF. Keefe, Bruyette & Woods cut their target price on Blue Owl Technology Finance from $16.00 to $13.00 and set a “market perform” rating for the company in a research note on Monday, February 23rd. Wells Fargo & Company cut their target price on Blue Owl Technology Finance from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Truist Financial cut their target price on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Finally, Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Blue Owl Technology Finance Trading Down 3.6%

Shares of NYSE OTF opened at $11.13 on Wednesday. Blue Owl Technology Finance has a 52 week low of $10.87 and a 52 week high of $21.62. The business has a 50-day moving average of $11.90. The company has a market cap of $5.14 billion and a P/E ratio of 6.54.

Blue Owl Technology Finance (NYSE:OTF) last issued its earnings results on Wednesday, February 18th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). Blue Owl Technology Finance had a return on equity of 6.91% and a net margin of 62.89%.The company had revenue of $223.52 million during the quarter, compared to the consensus estimate of $326.27 million. On average, equities research analysts predict that Blue Owl Technology Finance will post 1.31 EPS for the current fiscal year.

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

Insider Buying and Selling at Blue Owl Technology Finance

In other news, Director Chris Temple acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average cost of $11.49 per share, with a total value of $57,450.00. Following the acquisition, the director owned 5,000 shares in the company, valued at approximately $57,450. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Blue Owl Technology Finance

Large investors have recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Blue Owl Technology Finance during the 4th quarter valued at about $44,000. Clearstead Advisors LLC purchased a new position in shares of Blue Owl Technology Finance during the 4th quarter valued at about $124,000. Kestra Advisory Services LLC purchased a new position in shares of Blue Owl Technology Finance during the 4th quarter valued at about $128,000. Cornerstone Partners Capital Management LLC purchased a new position in shares of Blue Owl Technology Finance during the 4th quarter valued at about $146,000. Finally, Onyx Bridge Wealth Group LLC purchased a new position in shares of Blue Owl Technology Finance during the 4th quarter valued at about $150,000.

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.