Blue Owl Technology Finance (NYSE:OTF) Price Target Cut to $13.00 by Analysts at Keefe, Bruyette & Woods

Blue Owl Technology Finance (NYSE:OTF) had its target price decreased by Keefe, Bruyette & Woods from $16.00 to $13.00 in a report published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Other analysts have also recently issued research reports about the company. Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Truist Financial cut their target price on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company reduced their target price on shares of Blue Owl Technology Finance from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Friday. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Blue Owl Technology Finance Stock Down 3.5%

NYSE:OTF opened at $11.21 on Monday. Blue Owl Technology Finance has a 1-year low of $10.99 and a 1-year high of $21.62. The stock has a market capitalization of $5.22 billion and a P/E ratio of 6.59.

Blue Owl Technology Finance (NYSE:OTF) last posted its earnings results on Wednesday, February 18th. The company reported $0.30 EPS 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 business had revenue of $320.58 million for the quarter, compared to analysts’ expectations of $326.27 million.

Blue Owl Technology Finance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 12.5%. The ex-dividend date is Tuesday, March 31st. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio (DPR) is currently 82.35%.

Blue Owl Technology Finance declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 18th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Blue Owl Technology Finance

Large investors have recently made changes to their positions in the stock. Apollon Wealth Management LLC lifted its holdings in shares of Blue Owl Technology Finance by 260.2% during the fourth quarter. Apollon Wealth Management LLC now owns 72,751 shares of the company’s stock worth $1,058,000 after purchasing an additional 52,551 shares during the period. Diversify Advisory Services LLC increased its holdings in Blue Owl Technology Finance by 79.3% in the 4th quarter. Diversify Advisory Services LLC now owns 75,188 shares of the company’s stock worth $1,064,000 after buying an additional 33,263 shares during the period. Leo Wealth LLC purchased a new position in Blue Owl Technology Finance during the 4th quarter worth approximately $202,000. Cornerstone Partners Capital Management LLC purchased a new position in Blue Owl Technology Finance during the 4th quarter worth approximately $146,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Blue Owl Technology Finance during the 4th quarter valued at approximately $44,000.

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.