Blue Owl Technology Finance (NYSE:OTF) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Blue Owl Technology Finance (NYSE:OTF) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Blue Owl Technology Finance Stock Performance

Shares of NYSE:OTF remained flat at $13.45 during midday trading on Monday. The company had a trading volume of 641,390 shares, compared to its average volume of 1,310,373. The company has a market cap of $6.30 billion and a price-to-earnings ratio of 7.73. Blue Owl Technology Finance has a 12 month low of $12.89 and a 12 month high of $21.62.

Institutional Trading of Blue Owl Technology Finance

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pallas Capital Advisors LLC increased its stake in Blue Owl Technology Finance by 642.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock worth $1,243,000 after acquiring an additional 73,966 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Blue Owl Technology Finance by 137.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,992 shares of the company’s stock worth $1,044,000 after purchasing an additional 42,888 shares during the last quarter. Diversify Advisory Services LLC raised its stake in Blue Owl Technology Finance by 79.3% in the fourth quarter. Diversify Advisory Services LLC now owns 75,188 shares of the company’s stock valued at $1,064,000 after purchasing an additional 33,263 shares in the last quarter. Choreo LLC lifted 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 valued at $787,000 after purchasing an additional 31,515 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. grew its stake in Blue Owl Technology Finance by 121.0% in the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 48,426 shares of the company’s stock worth $704,000 after buying an additional 26,510 shares in the last quarter.

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.