Citizens Jmp Lowers Blue Owl Technology Finance (NYSE:OTF) Price Target to $16.00

Blue Owl Technology Finance (NYSE:OTF) had its price objective reduced by analysts at Citizens Jmp from $17.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price objective points to a potential upside of 38.62% from the stock’s previous close.

A number of other brokerages have also recently issued reports on OTF. Zacks Research raised shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods reduced their price objective on shares of 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 reduced their price objective on shares of 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. Finally, Truist Financial reduced their price objective on shares of 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. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Blue Owl Technology Finance presently has an average rating of “Moderate Buy” and an average price target of $14.50.

Blue Owl Technology Finance Price Performance

Shares of OTF stock opened at $11.54 on Wednesday. The business has a 50 day moving average of $11.96. Blue Owl Technology Finance has a 52 week low of $10.87 and a 52 week high of $21.62. The company has a market capitalization of $5.33 billion and a price-to-earnings ratio of 6.79.

Blue Owl Technology Finance (NYSE:OTF) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The company had revenue of $223.52 million for the quarter, compared to the consensus estimate of $326.27 million. Blue Owl Technology Finance had a net margin of 62.89% and a return on equity of 6.91%. Sell-side analysts forecast that Blue Owl Technology Finance will post 1.33 EPS for the current year.

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

Insider Activity

In other news, Director Chris Temple acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average price of $11.49 per share, with a total value of $57,450.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $57,450. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Blue Owl Technology Finance in the 4th quarter worth approximately $44,000. Clearstead Advisors LLC purchased a new position in shares of Blue Owl Technology Finance in the 4th quarter worth approximately $124,000. Kestra Advisory Services LLC acquired a new stake in Blue Owl Technology Finance in the 4th quarter worth approximately $128,000. Cornerstone Partners Capital Management LLC acquired a new stake in Blue Owl Technology Finance in the 4th quarter worth approximately $146,000. Finally, Onyx Bridge Wealth Group LLC acquired a new stake in Blue Owl Technology Finance in the 4th quarter worth approximately $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.