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

Key Points

• Citizens Jmp cut its price target for Blue Owl Technology Finance from $17 to $16 while keeping a "market outperform" rating, implying roughly a 38.6% upside from the stock's current level; the consensus price target across analysts is $14.50 with an average rating of "Moderate Buy."
• Blue Owl missed quarterly expectations, reporting $0.30 EPS versus a $0.32 consensus and revenue of $223.5M versus $326.3M expected; the stock opened at $11.54 and trades at a PE of about 6.8.
• The company's board authorized a $300M share buyback (up to 5.1% of outstanding shares), while insiders and several hedge funds have recently increased positions, signaling management and institutional buying interest.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) had its price objective decreased by investment analysts at Citizens Jmp from $17.00 to $16.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's price objective suggests a potential upside of 38.62% from the stock's current price.

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

Blue Owl Technology Finance Price Performance

OTF stock opened at $11.54 on Wednesday. The company has a 50-day moving average price of $11.96. Blue Owl Technology Finance has a 12-month low of $10.87 and a 12-month high of $21.62. The stock has a market capitalization of $5.33 billion and a PE ratio of 6.79.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.30 earnings per share (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 firm had revenue of $223.52 million during the quarter, compared to analysts' expectations of $326.27 million. On average, research analysts expect that Blue Owl Technology Finance will post 1.33 EPS for the current fiscal year.

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

Insider Buying and Selling at Blue Owl Technology Finance

In other Blue Owl Technology Finance news, Director Chris Temple acquired 5,000 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $11.49 per share, with a total value of $57,450.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company's stock, valued at approximately $57,450. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.05% of the company's stock.

Institutional Investors Weigh In On Blue Owl Technology Finance

Hedge funds have recently bought and sold shares of the business. Pallas Capital Advisors LLC boosted its stake in Blue Owl Technology Finance by 642.4% during the fourth 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 in the last quarter. Apollon Wealth Management LLC lifted its stake in shares of Blue Owl Technology Finance by 260.2% in the fourth quarter. Apollon Wealth Management LLC now owns 72,751 shares of the company's stock worth $1,058,000 after buying an additional 52,551 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Blue Owl Technology Finance by 141.6% during the fourth quarter. Blue Trust Inc. now owns 126,897 shares of the company's stock valued at $1,845,000 after buying an additional 74,370 shares during the last quarter. TrueMark Investments LLC bought a new stake in shares of Blue Owl Technology Finance during the fourth quarter valued at approximately $654,000. Finally, Diversify Advisory Services LLC raised 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 acquiring an additional 33,263 shares during the last quarter.

About Blue Owl Technology Finance

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.

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