Blue Trust Inc. Purchases 107,886 Shares of Blue Owl Technology Finance Corp. $OTF

Blue Trust Inc. raised its position in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) by 85.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 234,783 shares of the company’s stock after buying an additional 107,886 shares during the quarter. Blue Trust Inc.’s holdings in Blue Owl Technology Finance were worth $2,909,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Orange County Employees Retirement System bought a new stake in shares of Blue Owl Technology Finance in the 4th quarter worth approximately $116,497,000. Requisite Capital Management LLC grew its stake in shares of Blue Owl Technology Finance by 141.2% in the 4th quarter. Requisite Capital Management LLC now owns 674,624 shares of the company’s stock worth $10,078,000 after buying an additional 394,895 shares during the last quarter. Bayshore Capital Advisors LLC bought a new position in Blue Owl Technology Finance during the 4th quarter valued at approximately $2,220,000. Stephens Inc. AR bought a new position in Blue Owl Technology Finance during the 4th quarter valued at approximately $8,220,000. Finally, Caz Investments LP raised its stake in Blue Owl Technology Finance by 72.2% during the fourth quarter. Caz Investments LP now owns 1,159,339 shares of the company’s stock valued at $16,857,000 after buying an additional 486,172 shares during the last quarter.

Blue Owl Technology Finance Stock Performance

Shares of NYSE:OTF opened at $10.24 on Thursday. Blue Owl Technology Finance Corp. has a 1 year low of $10.16 and a 1 year high of $16.10. The company has a market capitalization of $4.74 billion and a P/E ratio of 11.38. The firm’s fifty day simple moving average is $11.10.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.The business had revenue of $222.12 million during the quarter. During the same period last year, the firm earned $0.41 EPS. On average, sell-side analysts expect that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.35 dividend. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.7%. The ex-dividend date is Tuesday, June 30th. Blue Owl Technology Finance’s dividend payout ratio (DPR) is presently 155.56%.

Insider Buying and Selling

In related news, Director Melissa Weiler bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the acquisition, the director owned 10,000 shares of the company’s stock, valued at $109,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Chris Temple bought 7,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $10.71 per share, with a total value of $74,970.00. Following the transaction, the director owned 12,000 shares in the company, valued at $128,520. This trade represents a 140.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 18,000 shares of company stock valued at $194,710 over the last quarter. Company insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Truist Financial dropped their target price on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Wells Fargo & Company lowered their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Keefe, Bruyette & Woods dropped their price target on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 12th. Zacks Research raised shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Royal Bank Of Canada cut their price objective on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.40.

Blue Owl Technology Finance 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.