Blue Trust Inc. Purchases 74,370 Shares of Blue Owl Technology Finance Corp. $OTF

Blue Trust Inc. increased its position in Blue Owl Technology Finance Corp. (NYSE:OTF) by 141.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 126,897 shares of the company’s stock after buying an additional 74,370 shares during the period. Blue Trust Inc.’s holdings in Blue Owl Technology Finance were worth $1,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. QP Wealth Management LLC bought a new stake in Blue Owl Technology Finance during the fourth quarter valued at about $168,000. Wealth Enhancement Advisory Services LLC increased its stake 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 period. Norden Group LLC bought a new position in shares of Blue Owl Technology Finance in the fourth quarter worth about $169,000. Pallas Capital Advisors LLC lifted its position in shares of Blue Owl Technology Finance by 642.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock worth $1,243,000 after purchasing an additional 73,966 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. boosted its stake in Blue Owl Technology Finance by 121.0% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 48,426 shares of the company’s stock valued at $704,000 after purchasing an additional 26,510 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Truist Financial lowered their target price on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Keefe, Bruyette & Woods lowered 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 note on Monday, February 23rd. Finally, Wells Fargo & Company dropped 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 report on Friday, February 20th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $14.00.

Insider Activity at Blue Owl Technology Finance

In other news, Director Chris Temple bought 5,000 shares of Blue Owl Technology Finance stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $11.49 per share, with a total value of $57,450.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at $57,450. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Blue Owl Technology Finance Trading Down 1.2%

NYSE OTF opened at $11.50 on Friday. Blue Owl Technology Finance Corp. has a twelve month low of $10.91 and a twelve month high of $21.62. The company has a market capitalization of $5.35 billion and a PE ratio of 6.77. The company has a 50-day moving average of $12.32.

Blue Owl Technology Finance (NYSE:OTF) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $326.27 million.

Blue Owl Technology Finance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.35 dividend. 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.2%. Blue Owl Technology Finance’s dividend payout ratio is currently 82.35%.

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

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.