Caz Investments LP Buys 486,172 Shares of Blue Owl Technology Finance Corp. $OTF

Caz Investments LP increased its stake in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) by 72.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,159,339 shares of the company’s stock after buying an additional 486,172 shares during the quarter. Blue Owl Technology Finance accounts for about 29.2% of Caz Investments LP’s investment portfolio, making the stock its largest holding. Caz Investments LP’s holdings in Blue Owl Technology Finance were worth $16,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. NewEdge Wealth LLC grew its position in Blue Owl Technology Finance by 3.3% during the fourth quarter. NewEdge Wealth LLC now owns 69,925 shares of the company’s stock worth $1,017,000 after buying an additional 2,218 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Blue Owl Technology Finance during the fourth quarter worth approximately $44,000. Clearstead Advisors LLC acquired a new stake in Blue Owl Technology Finance during the fourth quarter worth approximately $124,000. Cornerstone Partners Capital Management LLC acquired a new stake in Blue Owl Technology Finance during the fourth quarter worth approximately $146,000. Finally, QP Wealth Management LLC bought a new stake in Blue Owl Technology Finance during the fourth quarter worth $168,000.

Insider Buying and Selling at Blue Owl Technology Finance

In other Blue Owl Technology Finance news, Director Melissa Weiler acquired 10,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $10.90 per share, with a total value of $109,000.00. Following the transaction, the director owned 10,000 shares in the company, valued at approximately $109,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Chris Temple acquired 7,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $10.71 per share, with a total value of $74,970.00. Following the completion of the transaction, the director owned 12,000 shares in the company, valued at approximately $128,520. This represents a 140.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 18,000 shares of company stock valued at $194,710. 0.05% of the stock is owned by corporate insiders.

Blue Owl Technology Finance Stock Performance

Shares of NYSE:OTF opened at $11.16 on Monday. The company has a market cap of $5.16 billion and a price-to-earnings ratio of 12.40. Blue Owl Technology Finance Corp. has a 12-month low of $10.48 and a 12-month high of $21.62. The stock’s fifty day moving average is $11.45.

Blue Owl Technology Finance (NYSE:OTF) last announced its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The company had revenue of $222.12 million for the quarter. Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.During the same period in the prior year, the company posted $0.41 earnings per share. On average, equities analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current fiscal year.

Blue Owl Technology Finance declared that its board has authorized a stock buyback program on Wednesday, February 18th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to purchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Blue Owl Technology Finance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 annualized dividend and a yield of 12.5%. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio is 155.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Royal Bank Of Canada cut their target price on Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Monday, May 18th. Keefe, Bruyette & Woods cut their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Tuesday, May 12th. Citizens Jmp cut their target price on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, Truist Financial cut their target price on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.40.

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.