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

Blue Trust Inc. lifted its stake in Blue Owl Technology Finance Corp. (NYSE:OTF) by 85.0% during the 1st quarter, according to the company in its most recent disclosure 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 period. Blue Trust Inc. owned approximately 0.05% of Blue Owl Technology Finance worth $2,909,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tranquility Partners LLC boosted its holdings in Blue Owl Technology Finance by 86.4% during the 1st quarter. Tranquility Partners LLC now owns 26,910 shares of the company’s stock valued at $333,000 after acquiring an additional 12,471 shares during the period. Rockefeller Capital Management L.P. increased its stake in Blue Owl Technology Finance by 34.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 624,044 shares of the company’s stock worth $9,074,000 after purchasing an additional 159,060 shares during the period. World Investment Advisors increased its stake in Blue Owl Technology Finance by 51.4% in the 4th quarter. World Investment Advisors now owns 137,343 shares of the company’s stock worth $1,997,000 after purchasing an additional 46,655 shares during the period. Corient Private Wealth LLC bought a new stake in Blue Owl Technology Finance in the fourth quarter valued at approximately $170,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Blue Owl Technology Finance in the fourth quarter valued at approximately $389,000.

Insider Activity

In related news, Director Chris Temple bought 7,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was purchased 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 approximately $128,520. This trade represents a 140.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Melissa Weiler purchased 10,000 shares of Blue Owl Technology Finance 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 transaction, the director directly owned 10,000 shares of the company’s stock, valued at $109,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 18,000 shares of company stock valued at $194,710. Corporate insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

OTF has been the topic of several recent analyst reports. Royal Bank Of Canada cut their target price on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Monday, May 18th. Citizens Jmp lowered their price target on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. 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. Keefe, Bruyette & Woods cut 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 report on Tuesday, May 12th. Finally, Truist Financial decreased their price objective on shares of Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Blue Owl Technology Finance presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.40.

Blue Owl Technology Finance Stock Down 2.3%

OTF opened at $10.24 on Thursday. Blue Owl Technology Finance Corp. has a 52-week low of $10.16 and a 52-week high of $16.10. The stock has a market capitalization of $4.74 billion and a PE ratio of 11.38. The company’s 50 day simple moving average is $11.10.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The business had revenue of $222.12 million during 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 last year, the firm earned $0.41 earnings per share. As a group, analysts forecast that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

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

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.