Blue Owl Technology Finance Corp. $OTF Shares Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC boosted its holdings in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) by 182.8% during the 1st quarter, HoldingsChannel reports. The firm owned 80,140 shares of the company’s stock after purchasing an additional 51,801 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Blue Owl Technology Finance were worth $1,025,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of OTF. Orange County Employees Retirement System purchased a new position in shares of Blue Owl Technology Finance during the fourth quarter worth about $116,497,000. Rockefeller Capital Management L.P. grew its stake in shares of 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 valued at $9,074,000 after purchasing an additional 159,060 shares during the last quarter. 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 valued at $10,078,000 after purchasing an additional 394,895 shares during the last quarter. Stephens Inc. AR acquired a new position in shares of Blue Owl Technology Finance in the fourth quarter valued at approximately $8,220,000. Finally, Caz Investments LP increased its holdings in shares of Blue Owl Technology Finance by 72.2% in the fourth quarter. Caz Investments LP now owns 1,159,339 shares of the company’s stock valued at $16,857,000 after purchasing an additional 486,172 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on OTF shares. Truist Financial decreased their price target on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Citizens Jmp lowered their target price on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Zacks Research upgraded shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note 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 for the company in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada reduced their price objective on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a research report on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.40.

Insider Transactions at Blue Owl Technology Finance

In related news, Director Melissa Weiler bought 10,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $10.90 per share, with a total value of $109,000.00. Following the completion of the acquisition, the director owned 10,000 shares in the company, valued at approximately $109,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Chris Temple purchased 7,000 shares of Blue Owl Technology Finance stock in a transaction dated Friday, May 22nd. The shares were bought at an average price 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 trade represents a 140.00% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 18,000 shares of company stock worth $194,710. 0.05% of the stock is owned by insiders.

Blue Owl Technology Finance Price Performance

Shares of OTF stock opened at $10.35 on Tuesday. The business’s fifty day simple moving average is $10.89. The firm has a market capitalization of $4.79 billion and a price-to-earnings ratio of 8.24. Blue Owl Technology Finance Corp. has a 1-year low of $10.13 and a 1-year high of $15.82.

Blue Owl Technology Finance (NYSE:OTF) last released its 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 net margin of 32.78% and a return on equity of 7.43%. During the same period in the prior year, the business posted $0.41 earnings per share. On average, equities research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 13.5%. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, June 30th. Blue Owl Technology Finance’s dividend payout ratio (DPR) is 155.56%.

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.