Closed End Fund Advisors Inc. Acquires Shares of 46,632 Blue Owl Technology Finance Corp. $OTF

Closed End Fund Advisors Inc. acquired a new stake in Blue Owl Technology Finance Corp. (NYSE:OTF) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 46,632 shares of the company’s stock, valued at approximately $678,000.

A number of other institutional investors also recently added to or reduced their stakes in OTF. Orange County Employees Retirement System purchased a new stake in Blue Owl Technology Finance in the 4th quarter valued at approximately $116,497,000. Stephens Inc. AR purchased a new stake in Blue Owl Technology Finance in the 4th quarter valued at approximately $8,220,000. Caz Investments LP boosted its stake in shares of Blue Owl Technology Finance by 72.2% during the 4th quarter. Caz Investments LP now owns 1,159,339 shares of the company’s stock worth $16,857,000 after acquiring an additional 486,172 shares in the last quarter. Requisite Capital Management LLC boosted its stake in shares of Blue Owl Technology Finance by 141.2% during the 4th quarter. Requisite Capital Management LLC now owns 674,624 shares of the company’s stock worth $10,078,000 after acquiring an additional 394,895 shares in the last quarter. Finally, Bayshore Capital Advisors LLC purchased a new stake in shares of Blue Owl Technology Finance during the 4th quarter worth approximately $2,220,000.

Insider Buying and Selling

In other Blue Owl Technology Finance news, Director Melissa Weiler purchased 10,000 shares of Blue Owl Technology Finance stock in a transaction on Wednesday, May 13th. The shares were purchased at an average cost of $10.90 per share, with a total value of $109,000.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at approximately $109,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chris Temple purchased 7,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average price of $10.71 per share, with a total value of $74,970.00. Following the completion of the acquisition, the director owned 12,000 shares in the company, valued at $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 acquired 18,000 shares of company stock worth $194,710. 0.05% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

OTF has been the topic of several research analyst reports. Zacks Research lowered Blue Owl Technology Finance from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada decreased their price target on Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Monday, May 18th. Citizens Jmp cut their price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Truist Financial cut 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. Finally, Keefe, Bruyette & Woods decreased their target price 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 report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.40.

Blue Owl Technology Finance Stock Down 1.7%

Shares of OTF opened at $11.30 on Friday. The stock has a market cap of $5.23 billion and a price-to-earnings ratio of 12.55. The business has a fifty day moving average price of $11.33. Blue Owl Technology Finance Corp. has a twelve month low of $10.48 and a twelve month high of $21.62.

Blue Owl Technology Finance (NYSE:OTF) last issued its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). The firm 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 quarter in the prior year, the business earned $0.41 earnings per share. On average, equities research analysts forecast that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current year.

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

Blue Owl Technology Finance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 12.4%. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, June 30th. Blue Owl Technology Finance’s dividend payout ratio is presently 155.56%.

Blue Owl Technology Finance Company 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.