TT Capital Management LLC Purchases 74,700 Shares of Blue Owl Technology Finance Corp. $OTF

TT Capital Management LLC lifted its position in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) by 92.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,800 shares of the company’s stock after purchasing an additional 74,700 shares during the period. Blue Owl Technology Finance accounts for approximately 0.8% of TT Capital Management LLC’s portfolio, making the stock its 26th largest position. TT Capital Management LLC’s holdings in Blue Owl Technology Finance were worth $1,528,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. California State Teachers Retirement System purchased a new position in shares of Blue Owl Technology Finance during the first quarter valued at approximately $250,556,000. Laura & John Arnold Foundation purchased a new stake in Blue Owl Technology Finance in the second quarter worth $12,420,000. Bank of America Corp DE lifted its stake in Blue Owl Technology Finance by 54.5% in the first quarter. Bank of America Corp DE now owns 1,098,349 shares of the company’s stock worth $13,609,000 after acquiring an additional 387,404 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Blue Owl Technology Finance by 34.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 624,044 shares of the company’s stock valued at $9,074,000 after acquiring an additional 159,060 shares in the last quarter. Finally, Diversify Wealth Management LLC boosted its holdings in Blue Owl Technology Finance by 871.9% in the first quarter. Diversify Wealth Management LLC now owns 155,697 shares of the company’s stock valued at $1,929,000 after acquiring an additional 139,677 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $12.00 target price on shares of Blue Owl Technology Finance in a research note on Monday, August 17th. Citigroup reissued an “outperform” rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th. Finally, Citizens Jmp raised their target price on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Four 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.60.

Blue Owl Technology Finance Stock Performance

Shares of Blue Owl Technology Finance stock traded up $0.32 during trading on Thursday, hitting $9.46. The company’s stock had a trading volume of 1,241,228 shares, compared to its average volume of 2,288,201. Blue Owl Technology Finance Corp. has a 52 week low of $9.06 and a 52 week high of $15.00. The company has a market capitalization of $4.34 billion, a PE ratio of 11.84 and a beta of -0.58. The company has a fifty day simple moving average of $10.68 and a two-hundred day simple moving average of $10.82.

Blue Owl Technology Finance (NYSE:OTF) last announced its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. The business had revenue of $338.03 million during the quarter. During the same period in the prior year, the business posted $0.45 EPS. As a group, analysts predict that Blue Owl Technology Finance Corp. will post 1.25 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 14.8%. 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 Wednesday, September 30th. Blue Owl Technology Finance’s dividend payout ratio is presently 175.00%.

Blue Owl Technology Finance Profile

Blue Owl Technology Finance Corp. (NYSE: OTF) is a business development company focused on providing financing to technology-related businesses. The company invests primarily in privately owned, middle-market companies that may require capital to support growth, acquisitions, recapitalizations, or other corporate activities.

Its investment portfolio generally consists of senior secured loans and other debt investments, with the potential for equity and equity-related investments. Blue Owl Technology Finance seeks to generate current income and, to a lesser extent, capital appreciation by investing across segments of the technology sector, including software, technology services, and other technology-enabled businesses.

The company is externally managed by an affiliate of Blue Owl Capital Inc, an alternative asset management firm.