Blue Owl Technology Finance Corp. $OTF Shares Bought by World Investment Advisors

World Investment Advisors raised its position in Blue Owl Technology Finance Corp. (NYSE:OTF) by 51.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 137,343 shares of the company’s stock after acquiring an additional 46,655 shares during the quarter. World Investment Advisors’ holdings in Blue Owl Technology Finance were worth $1,997,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Apollon Wealth Management LLC boosted its holdings in Blue Owl Technology Finance by 260.2% in the 4th quarter. Apollon Wealth Management LLC now owns 72,751 shares of the company’s stock worth $1,058,000 after buying an additional 52,551 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in Blue Owl Technology Finance by 642.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock worth $1,243,000 after buying an additional 73,966 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of Blue Owl Technology Finance during the 4th quarter worth approximately $1,576,000. Sanctuary Advisors LLC boosted its holdings in shares of Blue Owl Technology Finance by 195.4% during the 4th quarter. Sanctuary Advisors LLC now owns 149,377 shares of the company’s stock worth $2,172,000 after purchasing an additional 98,812 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Blue Owl Technology Finance by 141.6% during the 4th quarter. Blue Trust Inc. now owns 126,897 shares of the company’s stock worth $1,845,000 after purchasing an additional 74,370 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Zacks Research cut Blue Owl Technology Finance from a “hold” rating to a “strong sell” rating in a report on Tuesday. Citizens Jmp lowered their target price on 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. Keefe, Bruyette & Woods lowered their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Tuesday. Finally, Truist Financial lowered their target price on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.00.

Blue Owl Technology Finance Trading Down 0.2%

OTF stock opened at $11.14 on Friday. The stock has a market cap of $5.15 billion and a price-to-earnings ratio of 12.38. The firm’s 50 day moving average price is $11.67. Blue Owl Technology Finance Corp. has a one year low of $10.67 and a one year high of $21.62.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). The firm had revenue of $325.94 million for the quarter. Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, sell-side analysts forecast that Blue Owl Technology Finance Corp. will post 1.29 EPS for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 12.6%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio is presently 155.56%.

Blue Owl Technology Finance announced that its board has approved a stock buyback plan on Wednesday, February 18th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at Blue Owl Technology Finance

In other news, Director Melissa Weiler purchased 10,000 shares of Blue Owl Technology Finance stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price 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 $109,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Chris Temple purchased 5,000 shares of Blue Owl Technology Finance stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately $57,450. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 17,000 shares of company stock worth $188,630. Corporate insiders own 0.05% of the company’s stock.

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.