NewEdge Advisors LLC Has $785,000 Stock Position in Blue Owl Technology Finance Corp. $OTF

NewEdge Advisors LLC grew its position in Blue Owl Technology Finance Corp. (NYSE:OTF) by 271.1% in the first quarter, Holdings Channel.com reports. The fund owned 63,378 shares of the company’s stock after buying an additional 46,300 shares during the period. NewEdge Advisors LLC’s holdings in Blue Owl Technology Finance were worth $785,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System acquired a new position in shares of Blue Owl Technology Finance in the first quarter valued at $250,556,000. Orange County Employees Retirement System acquired a new stake in Blue Owl Technology Finance during the fourth quarter worth $116,497,000. Rockefeller Capital Management L.P. increased its holdings 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 valued at $9,074,000 after buying an additional 159,060 shares during the period. Diversify Wealth Management LLC increased its holdings in Blue Owl Technology Finance by 871.9% in the 1st quarter. Diversify Wealth Management LLC now owns 155,697 shares of the company’s stock valued at $1,929,000 after buying an additional 139,677 shares during the period. Finally, Caz Investments LP raised its stake in shares of Blue Owl Technology Finance by 72.2% in the 4th quarter. Caz Investments LP now owns 1,159,339 shares of the company’s stock valued at $16,857,000 after buying an additional 486,172 shares in the last quarter.

Blue Owl Technology Finance Stock Performance

OTF opened at $11.18 on Thursday. The firm’s 50-day simple moving average is $10.58 and its 200-day simple moving average is $11.30. Blue Owl Technology Finance Corp. has a twelve month low of $9.75 and a twelve month high of $15.82. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 13.97 and a beta of -0.86.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $279.54 million during the quarter. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. During the same period in the prior year, the business earned $0.45 earnings per share. As a group, sell-side analysts anticipate that Blue Owl Technology Finance Corp. will post 1.25 EPS for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.5%. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, September 30th. Blue Owl Technology Finance’s dividend payout ratio is presently 175.00%.

Insider Activity

In other Blue Owl Technology Finance news, Director Chris Temple bought 7,000 shares of Blue Owl Technology Finance stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $10.71 per share, with a total value of $74,970.00. Following the acquisition, the director directly owned 12,000 shares of the company’s stock, valued at $128,520. The trade was a 140.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

OTF has been the topic of several recent research reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $12.00 target price on shares of Blue Owl Technology Finance in a research report on Monday. 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 research note on Tuesday, May 12th. Citizens Jmp lifted their price objective on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Truist Financial lowered their price objective on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company cut their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.60.

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.