Eric Kaye Acquires 1,000 Shares of Blue Owl Technology Finance (NYSE:OTF) Stock

Blue Owl Technology Finance Corp. (NYSE:OTF) Director Eric Kaye purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average price of $11.37 per share, for a total transaction of $11,370.00. Following the acquisition, the director directly owned 3,000 shares in the company, valued at $34,110. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Blue Owl Technology Finance Stock Down 0.6%

Shares of OTF opened at $11.61 on Wednesday. The company has a market cap of $5.32 billion, a PE ratio of 14.51 and a beta of -0.74. The business has a fifty day moving average of $10.66 and a 200 day moving average of $11.21. Blue Owl Technology Finance Corp. has a 52-week low of $9.75 and a 52-week high of $15.82.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings data 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 $279.54 million for the quarter. During the same quarter last year, the firm earned $0.45 EPS. As a group, research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.25 earnings per share for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.1%. 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 175.00%.

Analyst Ratings Changes

OTF has been the subject of several analyst reports. Citizens Jmp raised their price objective on shares of Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Truist Financial cut their target price 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. Citigroup reiterated an “outperform” rating on shares of Blue Owl Technology Finance in a report on Friday, August 7th. Keefe, Bruyette & Woods decreased their price target on 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. Finally, Wells Fargo & Company dropped their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.60.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Integrity Financial Corp WA purchased a new stake in Blue Owl Technology Finance in the 2nd quarter valued at about $123,000. Clearstead Advisors LLC purchased a new position in shares of Blue Owl Technology Finance during the fourth quarter worth approximately $124,000. Abel Hall LLC purchased a new position in shares of Blue Owl Technology Finance during the first quarter worth approximately $124,000. Kestra Advisory Services LLC bought a new stake in shares of Blue Owl Technology Finance during the fourth quarter valued at approximately $128,000. Finally, Keybank National Association OH bought a new stake in shares of Blue Owl Technology Finance during the first quarter valued at approximately $148,000.

About Blue Owl Technology Finance

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.