Blue Trust Inc. Has $1.85 Million Stock Position in Blue Owl Technology Finance Corp. $OTF

Blue Trust Inc. increased its stake in Blue Owl Technology Finance Corp. (NYSE:OTF) by 141.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,897 shares of the company’s stock after purchasing an additional 74,370 shares during the quarter. Blue Trust Inc.’s holdings in Blue Owl Technology Finance were worth $1,845,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. QP Wealth Management LLC purchased a new position in shares of Blue Owl Technology Finance in the fourth quarter worth approximately $168,000. Norden Group LLC purchased a new stake in shares of Blue Owl Technology Finance in the 4th quarter valued at approximately $169,000. TrueMark Investments LLC acquired a new position in Blue Owl Technology Finance in the 4th quarter worth approximately $654,000. Generali Investments CEE investicni spolecnost a.s. grew its position in Blue Owl Technology Finance by 121.0% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 48,426 shares of the company’s stock worth $704,000 after purchasing an additional 26,510 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Blue Owl Technology Finance by 137.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,992 shares of the company’s stock worth $1,044,000 after purchasing an additional 42,888 shares in the last quarter.

Blue Owl Technology Finance Price Performance

NYSE OTF opened at $11.50 on Friday. The firm has a market capitalization of $5.35 billion and a PE ratio of 6.77. Blue Owl Technology Finance Corp. has a 12-month low of $10.91 and a 12-month high of $21.62. The company has a 50 day simple moving average of $12.32.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). Blue Owl Technology Finance had a return on equity of 6.91% and a net margin of 62.89%.The business had revenue of $223.52 million for the quarter, compared to analyst estimates of $326.27 million.

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

Blue Owl Technology Finance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 12.2%. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, March 31st. Blue Owl Technology Finance’s dividend payout ratio is 82.35%.

Insiders Place Their Bets

In related news, Director Chris Temple purchased 5,000 shares of Blue Owl Technology Finance stock in a transaction on Wednesday, February 25th. The stock was bought at an average price of $11.49 per share, with a total value of $57,450.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $57,450. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

OTF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on Blue Owl Technology Finance from $16.00 to $13.00 and set a “market perform” rating for the company in a report on Monday, February 23rd. Truist Financial reduced their price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Wells Fargo & Company decreased their price objective on Blue Owl Technology Finance from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Finally, Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.00.

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.