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

TT Capital Management LLC boosted its holdings in Blue Owl Technology Finance Corp. (NYSE:OTF) by 92.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 155,800 shares of the company’s stock after buying an additional 74,700 shares during the period. Blue Owl Technology Finance makes up 0.8% of TT Capital Management LLC’s investment portfolio, making the stock its 26th largest position. TT Capital Management LLC’s holdings in Blue Owl Technology Finance were worth $1,528,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. California State Teachers Retirement System purchased a new stake in shares of Blue Owl Technology Finance during the first quarter valued at $250,556,000. Laura & John Arnold Foundation purchased a new position in Blue Owl Technology Finance in the 2nd quarter worth about $12,420,000. Bank of America Corp DE lifted its stake in Blue Owl Technology Finance by 54.5% during the 1st quarter. Bank of America Corp DE now owns 1,098,349 shares of the company’s stock valued at $13,609,000 after acquiring an additional 387,404 shares during the period. Rockefeller Capital Management L.P. lifted its stake in Blue Owl Technology Finance by 34.2% during the 4th 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 during the period. Finally, Diversify Wealth Management LLC lifted its stake in Blue Owl Technology Finance by 871.9% during the 1st 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 during the period.

Blue Owl Technology Finance Price Performance

Shares of NYSE:OTF 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. The company has a 50-day moving average of $10.68 and a 200-day moving average of $10.82. Blue Owl Technology Finance Corp. has a 12 month low of $9.06 and a 12 month high of $15.00. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 11.84 and a beta of -0.58.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm had revenue of $338.03 million during the quarter. Blue Owl Technology Finance had a return on equity of 7.17% and a net margin of 28.69%. During the same quarter last year, the company earned $0.45 earnings per share. As a group, research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.25 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.35 per share. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a yield of 14.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Blue Owl Technology Finance’s dividend payout ratio is presently 175.00%.

Analyst Upgrades and Downgrades

OTF has been the subject of several research reports. Citigroup reissued an “outperform” rating on shares of Blue Owl Technology Finance in a report on Friday, August 7th. Citizens Jmp lifted their price objective on Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $12.00 price objective on shares of Blue Owl Technology Finance in a research report on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.60.

Blue Owl Technology Finance Company 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.