Callodine Capital Management LP Acquires New Position in Blue Owl Technology Finance Corp. $OTF

Callodine Capital Management LP acquired a new stake in Blue Owl Technology Finance Corp. (NYSE:OTF) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 175,000 shares of the company’s stock, valued at approximately $2,168,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. purchased a new position in shares of Blue Owl Technology Finance during the 4th quarter valued at $44,000. Clearstead Advisors LLC acquired a new position in shares of Blue Owl Technology Finance in the fourth quarter worth $124,000. Abel Hall LLC purchased a new stake in shares of Blue Owl Technology Finance during the first quarter worth $124,000. Kestra Advisory Services LLC purchased a new stake in shares of Blue Owl Technology Finance during the fourth quarter worth $128,000. Finally, Cornerstone Partners Capital Management LLC acquired a new stake in Blue Owl Technology Finance during the fourth quarter valued at $146,000.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank Of Canada lowered their target price on Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Monday, May 18th. Truist Financial cut their price target on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Citizens Jmp reduced their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods lowered 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, Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.40.

Insider Buying and Selling

In other news, Director Melissa Weiler purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average price of $10.90 per share, with a total value of $109,000.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at $109,000. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chris Temple acquired 7,000 shares of Blue Owl Technology Finance stock in a transaction dated Friday, May 22nd. The stock was purchased at an average price of $10.71 per share, with a total value of $74,970.00. Following the completion of the purchase, 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 position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 18,000 shares of company stock worth $194,710 over the last three months. 0.05% of the stock is owned by company insiders.

Blue Owl Technology Finance Trading Up 0.5%

Shares of NYSE:OTF opened at $9.97 on Friday. The stock has a market capitalization of $4.61 billion and a PE ratio of 11.08. Blue Owl Technology Finance Corp. has a 1 year low of $9.78 and a 1 year high of $15.82. The firm has a fifty day moving average price of $10.63 and a 200 day moving average price of $11.71.

Blue Owl Technology Finance (NYSE:OTF) last posted its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. The company had revenue of $222.12 million for the quarter. During the same quarter in the prior year, the business posted $0.41 EPS. On average, sell-side analysts forecast that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 14.0%. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s payout ratio is currently 155.56%.

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.