Closed End Fund Advisors Inc. Acquires Shares of 46,632 Blue Owl Technology Finance Corp. $OTF

Closed End Fund Advisors Inc. acquired a new stake in Blue Owl Technology Finance Corp. (NYSE:OTF) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,632 shares of the company’s stock, valued at approximately $678,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OTF. Orange County Employees Retirement System purchased a new position in Blue Owl Technology Finance in the 4th quarter valued at about $116,497,000. Stephens Inc. AR purchased a new position in Blue Owl Technology Finance in the 4th quarter valued at about $8,220,000. Caz Investments LP boosted its position in 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 during the last quarter. Requisite Capital Management LLC boosted its position in Blue Owl Technology Finance by 141.2% in the 4th quarter. Requisite Capital Management LLC now owns 674,624 shares of the company’s stock valued at $10,078,000 after buying an additional 394,895 shares during the last quarter. Finally, Bayshore Capital Advisors LLC purchased a new position in Blue Owl Technology Finance in the 4th quarter valued at about $2,220,000.

Insider Buying and Selling

In related news, Director Chris Temple acquired 7,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of $10.71 per share, for a total transaction 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Melissa Weiler acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $109,000. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 18,000 shares of company stock worth $194,710 in the last quarter. Company insiders own 0.05% of the company’s stock.

Blue Owl Technology Finance Stock Down 1.7%

Shares of NYSE:OTF opened at $11.30 on Friday. The company has a 50 day moving average price of $11.33. Blue Owl Technology Finance Corp. has a 52 week low of $10.48 and a 52 week high of $21.62. The firm has a market capitalization of $5.23 billion and a price-to-earnings ratio of 12.55.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 EPS 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 firm had revenue of $222.12 million during the quarter. During the same quarter in the prior year, the firm earned $0.41 EPS. Sell-side analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current fiscal year.

Blue Owl Technology Finance declared that its board has approved a share buyback plan on Wednesday, February 18th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Blue Owl Technology Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid 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 dividend on an annualized basis and a dividend yield of 12.4%. The ex-dividend date is Tuesday, June 30th. Blue Owl Technology Finance’s dividend payout ratio (DPR) is 155.56%.

Analyst Ratings Changes

Several equities analysts have recently commented on OTF shares. Truist Financial reduced their price target on shares of Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Wells Fargo & Company reduced their price target on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Zacks Research cut shares of Blue Owl Technology Finance from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Citizens Jmp reduced their price target on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada reduced their price target on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.40.

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.