Denali Advisors LLC Purchases Shares of 108,378 Blue Owl Technology Finance Corp. $OTF

Denali Advisors LLC purchased a new stake in Blue Owl Technology Finance Corp. (NYSE:OTF) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 108,378 shares of the company’s stock, valued at approximately $1,576,000.

Several other institutional investors have also recently added to or reduced their stakes in OTF. Sanctuary Advisors LLC lifted its stake in Blue Owl Technology Finance by 195.4% in the fourth quarter. Sanctuary Advisors LLC now owns 149,377 shares of the company’s stock valued at $2,172,000 after buying an additional 98,812 shares during the period. UBS Group AG lifted its stake in Blue Owl Technology Finance by 125.9% in the fourth quarter. UBS Group AG now owns 147,386 shares of the company’s stock valued at $2,143,000 after buying an additional 82,134 shares during the period. Blue Trust Inc. increased its holdings in shares of Blue Owl Technology Finance by 141.6% during the fourth quarter. Blue Trust Inc. now owns 126,897 shares of the company’s stock valued at $1,845,000 after acquiring an additional 74,370 shares in the last quarter. Pallas Capital Advisors LLC increased its holdings in shares of Blue Owl Technology Finance by 642.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock valued at $1,243,000 after acquiring an additional 73,966 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Blue Owl Technology Finance by 177.1% during the fourth quarter. CWM LLC now owns 92,208 shares of the company’s stock valued at $1,341,000 after acquiring an additional 58,935 shares in the last quarter.

Blue Owl Technology Finance Price Performance

Shares of OTF opened at $10.95 on Friday. The business’s 50-day moving average is $11.75. The stock has a market cap of $5.06 billion and a PE ratio of 12.16. Blue Owl Technology Finance Corp. has a 52-week low of $10.67 and a 52-week high of $21.62.

Blue Owl Technology Finance (NYSE:OTF) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The company had revenue of $325.94 million for the quarter. Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.During the same quarter last year, the business earned $0.41 earnings per share. As a group, research analysts predict that Blue Owl Technology Finance Corp. will post 1.31 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a yield of 12.8%. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio is currently 155.56%.

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

Analyst Upgrades and Downgrades

OTF has been the subject of several recent research reports. Wells Fargo & Company decreased 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. Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Citizens Jmp decreased 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. Truist Financial decreased their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on Blue Owl Technology Finance from $16.00 to $13.00 and set a “market perform” rating for the company in a research note on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Blue Owl Technology Finance currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.25.

Insiders Place Their Bets

In other Blue Owl Technology Finance news, Director Chris Temple bought 5,000 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were acquired at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $57,450. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is owned by corporate insiders.

Blue Owl Technology Finance Company 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.