Sanctuary Advisors LLC Boosts Stock Position in Blue Owl Technology Finance Corp. $OTF

Sanctuary Advisors LLC grew its stake in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) by 195.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,377 shares of the company’s stock after buying an additional 98,812 shares during the period. Sanctuary Advisors LLC’s holdings in Blue Owl Technology Finance were worth $2,172,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in OTF. Apollon Wealth Management LLC raised its holdings in shares of Blue Owl Technology Finance by 260.2% in the fourth quarter. Apollon Wealth Management LLC now owns 72,751 shares of the company’s stock valued at $1,058,000 after acquiring an additional 52,551 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in Blue Owl Technology Finance by 642.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock worth $1,243,000 after purchasing an additional 73,966 shares in the last quarter. Blue Trust Inc. grew its stake 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 worth $1,845,000 after acquiring an additional 74,370 shares during the last quarter. TrueMark Investments LLC purchased a new stake in shares of Blue Owl Technology Finance during the fourth quarter worth about $654,000. Finally, CWM LLC grew its stake 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 worth $1,341,000 after acquiring an additional 58,935 shares during the last quarter.

Insider Transactions at Blue Owl Technology Finance

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Citizens Jmp lowered their price objective on 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. Truist Financial reduced their target price 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. 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 research note on Monday, February 23rd. Finally, Wells Fargo & Company reduced 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 note on Friday, February 20th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Blue Owl Technology Finance Trading Up 1.7%

Shares of NYSE:OTF opened at $11.58 on Friday. The company has a fifty day moving average of $11.74. The stock has a market cap of $5.34 billion and a PE ratio of 6.81. 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, February 18th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The business had revenue of $223.52 million for the quarter, compared to analyst estimates of $326.27 million. Blue Owl Technology Finance had a return on equity of 6.91% and a net margin of 62.89%. Analysts predict that Blue Owl Technology Finance Corp. will post 1.31 EPS for the current year.

Blue Owl Technology Finance declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Blue Owl Technology Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date of this dividend was Tuesday, March 31st. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio is 82.35%.

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.