Wellington Management Group LLP Invests $11.67 Million in Blue Owl Technology Finance Corp. $OTF

Wellington Management Group LLP purchased a new position in Blue Owl Technology Finance Corp. (NYSE:OTF) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,127,145 shares of the company’s stock, valued at approximately $11,666,000. Wellington Management Group LLP owned 0.25% of Blue Owl Technology Finance at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. California State Teachers Retirement System purchased a new stake in Blue Owl Technology Finance in the first quarter worth $250,556,000. Bank of America Corp DE lifted its position in shares of 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 buying an additional 387,404 shares during the last quarter. Orange County Employees Retirement System purchased a new position in shares of Blue Owl Technology Finance during the 4th quarter valued at $116,497,000. Laura & John Arnold Foundation bought a new position in shares of Blue Owl Technology Finance during the 2nd quarter worth $12,420,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of 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 worth $9,074,000 after acquiring an additional 159,060 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Truist Financial lowered their price objective on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Zacks Research raised shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada restated a “sector perform” rating and set a $12.00 price target on shares of Blue Owl Technology Finance in a research note on Monday, August 17th. Citigroup reaffirmed an “outperform” rating on shares of Blue Owl Technology Finance in a report on Friday, August 7th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of 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. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Blue Owl Technology Finance has an average rating of “Moderate Buy” and a consensus target price of $13.60.

Blue Owl Technology Finance Price Performance

Shares of NYSE:OTF opened at $11.38 on Tuesday. The firm has a fifty day moving average price of $10.74 and a two-hundred day moving average price of $11.17. Blue Owl Technology Finance Corp. has a one year low of $9.75 and a one year high of $15.82. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 14.22 and a beta of -0.73.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. The firm had revenue of $279.54 million for the quarter. During the same period in the previous year, the company posted $0.45 EPS. Equities research analysts expect that Blue Owl Technology Finance Corp. will post 1.25 EPS for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, September 30th. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a yield of 12.3%. Blue Owl Technology Finance’s dividend payout ratio (DPR) is presently 175.00%.

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.