152,650 Shares in Blue Owl Technology Finance Corp. $OTF Acquired by Bayshore Capital Advisors LLC

Bayshore Capital Advisors LLC acquired a new position in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) during the 4th quarter, Holdings Channel reports. The fund acquired 152,650 shares of the company’s stock, valued at approximately $2,220,000. Blue Owl Technology Finance comprises about 1.1% of Bayshore Capital Advisors LLC’s holdings, making the stock its 12th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Apollon Wealth Management LLC boosted its stake in Blue Owl Technology Finance by 260.2% during the 4th quarter. Apollon Wealth Management LLC now owns 72,751 shares of the company’s stock worth $1,058,000 after acquiring an additional 52,551 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in shares of 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 valued at $1,243,000 after buying an additional 73,966 shares during the period. Denali Advisors LLC bought a new stake in shares of Blue Owl Technology Finance during the fourth quarter worth $1,576,000. Sanctuary Advisors LLC raised its holdings in shares of Blue Owl Technology Finance by 195.4% during the fourth quarter. Sanctuary Advisors LLC now owns 149,377 shares of the company’s stock worth $2,172,000 after acquiring an additional 98,812 shares during the period. Finally, Blue Trust Inc. lifted its position in Blue Owl Technology Finance by 141.6% in the 4th 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.

Insider Transactions at Blue Owl Technology Finance

In related news, Director Chris Temple bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $57,450. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 7,000 shares of company stock worth $79,630 in the last 90 days. Corporate insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on OTF shares. Keefe, Bruyette & Woods cut their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Tuesday. Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Truist Financial reduced their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Wells Fargo & Company decreased their price target on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Citizens Jmp cut their price objective 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. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.00.

Blue Owl Technology Finance Trading Up 1.4%

NYSE:OTF opened at $10.88 on Thursday. Blue Owl Technology Finance Corp. has a 52-week low of $10.67 and a 52-week high of $21.62. The firm has a market capitalization of $5.03 billion and a P/E ratio of 12.08. The firm has a 50-day moving average of $11.70.

Blue Owl Technology Finance (NYSE:OTF) last released its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.The company had revenue of $325.94 million for the quarter. During the same quarter in the previous year, the firm earned $0.41 EPS. Research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.12 EPS for the current year.

Blue Owl Technology Finance announced that its board has initiated a stock repurchase program 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 programs are typically a sign that the company’s board believes its stock is undervalued.

Blue Owl Technology Finance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, June 30th. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a yield of 12.9%. Blue Owl Technology Finance’s dividend payout ratio is currently 155.56%.

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.