World Investment Advisors Raises Stock Holdings in Blue Owl Technology Finance Corp. $OTF

World Investment Advisors increased its position in Blue Owl Technology Finance Corp. (NYSE:OTF) by 51.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,343 shares of the company’s stock after acquiring an additional 46,655 shares during the period. World Investment Advisors’ holdings in Blue Owl Technology Finance were worth $1,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OTF. NewEdge Wealth LLC grew its position in Blue Owl Technology Finance by 3.3% during the 4th quarter. NewEdge Wealth LLC now owns 69,925 shares of the company’s stock worth $1,017,000 after purchasing an additional 2,218 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in Blue Owl Technology Finance during the 4th quarter worth about $44,000. Cornerstone Partners Capital Management LLC acquired a new stake in Blue Owl Technology Finance during the 4th quarter worth about $146,000. QP Wealth Management LLC acquired a new stake in Blue Owl Technology Finance during the 4th quarter worth about $168,000. Finally, Norden Group LLC acquired a new stake in Blue Owl Technology Finance during the 4th quarter worth about $169,000.

Blue Owl Technology Finance Trading Down 0.2%

Shares of Blue Owl Technology Finance stock opened at $11.14 on Friday. Blue Owl Technology Finance Corp. has a twelve month low of $10.67 and a twelve month high of $21.62. The company has a 50-day simple moving average of $11.67. The stock has a market cap of $5.15 billion and a price-to-earnings ratio of 12.38.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share 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 business had revenue of $325.94 million during the quarter. During the same period in the previous year, the company posted $0.41 EPS. Sell-side analysts anticipate that Blue Owl Technology Finance Corp. will post 1.29 earnings per share for the current fiscal year.

Blue Owl Technology Finance announced that its board has initiated a stock buyback program on Wednesday, February 18th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Blue Owl Technology Finance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors 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 annualized dividend and a dividend yield of 12.6%. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio (DPR) is presently 155.56%.

Insider Activity

In other news, 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 cost of $10.90 per share, for a total transaction of $109,000.00. Following the acquisition, the director owned 10,000 shares in the company, valued at approximately $109,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Chris Temple acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased 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 in the company, valued at $57,450. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 17,000 shares of company stock valued at $188,630. 0.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OTF. 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 research report on Tuesday. Truist Financial cut their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Zacks Research downgraded Blue Owl Technology Finance from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Wells Fargo & Company cut their price target on 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. Finally, Citizens Jmp cut their price target 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. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.00.

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.