Blue Owl Technology Finance (NYSE:OTF) Director Buys $11,370.00 in Stock

Blue Owl Technology Finance Corp. (NYSE:OTF) Director Eric Kaye bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average cost of $11.37 per share, for a total transaction of $11,370.00. Following the completion of the acquisition, the director directly owned 3,000 shares in the company, valued at $34,110. The trade was a 50.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Blue Owl Technology Finance Price Performance

Blue Owl Technology Finance stock traded up $0.32 during mid-day trading on Monday, hitting $11.70. 2,928,888 shares of the company’s stock traded hands, compared to its average volume of 2,319,663. Blue Owl Technology Finance Corp. has a fifty-two week low of $9.75 and a fifty-two week high of $15.82. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 14.62 and a beta of -0.86. The firm has a 50 day simple moving average of $10.62 and a two-hundred day simple moving average of $11.23.

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

Blue Owl Technology Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 12.0%. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, September 30th. Blue Owl Technology Finance’s dividend payout ratio (DPR) is 175.00%.

Analyst Ratings Changes

Several equities analysts have recently commented on OTF shares. Keefe, Bruyette & Woods decreased their target price 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, May 12th. Royal Bank Of Canada restated a “sector perform” rating and issued a $12.00 price target on shares of Blue Owl Technology Finance in a research note on Monday, August 17th. Truist Financial decreased their price objective on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Citigroup reiterated an “outperform” rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th. Finally, Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.60.

Institutional Investors Weigh In On Blue Owl Technology Finance

Several institutional investors have recently made changes to their positions in OTF. California State Teachers Retirement System acquired a new stake in Blue Owl Technology Finance during the first quarter worth approximately $250,556,000. Orange County Employees Retirement System acquired a new position in Blue Owl Technology Finance in the 4th quarter valued at $116,497,000. Capricorn Investment Group LLC bought a new stake in shares of Blue Owl Technology Finance during the 4th quarter valued at $78,915,000. Rivernorth Capital Management LLC lifted its position in shares of Blue Owl Technology Finance by 12.5% during the 1st quarter. Rivernorth Capital Management LLC now owns 2,176,269 shares of the company’s stock valued at $26,964,000 after acquiring an additional 241,543 shares during the period. Finally, Requisite Capital Management LLC grew its holdings in shares of Blue Owl Technology Finance by 50.8% during the 2nd quarter. Requisite Capital Management LLC now owns 1,885,709 shares of the company’s stock worth $20,267,000 after purchasing an additional 635,531 shares in the last quarter.

About Blue Owl Technology Finance

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.