Blue Owl Technology Finance Corp. $OTF Shares Newly Purchased by State of New Jersey Common Pension Fund A

State of New Jersey Common Pension Fund A acquired a new position in Blue Owl Technology Finance Corp. (NYSE:OTF) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,206,609 shares of the company’s stock, valued at approximately $41,267,000. Blue Owl Technology Finance accounts for 16.3% of State of New Jersey Common Pension Fund A’s holdings, making the stock its 2nd largest position. State of New Jersey Common Pension Fund A owned approximately 0.92% of Blue Owl Technology Finance as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. California State Teachers Retirement System purchased a new stake in Blue Owl Technology Finance during the 1st quarter valued at about $250,556,000. Rivernorth Capital Management LLC increased its stake in Blue Owl Technology Finance by 12.5% in the 1st quarter. Rivernorth Capital Management LLC now owns 2,176,269 shares of the company’s stock worth $26,964,000 after purchasing an additional 241,543 shares during the period. Requisite Capital Management LLC increased its stake in Blue Owl Technology Finance by 50.8% in 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 during the period. Bank of America Corp DE increased its stake in Blue Owl Technology Finance by 54.5% in the 1st quarter. Bank of America Corp DE now owns 1,098,349 shares of the company’s stock worth $13,609,000 after purchasing an additional 387,404 shares during the period. Finally, Pine Ridge Advisers LLC lifted its position in Blue Owl Technology Finance by 100.0% in the first quarter. Pine Ridge Advisers LLC now owns 1,022,732 shares of the company’s stock valued at $12,672,000 after purchasing an additional 511,368 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently weighed in on OTF. Citizens Jmp increased their price objective on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $12.00 target price on shares of Blue Owl Technology Finance in a research note on Monday, August 17th. Finally, Citigroup reiterated an “outperform” rating on shares of Blue Owl Technology Finance in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Blue Owl Technology Finance has an average rating of “Moderate Buy” and a consensus price target of $13.60.

Blue Owl Technology Finance Price Performance

NYSE OTF opened at $9.62 on Wednesday. The stock has a market capitalization of $4.41 billion, a PE ratio of 12.03 and a beta of -0.53. Blue Owl Technology Finance Corp. has a 1 year low of $8.76 and a 1 year high of $15.00. The business’s 50-day moving average is $10.10 and its 200 day moving average is $11.12.

Blue Owl Technology Finance (NYSE:OTF) last announced its earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Blue Owl Technology Finance had a return on equity of 7.17% and a net margin of 28.69%. The company had revenue of $338.03 million during the quarter. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, equities research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.25 earnings per share for the current year.

About Blue Owl Technology Finance

Blue Owl Technology Finance (NYSE: OTF) is a business development company that provides financing to technology-related businesses. The company primarily invests in senior secured loans and other debt investments, with a focus on companies operating in technology and technology-enabled industries.

Its portfolio may also include subordinated debt, equity investments and other securities, allowing it to support businesses at various stages of development. Blue Owl Technology Finance generally works with private, middle-market companies seeking capital for growth, acquisitions, recapitalizations and other corporate purposes.

The company is externally managed by an affiliate of Blue Owl Capital, an alternative asset manager.