Blue Owl Technology Finance Corp. $OTF Shares Sold by Regents of The University of California

Regents of The University of California cut its stake in Blue Owl Technology Finance Corp. (NYSE:OTF) by 10.9% during the third quarter, HoldingsChannel reports. The firm owned 38,861,215 shares of the company’s stock after selling 4,763,257 shares during the period. Blue Owl Technology Finance accounts for about 5.7% of Regents of The University of California’s holdings, making the stock its 5th largest position. Regents of The University of California owned about 0.08% of Blue Owl Technology Finance worth $381,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. California State Teachers Retirement System bought a new stake in Blue Owl Technology Finance during the 1st quarter valued at about $250,556,000. Rivernorth Capital Management LLC grew 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 acquiring an additional 241,543 shares in the last quarter. Requisite Capital Management LLC grew 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 acquiring an additional 635,531 shares in the last quarter. Laura & John Arnold Foundation bought a new position in Blue Owl Technology Finance in the 2nd quarter worth about $12,420,000. Finally, Wellington Management Group LLP purchased a new position in shares of Blue Owl Technology Finance during the second quarter worth approximately $11,666,000.

Blue Owl Technology Finance Trading Up 1.8%

Shares of Blue Owl Technology Finance stock opened at $9.23 on Wednesday. The company has a 50-day simple moving average of $10.25 and a two-hundred day simple moving average of $11.23. Blue Owl Technology Finance Corp. has a one year low of $8.76 and a one year high of $15.00.

Blue Owl Technology Finance (NYSE:OTF) last issued its quarterly 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 business had revenue of $338.03 million for the quarter. During the same quarter in the previous year, the firm posted $0.45 earnings per share. As a group, sell-side analysts anticipate that Blue Owl Technology Finance Corp. will post 1.25 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 15.2%. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05.

Analysts Set New Price Targets

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

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.