NewEdge Advisors LLC Has $785,000 Stock Position in Blue Owl Technology Finance Corp. $OTF

NewEdge Advisors LLC grew its holdings in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) by 271.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,378 shares of the company’s stock after purchasing an additional 46,300 shares during the quarter. NewEdge Advisors LLC’s holdings in Blue Owl Technology Finance were worth $785,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. California State Teachers Retirement System acquired a new position in Blue Owl Technology Finance during the first quarter worth $250,556,000. Orange County Employees Retirement System acquired a new stake in shares of Blue Owl Technology Finance in the fourth quarter worth about $116,497,000. Capricorn Investment Group LLC bought a new stake in shares of Blue Owl Technology Finance during the 4th quarter worth about $78,915,000. Franklin Resources Inc. boosted its stake in shares of Blue Owl Technology Finance by 155,006.8% during the 4th quarter. Franklin Resources Inc. now owns 1,754,258 shares of the company’s stock worth $25,507,000 after acquiring an additional 1,753,127 shares in the last quarter. Finally, Rivernorth Capital Management LLC increased its holdings in shares of Blue Owl Technology Finance by 374.2% during the 4th quarter. Rivernorth Capital Management LLC now owns 1,934,726 shares of the company’s stock valued at $28,131,000 after acquiring an additional 1,526,695 shares during the last quarter.

Blue Owl Technology Finance Stock Performance

NYSE OTF opened at $11.18 on Thursday. Blue Owl Technology Finance Corp. has a twelve month low of $9.75 and a twelve month high of $15.82. The stock has a market capitalization of $5.12 billion, a PE ratio of 13.97 and a beta of -0.86. The stock has a 50-day simple moving average of $10.58 and a 200 day simple moving average of $11.30.

Blue Owl Technology Finance (NYSE:OTF) last released its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $279.54 million for the quarter. Blue Owl Technology Finance had a return on equity of 7.17% and a net margin of 28.69%.During the same period last year, the business earned $0.45 EPS. As a group, equities research analysts forecast that Blue Owl Technology Finance Corp. will post 1.25 EPS for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.35 dividend. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a dividend yield of 12.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Blue Owl Technology Finance’s dividend payout ratio (DPR) is currently 175.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on OTF shares. Keefe, Bruyette & Woods cut their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 12th. Citizens Jmp increased their price target on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Truist Financial dropped their price target on shares of Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Wells Fargo & Company reduced their price objective 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, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $12.00 price objective on shares of Blue Owl Technology Finance in a report on Monday. Four equities 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.com, Blue Owl Technology Finance has a consensus rating of “Moderate Buy” and an average price target of $13.60.

Insider Activity

In related news, Director Chris Temple acquired 7,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $10.71 per share, for a total transaction of $74,970.00. Following the completion of the purchase, the director owned 12,000 shares in the company, valued at approximately $128,520. The trade was a 140.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.05% of the company’s stock.

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.