UBS Group AG Grows Stock Holdings in Blue Owl Technology Finance Corp. $OTF

UBS Group AG lifted its position in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) by 125.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 147,386 shares of the company’s stock after purchasing an additional 82,134 shares during the period. UBS Group AG’s holdings in Blue Owl Technology Finance were worth $2,143,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of OTF. Newbridge Financial Services Group Inc. purchased a new stake in shares of Blue Owl Technology Finance during the 4th quarter worth $44,000. Cornerstone Partners Capital Management LLC purchased a new stake in shares of Blue Owl Technology Finance during the 4th quarter worth $146,000. QP Wealth Management LLC purchased a new stake in shares of Blue Owl Technology Finance during the 4th quarter worth $168,000. Norden Group LLC purchased a new stake in shares of Blue Owl Technology Finance during the 4th quarter worth $169,000. Finally, PFG Investments LLC purchased a new stake in shares of Blue Owl Technology Finance during the 4th quarter worth $170,000.

Insider Transactions at Blue Owl Technology Finance

In other Blue Owl Technology Finance news, Director Melissa Weiler bought 10,000 shares of Blue Owl Technology Finance stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $10.90 per share, with a total value of $109,000.00. Following the completion of the acquisition, the director owned 10,000 shares of the company’s stock, valued at approximately $109,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chris Temple bought 7,000 shares of Blue Owl Technology Finance stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $10.71 per share, with a total value of $74,970.00. Following the completion of the acquisition, the director directly owned 12,000 shares of the company’s stock, valued at approximately $128,520. The trade was a 140.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 18,000 shares of company stock valued at $194,710 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

Blue Owl Technology Finance Stock Up 0.6%

NYSE OTF opened at $10.72 on Thursday. Blue Owl Technology Finance Corp. has a 1 year low of $10.48 and a 1 year high of $21.62. The firm has a market capitalization of $4.96 billion and a P/E ratio of 11.91. The company has a fifty day moving average of $11.51.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) 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 company had revenue of $325.94 million during the quarter. During the same period in the previous year, the company earned $0.41 EPS. As a group, sell-side analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current year.

Blue Owl Technology Finance announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Blue Owl Technology Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.1%. Blue Owl Technology Finance’s dividend payout ratio is currently 155.56%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Royal Bank Of Canada decreased their price objective on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Monday, May 18th. Citizens Jmp decreased their price objective on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Wells Fargo & Company decreased 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, Keefe, Bruyette & Woods decreased their price objective on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Blue Owl Technology Finance currently has a consensus rating of “Hold” and a consensus target price of $13.40.

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.