Blue Owl Technology Finance (NYSE:OTF) Director Eric Kaye Buys 1,000 Shares

Blue Owl Technology Finance Corp. (NYSE:OTF) Director Eric Kaye bought 1,000 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were bought at an average cost of $11.37 per share, for a total transaction of $11,370.00. Following the completion of the transaction, the director directly owned 3,000 shares of the company’s stock, valued at $34,110. This trade represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Blue Owl Technology Finance Stock Up 2.8%

NYSE:OTF opened at $11.70 on Tuesday. Blue Owl Technology Finance Corp. has a 1-year low of $9.75 and a 1-year high of $15.82. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 14.62 and a beta of -0.86. The stock has a fifty day simple moving average of $10.64 and a 200 day simple moving average of $11.22.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $279.54 million for the quarter. During the same quarter in the previous year, the firm posted $0.45 EPS. Equities analysts predict that Blue Owl Technology Finance Corp. will post 1.25 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The company 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%. The ex-dividend date is Wednesday, September 30th. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio is presently 175.00%.

Institutional Trading of Blue Owl Technology Finance

Large investors have recently modified their holdings of the company. NewEdge Wealth LLC boosted its holdings in Blue Owl Technology Finance by 3.3% during the fourth quarter. NewEdge Wealth LLC now owns 69,925 shares of the company’s stock valued at $1,017,000 after acquiring an additional 2,218 shares during the period. Lido Advisors LLC increased its stake in shares of Blue Owl Technology Finance by 22.6% in the fourth quarter. Lido Advisors LLC now owns 14,545 shares of the company’s stock worth $208,000 after purchasing an additional 2,683 shares during the period. Kestra Advisory Services LLC increased its stake in shares of Blue Owl Technology Finance by 39.1% in the first quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company’s stock worth $152,000 after purchasing an additional 3,443 shares during the period. Blair William & Co. IL lifted its position in shares of Blue Owl Technology Finance by 41.4% during the 4th quarter. Blair William & Co. IL now owns 14,807 shares of the company’s stock worth $215,000 after purchasing an additional 4,334 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Blue Owl Technology Finance by 31.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 33,321 shares of the company’s stock worth $413,000 after purchasing an additional 8,010 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OTF. Wells Fargo & Company decreased their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Citigroup restated an “outperform” rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th. Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Keefe, Bruyette & Woods lowered their price objective on shares of 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. Finally, Citizens Jmp increased their target price on shares of Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.60.

Blue Owl Technology Finance Company Profile

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.