45,000 Shares in Blue Owl Technology Finance Corp. $OTF Acquired by TrueMark Investments LLC

TrueMark Investments LLC acquired a new position in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 45,000 shares of the company’s stock, valued at approximately $654,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pallas Capital Advisors LLC increased its stake in shares of Blue Owl Technology Finance by 642.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock valued at $1,243,000 after buying an additional 73,966 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Blue Owl Technology Finance by 137.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,992 shares of the company’s stock valued at $1,044,000 after acquiring an additional 42,888 shares during the period. Norden Group LLC bought a new position in Blue Owl Technology Finance in the fourth quarter valued at about $169,000. Generali Investments CEE investicni spolecnost a.s. boosted its holdings in Blue Owl Technology Finance by 121.0% in the fourth quarter. Generali Investments CEE investicni spolecnost a.s. now owns 48,426 shares of the company’s stock valued at $704,000 after acquiring an additional 26,510 shares during the last quarter. Finally, QP Wealth Management LLC acquired a new stake in Blue Owl Technology Finance in the fourth quarter worth about $168,000.

Insider Buying and Selling at Blue Owl Technology Finance

In other news, Director Chris Temple purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was bought at an average price of $11.49 per share, with a total value of $57,450.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $57,450. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Blue Owl Technology Finance Price Performance

Blue Owl Technology Finance stock opened at $12.54 on Tuesday. The firm has a market cap of $5.84 billion and a price-to-earnings ratio of 7.38. The stock’s 50-day moving average is $12.44. Blue Owl Technology Finance Corp. has a 1 year low of $10.91 and a 1 year high of $21.62.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Blue Owl Technology Finance had a net margin of 62.89% and a return on equity of 6.91%. The firm had revenue of $223.52 million during the quarter, compared to analyst estimates of $326.27 million.

Blue Owl Technology Finance declared that its board has authorized a stock buyback program on Wednesday, February 18th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Blue Owl Technology Finance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 11.2%. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, March 31st. Blue Owl Technology Finance’s dividend payout ratio (DPR) is 82.35%.

Wall Street Analysts Forecast Growth

OTF has been the subject of several recent research reports. Truist Financial dropped their price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Zacks Research upgraded shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Wells Fargo & Company reduced their price objective on shares of Blue Owl Technology Finance from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Blue Owl Technology Finance from $16.00 to $13.00 and set a “market perform” rating for the company in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $14.00.

Blue Owl Technology Finance 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.