Stephens Inc. AR Purchases 325,508 Shares of Blue Owl Technology Finance Corp. $OTF

Stephens Inc. AR boosted its holdings in Blue Owl Technology Finance Corp. (NYSE:OTF) by 57.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 890,862 shares of the company’s stock after buying an additional 325,508 shares during the period. Stephens Inc. AR’s holdings in Blue Owl Technology Finance were worth $11,038,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors increased its holdings in shares of Blue Owl Technology Finance by 212.4% in the 1st quarter. World Investment Advisors now owns 429,025 shares of the company’s stock worth $5,316,000 after purchasing an additional 291,682 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Blue Owl Technology Finance by 113.8% during the first quarter. Private Advisor Group LLC now owns 23,771 shares of the company’s stock valued at $295,000 after purchasing an additional 12,653 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its position in shares of Blue Owl Technology Finance by 182.8% during the first quarter. Elevation Point Wealth Partners LLC now owns 80,140 shares of the company’s stock valued at $1,025,000 after buying an additional 51,801 shares during the last quarter. Keybank National Association OH purchased a new stake in shares of Blue Owl Technology Finance during the first quarter valued at $148,000. Finally, Catalina Capital Group LLC increased its holdings in Blue Owl Technology Finance by 95.4% in the 1st quarter. Catalina Capital Group LLC now owns 32,065 shares of the company’s stock worth $397,000 after buying an additional 15,659 shares in the last quarter.

Insider Buying and Selling at Blue Owl Technology Finance

In related news, Director Chris Temple acquired 7,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $10.71 per share, with a total value of $74,970.00. Following the completion of the purchase, the director directly owned 12,000 shares of the company’s stock, valued at $128,520. This represents a 140.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Melissa Weiler acquired 10,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at approximately $109,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 18,000 shares of company stock valued at $194,710 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on OTF shares. Keefe, Bruyette & Woods lowered their target price 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 note on Tuesday, May 12th. 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 report on Friday, May 8th. Zacks Research upgraded shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada dropped their target price on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Monday, May 18th. Finally, Truist Financial cut their target price on shares of Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Blue Owl Technology Finance has a consensus rating of “Moderate Buy” and an average target price of $13.40.

Blue Owl Technology Finance Stock Up 1.9%

Shares of OTF traded up $0.20 on Tuesday, reaching $10.56. The company’s stock had a trading volume of 355,771 shares, compared to its average volume of 2,201,927. The company’s 50 day moving average price is $10.89. The stock has a market capitalization of $4.89 billion and a PE ratio of 11.73. Blue Owl Technology Finance Corp. has a 12-month low of $10.13 and a 12-month high of $15.82.

Blue Owl Technology Finance (NYSE:OTF) last announced its earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $222.12 million for the quarter. During the same period in the prior year, the company posted $0.41 earnings per share. As a group, research analysts expect that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.35 dividend. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 13.3%. Blue Owl Technology Finance’s dividend payout ratio (DPR) is currently 155.56%.

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.