Bulldog Investors LLP Has $8.37 Million Stake in Blue Owl Technology Finance Corp. $OTF

Bulldog Investors LLP raised its position in Blue Owl Technology Finance Corp. (NYSE:OTF) by 9.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 675,861 shares of the company’s stock after buying an additional 60,013 shares during the quarter. Blue Owl Technology Finance comprises about 1.9% of Bulldog Investors LLP’s portfolio, making the stock its 12th largest position. Bulldog Investors LLP owned about 0.15% of Blue Owl Technology Finance worth $8,374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Orange County Employees Retirement System bought a new position in shares of Blue Owl Technology Finance in the fourth quarter worth about $116,497,000. Rockefeller Capital Management L.P. grew its holdings in shares of Blue Owl Technology Finance by 34.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 624,044 shares of the company’s stock valued at $9,074,000 after purchasing an additional 159,060 shares during the last quarter. Requisite Capital Management LLC grew its holdings in shares of Blue Owl Technology Finance by 141.2% during the 4th quarter. Requisite Capital Management LLC now owns 674,624 shares of the company’s stock valued at $10,078,000 after purchasing an additional 394,895 shares during the last quarter. Caz Investments LP increased its position in Blue Owl Technology Finance by 72.2% during the 4th quarter. Caz Investments LP now owns 1,159,339 shares of the company’s stock worth $16,857,000 after purchasing an additional 486,172 shares in the last quarter. Finally, Stephens Inc. AR acquired a new position in Blue Owl Technology Finance during the 4th quarter worth approximately $8,220,000.

Blue Owl Technology Finance Price Performance

Shares of NYSE OTF opened at $10.14 on Tuesday. The company has a 50 day simple moving average of $10.71 and a 200 day simple moving average of $11.79. Blue Owl Technology Finance Corp. has a 1 year low of $9.94 and a 1 year high of $15.82. The firm has a market cap of $4.69 billion and a PE ratio of 11.27.

Blue Owl Technology Finance (NYSE:OTF) last posted its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.The business had revenue of $222.12 million for the quarter. During the same quarter last year, the firm earned $0.41 earnings per share. As a group, research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.35 dividend. The ex-dividend date was 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 yield of 13.8%. Blue Owl Technology Finance’s dividend payout ratio (DPR) is currently 155.56%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OTF. Keefe, Bruyette & Woods dropped 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. Truist Financial decreased their target price on shares of Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Wells Fargo & Company lowered their price target 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 Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Citizens Jmp cut their price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.40.

Insiders Place Their Bets

In related news, Director Chris Temple bought 7,000 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 12,000 shares in the company, valued at approximately $128,520. This trade represents a 140.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Melissa Weiler bought 10,000 shares of the business’s stock in a transaction on 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 acquisition, the director directly owned 10,000 shares in the company, valued at approximately $109,000. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 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.

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.