Wellington Management Group LLP Buys Shares of 1,127,145 Blue Owl Technology Finance Corp. $OTF

Wellington Management Group LLP purchased a new position in Blue Owl Technology Finance Corp. (NYSE:OTF) in the second quarter, HoldingsChannel reports. The institutional investor purchased 1,127,145 shares of the company’s stock, valued at approximately $11,666,000.

A number of other institutional investors have also recently made changes to their positions in OTF. UBS Group AG lifted its holdings in shares of Blue Owl Technology Finance by 125.9% during the 4th quarter. UBS Group AG now owns 147,386 shares of the company’s stock worth $2,143,000 after acquiring an additional 82,134 shares during the last quarter. Truist Financial Corp bought a new position in Blue Owl Technology Finance in the fourth quarter valued at $224,000. Diversify Wealth Management LLC bought a new position in Blue Owl Technology Finance in the fourth quarter valued at $222,000. NewEdge Wealth LLC raised its position 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 purchasing an additional 2,218 shares in the last quarter. Finally, World Investment Advisors raised its position in Blue Owl Technology Finance by 51.4% during the fourth quarter. World Investment Advisors now owns 137,343 shares of the company’s stock valued at $1,997,000 after purchasing an additional 46,655 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OTF. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $12.00 price objective on shares of Blue Owl Technology Finance in a report on Monday, August 17th. Truist Financial decreased their price objective on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Citizens Jmp upped their target price on Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Finally, Citigroup reiterated an “outperform” rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Blue Owl Technology Finance currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.60.

Blue Owl Technology Finance Stock Performance

Blue Owl Technology Finance stock opened at $11.38 on Tuesday. The firm has a market cap of $5.21 billion, a P/E ratio of 14.22 and a beta of -0.73. 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 50-day moving average of $10.74 and a 200-day moving average of $11.17.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $279.54 million for the quarter. Blue Owl Technology Finance had a return on equity of 7.17% and a net margin of 28.69%.During the same quarter in the prior year, the firm earned $0.45 EPS. Research analysts forecast that Blue Owl Technology Finance Corp. will post 1.25 earnings per share for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.35 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.3%. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio is 175.00%.

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.