Sanctuary Advisors LLC Acquires 133,722 Shares of Blue Owl Technology Finance Corp. $OTF

Sanctuary Advisors LLC lifted its holdings in Blue Owl Technology Finance Corp. (NYSE:OTF) by 89.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 283,099 shares of the company’s stock after purchasing an additional 133,722 shares during the quarter. Sanctuary Advisors LLC’s holdings in Blue Owl Technology Finance were worth $3,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new stake in Blue Owl Technology Finance in the 4th quarter worth about $44,000. Clearstead Advisors LLC purchased a new position in Blue Owl Technology Finance in the 4th quarter worth about $124,000. Kestra Advisory Services LLC bought a new position in Blue Owl Technology Finance during the 4th quarter valued at about $128,000. Abel Hall LLC bought a new position in Blue Owl Technology Finance during the 1st quarter valued at about $124,000. Finally, Cornerstone Partners Capital Management LLC purchased a new stake in shares of Blue Owl Technology Finance during the 4th quarter valued at about $146,000.

Blue Owl Technology Finance Stock Performance

OTF stock opened at $10.12 on Monday. The company has a market capitalization of $4.68 billion and a P/E ratio of 11.24. The firm has a 50-day moving average price of $10.72. Blue Owl Technology Finance Corp. has a fifty-two week low of $10.06 and a fifty-two week high of $15.82.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (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 firm had revenue of $222.12 million for the quarter. During the same period in the prior year, the company posted $0.41 EPS. On average, sell-side analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The firm 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 of this dividend 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 dividend yield of 13.8%. Blue Owl Technology Finance’s payout ratio is 155.56%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Zacks Research upgraded shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Wells Fargo & Company lowered their price objective on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Citizens Jmp dropped their target price on shares of 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. Royal Bank Of Canada cut their target price on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a research report on Monday, May 18th. Finally, Keefe, Bruyette & Woods cut their target price 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 report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.40.

Insider Buying and Selling

In other Blue Owl Technology Finance news, Director Melissa Weiler bought 10,000 shares of Blue Owl Technology Finance stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $10.90 per share, with a total value of $109,000.00. Following the completion of the acquisition, the director owned 10,000 shares in the company, valued at approximately $109,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Chris Temple purchased 7,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $10.71 per share, for a total transaction of $74,970.00. Following the completion of the transaction, the director directly owned 12,000 shares of the company’s stock, valued at approximately $128,520. This trade represents a 140.00% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 18,000 shares of company stock worth $194,710. 0.05% of the stock is currently owned by insiders.

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.