Callodine Capital Management LP Takes $2.17 Million Position in Blue Owl Technology Finance Corp. $OTF

Callodine Capital Management LP acquired a new position in Blue Owl Technology Finance Corp. (NYSE:OTF) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 175,000 shares of the company’s stock, valued at approximately $2,168,000.

Several other large investors have also made changes to their positions in the business. Newbridge Financial Services Group Inc. bought a new stake in Blue Owl Technology Finance during the 4th quarter valued at approximately $44,000. Clearstead Advisors LLC acquired a new stake in Blue Owl Technology Finance in the 4th quarter valued at approximately $124,000. Abel Hall LLC bought a new position in Blue Owl Technology Finance in the 1st quarter worth approximately $124,000. Kestra Advisory Services LLC bought a new position in Blue Owl Technology Finance in the 4th quarter worth approximately $128,000. Finally, Cornerstone Partners Capital Management LLC bought a new position in Blue Owl Technology Finance in the 4th quarter worth approximately $146,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on OTF. Keefe, Bruyette & Woods reduced their price objective on 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. Citizens Jmp lowered their price objective on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. 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 research report on Monday, May 18th. 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 note on Tuesday, May 19th. Finally, Zacks Research raised shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.40.

Insiders Place Their Bets

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

Blue Owl Technology Finance Trading Up 0.5%

Shares of OTF stock opened at $9.97 on Friday. The stock has a 50 day moving average of $10.63 and a two-hundred day moving average of $11.71. Blue Owl Technology Finance Corp. has a 12 month low of $9.78 and a 12 month high of $15.82. The company has a market capitalization of $4.61 billion and a P/E ratio of 11.08.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). The firm had revenue of $222.12 million for the quarter. Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.During the same quarter in the previous year, the firm earned $0.41 earnings per share. Sell-side analysts predict 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 company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 14.0%. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, June 30th. Blue Owl Technology Finance’s dividend payout ratio (DPR) is 155.56%.

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.