Rockefeller Capital Management L.P. Increases Stock Position in Blue Owl Technology Finance Corp. $OTF

Rockefeller Capital Management L.P. grew its holdings in Blue Owl Technology Finance Corp. (NYSE:OTF) by 34.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 624,044 shares of the company’s stock after purchasing an additional 159,060 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Blue Owl Technology Finance were worth $9,074,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Newbridge Financial Services Group Inc. purchased a new stake in Blue Owl Technology Finance in the 4th quarter valued at approximately $44,000. Clearstead Advisors LLC acquired a new stake in Blue Owl Technology Finance during the 4th quarter valued at $124,000. Kestra Advisory Services LLC purchased a new position in Blue Owl Technology Finance during the fourth quarter worth $128,000. Cornerstone Partners Capital Management LLC purchased a new position in Blue Owl Technology Finance during the fourth quarter worth $146,000. Finally, Onyx Bridge Wealth Group LLC acquired a new position in shares of Blue Owl Technology Finance in the fourth quarter worth $150,000.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on 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 price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. 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 note on Tuesday, May 12th. Zacks Research upgraded shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Finally, Royal Bank Of Canada decreased their price target 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 note on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Blue Owl Technology Finance currently has an average rating of “Moderate Buy” and a consensus target price of $13.40.

Insider Transactions at Blue Owl Technology Finance

In related news, Director Chris Temple bought 7,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $10.71 per share, with a total value of $74,970.00. Following the completion of the transaction, the director owned 12,000 shares of the company’s stock, valued at approximately $128,520. The trade was a 140.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Melissa Weiler bought 10,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price 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 of the company’s stock, valued at $109,000. This trade represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 18,000 shares of company stock worth $194,710. 0.05% of the stock is owned by corporate insiders.

Blue Owl Technology Finance Price Performance

Shares of OTF opened at $10.24 on Friday. Blue Owl Technology Finance Corp. has a fifty-two week low of $10.13 and a fifty-two week high of $16.10. The firm has a market cap of $4.74 billion and a P/E ratio of 11.38. The company has a fifty day simple moving average of $11.07.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The business 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 last year, the business earned $0.41 EPS. As a group, research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 13.7%. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, June 30th. 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.