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

Bulldog Investors LLP grew its position in Blue Owl Technology Finance Corp. (NYSE:OTF) by 9.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 675,861 shares of the company’s stock after purchasing an additional 60,013 shares during the quarter. Blue Owl Technology Finance makes up about 1.9% of Bulldog Investors LLP’s portfolio, making the stock its 12th largest position. Bulldog Investors LLP’s holdings in Blue Owl Technology Finance were worth $8,374,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of OTF. Orange County Employees Retirement System bought a new position in Blue Owl Technology Finance during the fourth quarter worth $116,497,000. Rockefeller Capital Management L.P. boosted its position in Blue Owl Technology Finance by 34.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 624,044 shares of the company’s stock valued at $9,074,000 after acquiring an additional 159,060 shares during the last quarter. Requisite Capital Management LLC boosted its position in Blue Owl Technology Finance by 141.2% during the fourth quarter. Requisite Capital Management LLC now owns 674,624 shares of the company’s stock valued at $10,078,000 after acquiring an additional 394,895 shares during the last quarter. Caz Investments LP grew its holdings 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 acquiring an additional 486,172 shares during the period. Finally, Stephens Inc. AR acquired a new stake in Blue Owl Technology Finance during the 4th quarter worth about $8,220,000.

Wall Street Analyst Weigh In

OTF has been the subject of several research analyst reports. Royal Bank Of Canada lowered their price objective on 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. Truist Financial decreased their target price on 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. Citizens Jmp lowered their target price on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods dropped their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company dropped their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Blue Owl Technology Finance currently has an average rating of “Moderate Buy” and a consensus price target of $13.40.

Blue Owl Technology Finance Trading Up 0.4%

OTF opened at $10.14 on Tuesday. Blue Owl Technology Finance Corp. has a 1-year low of $9.94 and a 1-year high of $15.82. The company has a market cap of $4.69 billion and a P/E ratio of 11.27. The company has a fifty day moving average price of $10.71 and a two-hundred day moving average price of $11.79.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly earnings data 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). The company 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 business earned $0.41 earnings per share. On average, research analysts forecast that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.35 dividend. The ex-dividend date was Tuesday, June 30th. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a yield of 13.8%. Blue Owl Technology Finance’s dividend payout ratio is currently 155.56%.

Insider Buying and Selling

In other news, Director Melissa Weiler acquired 10,000 shares of Blue Owl Technology Finance stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $10.90 per share, with a total value of $109,000.00. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at approximately $109,000. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Chris Temple acquired 7,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $10.71 per share, with a total value of $74,970.00. Following the acquisition, the director 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 disclosure for this purchase is available in the SEC filing. Insiders acquired 18,000 shares of company stock valued at $194,710 in the last three months. Insiders own 0.05% of the company’s stock.

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.