Blue Owl Technology Finance (NYSE:OTF) Director Chris Temple Buys 7,000 Shares of Stock

Blue Owl Technology Finance Corp. (NYSE:OTF) Director Chris Temple acquired 7,000 shares of the business’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 purchase, the director directly owned 12,000 shares of the company’s stock, valued at $128,520. This represents a 140.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Blue Owl Technology Finance Price Performance

Shares of NYSE OTF opened at $10.72 on Thursday. The company’s 50 day moving average price is $11.51. Blue Owl Technology Finance Corp. has a 52-week low of $10.48 and a 52-week high of $21.62. The firm has a market capitalization of $4.96 billion and a PE ratio of 11.91.

Blue Owl Technology Finance (NYSE:OTF) last announced 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). Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. The firm had revenue of $325.94 million for the quarter. During the same quarter in the prior year, the firm earned $0.41 EPS. As a group, research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current fiscal year.

Blue Owl Technology Finance announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 18th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Blue Owl Technology Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.35 per share. The ex-dividend date is 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 13.1%. Blue Owl Technology Finance’s payout ratio is currently 155.56%.

Institutional Trading of Blue Owl Technology Finance

Institutional investors and hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of Blue Owl Technology Finance during the 4th quarter worth 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 acquired a new stake in Blue Owl Technology Finance in the 1st quarter valued at approximately $124,000. Kestra Advisory Services LLC acquired a new stake in Blue Owl Technology Finance in the 4th quarter valued at approximately $128,000. Finally, Cornerstone Partners Capital Management LLC acquired a new stake in Blue Owl Technology Finance in the 4th quarter valued at approximately $146,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Keefe, Bruyette & Woods cut their price objective 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. Truist Financial dropped their price target on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Zacks Research cut Blue Owl Technology Finance from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Citizens Jmp dropped their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. 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 report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.40.

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.