Diversify Wealth Management LLC Grows Stake in Blue Owl Technology Finance Corp. $OTF

Diversify Wealth Management LLC increased its position in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) by 871.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 155,697 shares of the company’s stock after acquiring an additional 139,677 shares during the period. Diversify Wealth Management LLC’s holdings in Blue Owl Technology Finance were worth $1,929,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Kestra Advisory Services LLC grew its holdings in Blue Owl Technology Finance by 39.1% in the first quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company’s stock valued at $152,000 after purchasing an additional 3,443 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Blue Owl Technology Finance during the 1st quarter worth $3,202,000. Kathmere Capital Management LLC acquired a new position in shares of Blue Owl Technology Finance during the 1st quarter worth $182,000. Abel Hall LLC purchased a new stake in shares of Blue Owl Technology Finance in the 1st quarter worth about $124,000. Finally, Whittier Trust Co. boosted its position in shares of Blue Owl Technology Finance by 4,764.4% in the 1st quarter. Whittier Trust Co. now owns 63,967 shares of the company’s stock worth $725,000 after buying an additional 62,652 shares in the last quarter.

Blue Owl Technology Finance Trading Up 1.1%

NYSE:OTF opened at $10.27 on Wednesday. The firm has a market capitalization of $4.75 billion and a price-to-earnings ratio of 11.41. The firm has a 50 day moving average price of $10.78. Blue Owl Technology Finance Corp. has a 1-year low of $10.08 and a 1-year high of $15.82.

Blue Owl Technology Finance (NYSE:OTF) last announced its 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). 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 prior year, the business posted $0.41 EPS. Equities analysts expect 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 declared 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 of this dividend is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.6%. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio is currently 155.56%.

Insiders Place Their Bets

In other Blue Owl Technology Finance news, Director Melissa Weiler acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at $109,000. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Chris Temple acquired 7,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $10.71 per share, with a total value of $74,970.00. Following the transaction, the director owned 12,000 shares of the company’s stock, valued at approximately $128,520. This trade represents a 140.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 18,000 shares of company stock worth $194,710. Corporate insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on OTF shares. Royal Bank Of Canada lowered their price objective 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. 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. Citizens Jmp cut their price target 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. Truist Financial reduced their price objective 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. Finally, Wells Fargo & Company decreased 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 note on Friday, May 8th. Three 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.