1,200,000 Shares in Blue Owl Technology Finance Corp. $OTF Purchased by Laura & John Arnold Foundation

Laura & John Arnold Foundation bought a new stake in Blue Owl Technology Finance Corp. (NYSE:OTF) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 1,200,000 shares of the company’s stock, valued at approximately $12,420,000. Blue Owl Technology Finance comprises approximately 3.8% of Laura & John Arnold Foundation’s portfolio, making the stock its 5th biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of OTF. Clearstead Advisors LLC purchased a new stake in Blue Owl Technology Finance during the 4th quarter worth about $124,000. Kestra Advisory Services LLC acquired a new stake in Blue Owl Technology Finance during the 4th quarter worth $128,000. Abel Hall LLC acquired a new stake in shares of Blue Owl Technology Finance during the first quarter worth about $124,000. Onyx Bridge Wealth Group LLC acquired a new stake in shares of Blue Owl Technology Finance during the fourth quarter worth about $150,000. Finally, Wealth Architects LLC purchased a new position in shares of Blue Owl Technology Finance during the fourth quarter worth about $167,000.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Truist Financial reduced their price objective 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. Royal Bank Of Canada reiterated a “sector perform” rating and set a $12.00 price target on shares of Blue Owl Technology Finance in a research note on Monday, August 17th. Keefe, Bruyette & Woods reduced their price objective 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 report on Tuesday, May 12th. Wells Fargo & Company lowered their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Citigroup reiterated an “outperform” rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Blue Owl Technology Finance currently has a consensus rating of “Moderate Buy” and an average target price of $13.60.

Blue Owl Technology Finance Stock Up 1.5%

NYSE:OTF opened at $11.12 on Tuesday. The firm’s fifty day simple moving average is $10.58 and its 200-day simple moving average is $11.26. The stock has a market cap of $5.10 billion, a PE ratio of 13.91 and a beta of -0.86. Blue Owl Technology Finance Corp. has a fifty-two week low of $9.75 and a fifty-two week high of $15.82.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $279.54 million during the quarter. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. During the same quarter last year, the business earned $0.45 EPS. Equities analysts anticipate that Blue Owl Technology Finance Corp. will post 1.25 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 12.6%. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 30th. Blue Owl Technology Finance’s dividend payout ratio is 175.00%.

Blue Owl Technology Finance Company 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.