Alpine Global Management LLC Raises Stock Position in Blue Owl Technology Finance Corp. $OTF

Alpine Global Management LLC lifted its stake in Blue Owl Technology Finance Corp. (NYSE:OTF - Free Report) by 421.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,271 shares of the company's stock after buying an additional 105,271 shares during the quarter. Alpine Global Management LLC's holdings in Blue Owl Technology Finance were worth $1,894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OTF. Orange County Employees Retirement System purchased a new position in Blue Owl Technology Finance during the fourth quarter valued at approximately $116,497,000. Capricorn Investment Group LLC acquired a new position in Blue Owl Technology Finance in the fourth quarter valued at approximately $78,915,000. Rivernorth Capital Management LLC boosted its position in Blue Owl Technology Finance by 374.2% in the 4th quarter. Rivernorth Capital Management LLC now owns 1,934,726 shares of the company's stock worth $28,131,000 after purchasing an additional 1,526,695 shares in the last quarter. Franklin Resources Inc. boosted its position in Blue Owl Technology Finance by 155,006.8% in the 4th quarter. Franklin Resources Inc. now owns 1,754,258 shares of the company's stock worth $25,507,000 after purchasing an additional 1,753,127 shares in the last quarter. Finally, Caz Investments LP grew its stake in shares of 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 purchasing an additional 486,172 shares during the period.

Blue Owl Technology Finance Trading Down 1.1%

OTF stock opened at $10.65 on Friday. Blue Owl Technology Finance Corp. has a 12-month low of $10.48 and a 12-month high of $16.10. The firm has a market cap of $4.93 billion and a PE ratio of 11.84. The business has a 50-day moving average price of $11.17.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share 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 $222.12 million during the quarter. During the same quarter in the previous year, the business posted $0.41 EPS. As a group, equities research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Blue Owl Technology Finance's previous quarterly dividend of $0.05. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.1%. Blue Owl Technology Finance's payout ratio is currently 155.56%.

Analyst Upgrades and Downgrades

OTF has been the topic of a number of recent analyst reports. 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 objective on shares of 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. Royal Bank Of Canada decreased their price objective on shares of 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. Wells Fargo & Company lowered their target price on shares of 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. Finally, Keefe, Bruyette & Woods dropped their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 12th. Three research 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.com, Blue Owl Technology Finance has a consensus rating of "Moderate Buy" and an average target price of $13.40.

Insider Transactions at Blue Owl Technology Finance

In other Blue Owl Technology Finance news, Director Melissa Weiler purchased 10,000 shares of the firm's stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost 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 in the company, valued at approximately $109,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Chris Temple purchased 7,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of $10.71 per share, for a total transaction of $74,970.00. Following the completion of the transaction, the director directly owned 12,000 shares of the company's stock, valued at $128,520. The trade was a 140.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 18,000 shares of company stock valued at $194,710 over the last quarter. Company insiders own 0.05% of the company's stock.

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.

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