Blue Owl Technology Finance Corp. $OTF Shares Acquired by Diversify Wealth Management LLC

Key Points

• Diversify Wealth Management LLC dramatically increased its Blue Owl Technology Finance stake by 871.9% in the first quarter, bringing its holdings to 155,697 shares worth about $1.93 million.
• Blue Owl Technology Finance reported Q1 EPS of $0.29, missing analyst expectations of $0.31, while analysts currently have a Moderate Buy consensus and an average price target of $13.40.
• The company declared a quarterly dividend of $0.35 per share, a sharp increase from $0.05 previously, implying an annualized yield of 13.6% and highlighting a very high payout ratio of 155.56%.

Diversify Wealth Management LLC raised its stake in shares of Blue Owl Technology Finance Corp. (NYSE:OTF - Free Report) by 871.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of OTF. Kestra Advisory Services LLC raised its stake in shares of Blue Owl Technology Finance by 39.1% during the first quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company's stock worth $152,000 after purchasing an additional 3,443 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in Blue Owl Technology Finance in the 1st quarter valued at $3,202,000. Kathmere Capital Management LLC purchased a new position in Blue Owl Technology Finance in the 1st quarter valued at $182,000. Abel Hall LLC acquired a new position in Blue Owl Technology Finance in the 1st quarter valued at $124,000. Finally, Whittier Trust Co. increased its stake in 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 valued at $725,000 after buying an additional 62,652 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OTF shares. Royal Bank Of Canada reduced their target price 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 note on Monday, May 18th. Keefe, Bruyette & Woods dropped their price target on shares of 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. Zacks Research upgraded shares of Blue Owl Technology Finance from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 10th. Citizens Jmp cut their price target 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. Finally, Wells Fargo & Company reduced their price objective on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $13.40.

Blue Owl Technology Finance Price Performance

Shares of OTF stock opened at $10.27 on Wednesday. The business's fifty day simple moving average is $10.78. The firm has a market capitalization of $4.75 billion and a price-to-earnings ratio of 11.41. 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 - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.02). The business had revenue of $222.12 million during the quarter. Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. During the same period in the prior year, the business posted $0.41 earnings per share. On average, equities research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.35 dividend. The ex-dividend date 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 payout ratio is 155.56%.

Insider Activity

In related news, Director Melissa Weiler acquired 10,000 shares of Blue Owl Technology Finance stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company's stock, valued at approximately $109,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chris Temple acquired 7,000 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of $10.71 per share, for a total transaction of $74,970.00. Following the acquisition, the director owned 12,000 shares of the company's stock, valued at $128,520. This represents a 140.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 18,000 shares of company stock valued at $194,710 in the last quarter. Company insiders own 0.05% of the company's stock.

Blue Owl Technology Finance 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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