Blue Owl Technology Finance Corp. $OTF Shares Purchased by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management increased its stake in Blue Owl Technology Finance by 34.2% in the fourth quarter, buying 159,060 additional shares and bringing its holdings to 624,044 shares valued at about $9.1 million.
• The company reported mixed quarterly results, with EPS of $0.29 missing analyst estimates of $0.31, though revenue came in at $222.1 million and analysts still expect full-year EPS of 1.26.
• Blue Owl Technology Finance raised its quarterly dividend to $0.35 per share from $0.05, implying a $1.40 annualized payout and a 13.7% yield, even as its payout ratio stands at 155.56%.

Rockefeller Capital Management L.P. boosted its position in Blue Owl Technology Finance Corp. (NYSE:OTF - Free Report) by 34.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 624,044 shares of the company's stock after buying an additional 159,060 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.13% of Blue Owl Technology Finance worth $9,074,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Orange County Employees Retirement System acquired a new stake in shares of Blue Owl Technology Finance in the 4th quarter worth $116,497,000. Requisite Capital Management LLC increased its stake in shares of Blue Owl Technology Finance by 141.2% during the fourth quarter. Requisite Capital Management LLC now owns 674,624 shares of the company's stock worth $10,078,000 after acquiring an additional 394,895 shares during the period. Bayshore Capital Advisors LLC purchased a new position in Blue Owl Technology Finance during the fourth quarter worth about $2,220,000. Stephens Inc. AR purchased a new position in Blue Owl Technology Finance during the fourth quarter worth about $8,220,000. Finally, Caz Investments LP lifted its position in Blue Owl Technology Finance by 72.2% in the fourth quarter. Caz Investments LP now owns 1,159,339 shares of the company's stock valued at $16,857,000 after purchasing an additional 486,172 shares during the period.

Blue Owl Technology Finance Stock Up 0.2%

Shares of OTF opened at $10.24 on Friday. The business's 50-day moving average is $11.07. Blue Owl Technology Finance Corp. has a twelve month low of $10.13 and a twelve month high of $16.10. The firm has a market capitalization of $4.74 billion and a price-to-earnings ratio of 11.38.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last posted its quarterly 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 company had revenue of $222.12 million for 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 last year, the firm posted $0.41 EPS. Sell-side analysts predict that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. This is a boost from Blue Owl Technology Finance's previous quarterly dividend of $0.05. This represents a $1.40 annualized dividend and a yield of 13.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Blue Owl Technology Finance's payout ratio is presently 155.56%.

Insider Buying and Selling at Blue Owl Technology Finance

In other news, Director Chris Temple purchased 7,000 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was 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 in the company, valued at $128,520. This represents a 140.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Melissa Weiler purchased 10,000 shares of the business'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 purchase, the director directly owned 10,000 shares in the company, valued at approximately $109,000. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 18,000 shares of company stock valued at $194,710. 0.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OTF shares. Keefe, Bruyette & Woods lowered 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 report on Tuesday, May 12th. Citizens Jmp reduced 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 decreased 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 note on Tuesday, May 19th. Wells Fargo & Company dropped 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, Zacks Research raised Blue Owl Technology Finance from a "strong sell" rating to a "hold" rating in a report on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.40.

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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