Laura & John Arnold Foundation Makes New $12.42 Million Investment in Blue Owl Technology Finance Corp. $OTF

Key Points

• Laura & John Arnold Foundation bought 1.2 million shares of Blue Owl Technology Finance, valued at approximately $12.42 million, making OTF its fifth-largest portfolio holding and representing 0.26% of the company.
• Blue Owl Technology Finance reported quarterly EPS of $0.33, beating analyst estimates of $0.31, on revenue of $279.54 million. The stock opened at $11.12 and has traded between $9.75 and $15.82 over the past year.
• The company increased its quarterly dividend to $0.35 per share, implying a 12.6% annualized yield, while analysts maintain a “Moderate Buy” consensus with an average price target of $13.60.

Laura & John Arnold Foundation purchased a new position in shares of Blue Owl Technology Finance Corp. (NYSE:OTF - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,200,000 shares of the company's stock, valued at approximately $12,420,000. Blue Owl Technology Finance accounts for about 3.8% of Laura & John Arnold Foundation's portfolio, making the stock its 5th largest holding. Laura & John Arnold Foundation owned 0.26% of Blue Owl Technology Finance as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System purchased a new stake in shares of Blue Owl Technology Finance in the first quarter valued at about $250,556,000. Orange County Employees Retirement System purchased a new position in Blue Owl Technology Finance during the fourth quarter worth about $116,497,000. Capricorn Investment Group LLC acquired a new position in Blue Owl Technology Finance in the 4th quarter valued at about $78,915,000. Rivernorth Capital Management LLC boosted its holdings in Blue Owl Technology Finance by 12.5% in the 1st quarter. Rivernorth Capital Management LLC now owns 2,176,269 shares of the company's stock valued at $26,964,000 after purchasing an additional 241,543 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of 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 valued at $25,507,000 after buying an additional 1,753,127 shares during the period.

Blue Owl Technology Finance Price Performance

Shares of OTF stock opened at $11.12 on Tuesday. The firm has a market cap of $5.10 billion, a PE ratio of 13.91 and a beta of -0.86. The company has a 50-day moving average of $10.58 and a two-hundred day moving average of $11.26. Blue Owl Technology Finance Corp. has a 1-year low of $9.75 and a 1-year high of $15.82.

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

Blue Owl Technology Finance Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on OTF shares. Royal Bank Of Canada restated a "sector perform" rating and set a $12.00 price target on shares of Blue Owl Technology Finance in a report on Monday, August 17th. Citizens Jmp upped their price objective on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a "market outperform" rating in a report on Friday, August 7th. Citigroup reiterated an "outperform" rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th. Zacks Research raised Blue Owl Technology Finance from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 10th. Finally, Wells Fargo & Company reduced their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Blue Owl Technology Finance presently has a consensus rating of "Moderate Buy" and an average target price of $13.60.

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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