Requisite Capital Management LLC Grows Holdings in Blue Owl Technology Finance Corp. $OTF

Key Points

• Requisite Capital Management LLC boosted its stake in Blue Owl Technology Finance Corp. by 141.2% in the fourth quarter, ending with 674,624 shares valued at about $10.1 million.
• Insider buying included director Melissa Weiler purchasing 10,000 shares and director Chris Temple buying 5,000 shares, bringing total insider purchases last quarter to 17,000 shares.
• Blue Owl Technology Finance missed earnings expectations for the latest quarter, and analysts remain cautious overall with a Hold consensus and a $14.00 average price target, even as the company authorized a $300 million buyback and raised its quarterly dividend to $0.35.

Requisite Capital Management LLC increased its stake in shares of Blue Owl Technology Finance Corp. (NYSE:OTF - Free Report) by 141.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 674,624 shares of the company's stock after purchasing an additional 394,895 shares during the quarter. Blue Owl Technology Finance accounts for 1.9% of Requisite Capital Management LLC's holdings, making the stock its 9th biggest holding. Requisite Capital Management LLC owned approximately 0.14% of Blue Owl Technology Finance worth $10,078,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Stephens Inc. AR bought a new position in shares of Blue Owl Technology Finance during the 4th quarter valued at approximately $8,220,000. Bayshore Capital Advisors LLC bought a new position in Blue Owl Technology Finance in the 4th quarter valued at $2,220,000. World Investment Advisors grew its position in Blue Owl Technology Finance by 51.4% in the 4th quarter. World Investment Advisors now owns 137,343 shares of the company's stock valued at $1,997,000 after acquiring an additional 46,655 shares during the last quarter. NewEdge Wealth LLC grew its position in Blue Owl Technology Finance by 3.3% in the 4th quarter. NewEdge Wealth LLC now owns 69,925 shares of the company's stock valued at $1,017,000 after acquiring an additional 2,218 shares during the last quarter. Finally, Denali Advisors LLC bought a new position in Blue Owl Technology Finance in the 4th quarter valued at $1,576,000.

Insider Buying and Selling at Blue Owl Technology Finance

In other news, Director Melissa Weiler bought 10,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the acquisition, the director owned 10,000 shares of the company's stock, valued at $109,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Chris Temple bought 5,000 shares of the stock in a transaction on Wednesday, February 25th. The stock was purchased at an average price of $11.49 per share, with a total value of $57,450.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $57,450. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 17,000 shares of company stock valued at $188,630 over the last quarter. Company insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on OTF shares. Citizens Jmp cut their price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 22nd. Zacks Research downgraded Blue Owl Technology Finance from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 12th. Wells Fargo & Company cut their price objective 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. Truist Financial cut their price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, February 23rd. Finally, Keefe, Bruyette & Woods cut 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 research report on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $14.00.

Blue Owl Technology Finance Stock Down 0.3%

Shares of Blue Owl Technology Finance stock opened at $11.14 on Monday. Blue Owl Technology Finance Corp. has a 52 week low of $10.67 and a 52 week high of $21.62. The company has a market cap of $5.15 billion and a P/E ratio of 12.38. The firm has a fifty day simple moving average of $11.67.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last issued 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 return on equity of 7.43% and a net margin of 32.78%.The firm had revenue of $325.94 million during the quarter. During the same period last year, the company earned $0.41 EPS. On average, equities analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current year.

Blue Owl Technology Finance announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 18th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Blue Owl Technology Finance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders 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 annualized dividend and a dividend yield of 12.6%. This is a positive change from Blue Owl Technology Finance's previous quarterly dividend of $0.05. Blue Owl Technology Finance's dividend payout ratio (DPR) is currently 155.56%.

About Blue Owl Technology Finance

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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