Sanctuary Advisors LLC Acquires 98,812 Shares of Blue Owl Technology Finance Corp. $OTF

Key Points

• Sanctuary Advisors LLC boosted its stake in Blue Owl Technology Finance by 195.4%, buying 98,812 shares to hold 149,377 shares worth about $2.17M, and several other institutional investors (plus director Chris Temple, who bought 5,000 shares) also added positions.
• The board authorized a $300 million share buyback (up to 5.1% of outstanding shares) and the company raised its quarterly dividend to $0.35 (annualized $1.40), producing a 12.1% yield after a prior quarterly payout of $0.05.
• Recent results were mixed: Q4 EPS of $0.30 missed estimates ($0.32) and revenue of $223.5M trailed expectations, while analysts have trimmed targets yet maintain a consensus "Moderate Buy" with an average target of $14.50.

Sanctuary Advisors LLC increased its holdings in Blue Owl Technology Finance Corp. (NYSE:OTF - Free Report) by 195.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 149,377 shares of the company's stock after buying an additional 98,812 shares during the quarter. Sanctuary Advisors LLC's holdings in Blue Owl Technology Finance were worth $2,172,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OTF. Blue Trust Inc. increased its holdings in Blue Owl Technology Finance by 141.6% in the 4th quarter. Blue Trust Inc. now owns 126,897 shares of the company's stock worth $1,845,000 after buying an additional 74,370 shares in the last quarter. Pallas Capital Advisors LLC increased its holdings in Blue Owl Technology Finance by 642.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company's stock worth $1,243,000 after buying an additional 73,966 shares in the last quarter. CWM LLC increased its holdings in Blue Owl Technology Finance by 177.1% in the 4th quarter. CWM LLC now owns 92,208 shares of the company's stock worth $1,341,000 after buying an additional 58,935 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in Blue Owl Technology Finance by 260.2% in the 4th quarter. Apollon Wealth Management LLC now owns 72,751 shares of the company's stock worth $1,058,000 after buying an additional 52,551 shares in the last quarter. Finally, TrueMark Investments LLC bought a new stake in Blue Owl Technology Finance in the 4th quarter worth about $654,000.

Insider Buying and Selling at Blue Owl Technology Finance

In related news, Director Chris Temple acquired 5,000 shares of the stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average cost of $11.49 per share, with a total value of $57,450.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $57,450. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.05% of the stock is currently owned by insiders.

Blue Owl Technology Finance Trading Up 1.7%

Blue Owl Technology Finance stock opened at $11.58 on Friday. The company's 50-day moving average price is $11.74. The company has a market cap of $5.34 billion and a P/E ratio of 6.81. Blue Owl Technology Finance Corp. has a 52-week low of $10.67 and a 52-week high of $21.62.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.02). The firm had revenue of $223.52 million for the quarter, compared to the consensus estimate of $326.27 million. Blue Owl Technology Finance had a net margin of 62.89% and a return on equity of 6.91%. On average, equities research analysts forecast that Blue Owl Technology Finance Corp. will post 1.31 EPS for the current fiscal year.

Blue Owl Technology Finance declared that its board has authorized a share buyback plan on Wednesday, February 18th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Blue Owl Technology Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.1%. This is an increase from Blue Owl Technology Finance's previous quarterly dividend of $0.05. Blue Owl Technology Finance's dividend payout ratio is presently 82.35%.

Analysts Set New Price Targets

OTF has been the subject of several research analyst reports. Keefe, Bruyette & Woods reduced their price objective on Blue Owl Technology Finance from $16.00 to $13.00 and set a "market perform" rating for the company in a report on Monday, February 23rd. Zacks Research upgraded Blue Owl Technology Finance from a "strong sell" rating to a "hold" rating in a report on Monday, January 26th. Truist Financial cut their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, February 23rd. Citizens Jmp cut 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 research note on Wednesday, April 22nd. Finally, Wells Fargo & Company cut their price target on Blue Owl Technology Finance from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Friday, February 20th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Blue Owl Technology Finance presently has a consensus rating of "Moderate Buy" and an average target price of $14.50.

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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