Sanctuary Advisors LLC Boosts Stake in Blue Owl Technology Finance Corp. $OTF

Key Points

• Sanctuary Advisors LLC increased its Blue Owl Technology Finance stake by 89.5% in the first quarter, ending with 283,099 shares valued at about $3.51 million.
• Several other institutions also added to or initiated positions, while insiders bought shares too; directors Chris Temple and Melissa Weiler made purchases totaling 18,000 shares over the last three months.
• Blue Owl Technology Finance reported Q1 EPS of $0.29, missing estimates, but it also raised its quarterly dividend to $0.35 per share, implying a high annualized yield of 13.8%.

Sanctuary Advisors LLC lifted its position in Blue Owl Technology Finance Corp. (NYSE:OTF - Free Report) by 89.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 283,099 shares of the company's stock after acquiring an additional 133,722 shares during the period. Sanctuary Advisors LLC owned 0.06% of Blue Owl Technology Finance worth $3,508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in OTF. Diversify Wealth Management LLC boosted its position in shares of Blue Owl Technology Finance by 871.9% during the first quarter. Diversify Wealth Management LLC now owns 155,697 shares of the company's stock valued at $1,929,000 after purchasing an additional 139,677 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in Blue Owl Technology Finance by 39.1% in 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in Blue Owl Technology Finance in the first quarter worth $3,202,000. Kathmere Capital Management LLC purchased a new position in Blue Owl Technology Finance during the first quarter valued at $182,000. Finally, Abel Hall LLC purchased a new position in Blue Owl Technology Finance during the first quarter valued at $124,000.

Insider Activity

In other news, Director Chris Temple acquired 7,000 shares of Blue Owl Technology Finance stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of $10.71 per share, for a total transaction of $74,970.00. Following the purchase, the director owned 12,000 shares in the company, valued at $128,520. This trade represents a 140.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Melissa Weiler bought 10,000 shares of the firm's stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $10.90 per share, with a total value of $109,000.00. Following the completion of the acquisition, the director directly owned 10,000 shares of the company's stock, valued at approximately $109,000. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 18,000 shares of company stock worth $194,710 over the last three months. 0.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OTF. Zacks Research upgraded shares of Blue Owl Technology Finance from a "strong sell" rating to a "hold" rating in a report on Wednesday, June 10th. Keefe, Bruyette & Woods lowered their price target on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set a "market perform" rating for the company in a research report on Tuesday, May 12th. Truist Financial dropped their price objective on shares of 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. Citizens Jmp dropped their price objective on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 22nd. Finally, Royal Bank Of Canada cut their price objective on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a "sector perform" rating on the stock in a report on Monday, May 18th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $13.40.

Blue Owl Technology Finance Stock Up 0.1%

Shares of NYSE:OTF opened at $10.12 on Monday. The company's fifty day moving average is $10.72. Blue Owl Technology Finance Corp. has a 12-month low of $10.06 and a 12-month high of $15.82. The stock has a market capitalization of $4.68 billion and a PE ratio of 11.24.

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). Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.The company had revenue of $222.12 million during the quarter. During the same quarter in the prior year, the company posted $0.41 earnings per share. 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 was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.35 per share. This is a positive change from Blue Owl Technology Finance's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.40 annualized dividend and a yield of 13.8%. Blue Owl Technology Finance's payout ratio is currently 155.56%.

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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