Stephens Inc. AR Boosts Stock Position in Blue Owl Technology Finance Corp. $OTF

Key Points

• Stephens Inc. AR increased its stake in Blue Owl Technology Finance Corp. by 57.6% in the first quarter, buying 325,508 additional shares and bringing its total holding to 890,862 shares worth about $11.0 million.
• Blue Owl Technology Finance recently raised its quarterly dividend to $0.35 per share, implying an annualized yield of about 13.3%, though its payout ratio is high at 155.56%.
• Analysts remain mixed but constructive: the stock has a Moderate Buy consensus with an average target price of $13.40, even as some firms trimmed targets and one upgraded the stock to hold.

Stephens Inc. AR increased its position in Blue Owl Technology Finance Corp. (NYSE:OTF - Free Report) by 57.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 890,862 shares of the company's stock after buying an additional 325,508 shares during the quarter. Stephens Inc. AR owned 0.19% of Blue Owl Technology Finance worth $11,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Blue Owl Technology Finance in the 4th quarter worth approximately $44,000. Clearstead Advisors LLC bought a new stake in Blue Owl Technology Finance in the fourth quarter worth $124,000. Kestra Advisory Services LLC bought a new stake in Blue Owl Technology Finance in the fourth quarter worth $128,000. Cornerstone Partners Capital Management LLC purchased a new stake in Blue Owl Technology Finance during the fourth quarter valued at about $146,000. Finally, Keybank National Association OH bought a new position in shares of Blue Owl Technology Finance during the first quarter valued at about $148,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Truist Financial lowered their target price on Blue Owl Technology Finance from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. 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 report on Tuesday, May 12th. Citizens Jmp dropped their price target on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada cut their price target 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 equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $13.40.

Blue Owl Technology Finance Price Performance

Shares of Blue Owl Technology Finance stock traded up $0.20 during trading on Tuesday, hitting $10.56. The company's stock had a trading volume of 355,771 shares, compared to its average volume of 2,201,927. The business's fifty day moving average price is $10.89. The firm has a market capitalization of $4.89 billion and a P/E ratio of 11.73. Blue Owl Technology Finance Corp. has a 52 week low of $10.13 and a 52 week high of $15.82.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.02). The business had revenue of $222.12 million for the quarter. Blue Owl Technology Finance had a return on equity of 7.43% and a net margin of 32.78%.During the same quarter in the prior year, the firm earned $0.41 earnings per share. As a group, equities research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.3%. This is an increase from Blue Owl Technology Finance's previous quarterly dividend of $0.05. Blue Owl Technology Finance's payout ratio is presently 155.56%.

Insider Buying and Selling

In related news, Director Melissa Weiler acquired 10,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chris Temple bought 7,000 shares of the company's stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $10.71 per share, for a total transaction of $74,970.00. Following the completion of the acquisition, the director directly owned 12,000 shares of the company's stock, valued at approximately $128,520. This represents a 140.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 18,000 shares of company stock worth $194,710. Insiders own 0.05% of the company's stock.

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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