Stephens Inc. AR Buys Shares of 565,354 Blue Owl Technology Finance Corp. $OTF

Key Points

• Stephens Inc. AR disclosed a new fourth-quarter stake in Blue Owl Technology Finance, buying 565,354 shares valued at about $8.22 million.
• The company reported mixed operating results: Q2 earnings missed estimates at $0.29 per share versus $0.31 expected, while analysts currently see 1.26 EPS for the full year.
• Blue Owl Technology Finance raised its quarterly dividend to $0.35 per share from $0.05, and its board also authorized a $300 million share buyback program.

Stephens Inc. AR bought a new stake in shares of Blue Owl Technology Finance Corp. (NYSE:OTF - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 565,354 shares of the company's stock, valued at approximately $8,220,000. Stephens Inc. AR owned approximately 0.12% of Blue Owl Technology Finance as of its most recent SEC filing.

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 Blue Owl Technology Finance during the 4th quarter valued at $44,000. Cornerstone Partners Capital Management LLC purchased a new position in shares of Blue Owl Technology Finance in the 4th quarter valued at $146,000. QP Wealth Management LLC purchased a new position in shares of Blue Owl Technology Finance in the 4th quarter valued at $168,000. Norden Group LLC purchased a new position in shares of Blue Owl Technology Finance in the 4th quarter valued at $169,000. Finally, PFG Investments LLC purchased a new position in shares of Blue Owl Technology Finance in the 4th quarter valued at $170,000.

Blue Owl Technology Finance Trading Down 0.2%

Shares of OTF stock opened at $11.14 on Friday. Blue Owl Technology Finance Corp. has a 1-year low of $10.67 and a 1-year high of $21.62. The stock's fifty day simple moving average is $11.67. The stock has a market cap of $5.15 billion and a P/E ratio of 12.38.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last announced 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 business had revenue of $325.94 million for the quarter. During the same quarter last year, the business posted $0.41 EPS. Sell-side analysts predict that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid 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 is Tuesday, June 30th. This represents a $1.40 annualized dividend and a yield of 12.6%. Blue Owl Technology Finance's dividend payout ratio (DPR) is presently 155.56%.

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

Analyst Upgrades and Downgrades

OTF has been the topic of a number of analyst reports. Citizens Jmp cut their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods cut their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set a "market perform" rating on the stock in a report on Tuesday, May 12th. Zacks Research downgraded Blue Owl Technology Finance from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 12th. Wells Fargo & Company cut their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Finally, Truist Financial cut their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $14.00.

Insider Buying and Selling at Blue Owl Technology Finance

In other Blue Owl Technology Finance news, Director Melissa Weiler bought 10,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at $109,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Chris Temple bought 5,000 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at $57,450. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 17,000 shares of company stock worth $188,630. 0.05% of the stock is owned by company insiders.

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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