Blue Owl Technology Finance (NYSE:OTF) Director Purchases 1,000 Shares

Key Points

• Director Eric Kaye purchased 1,000 shares of Blue Owl Technology Finance at an average price of $11.37, increasing his holdings by 50% to 3,000 shares.
• Blue Owl Technology Finance reported quarterly EPS of $0.33, exceeding the $0.31 consensus estimate, on revenue of $279.54 million.
• The company raised its quarterly dividend to $0.35 per share, or $1.40 annualized, implying a 12.0% yield; analysts maintain a “Moderate Buy” consensus with a $13.60 average price target.

Blue Owl Technology Finance Corp. (NYSE:OTF - Get Free Report) Director Eric Kaye acquired 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The shares were purchased at an average price of $11.37 per share, with a total value of $11,370.00. Following the completion of the acquisition, the director owned 3,000 shares of the company's stock, valued at $34,110. This represents a 50.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Blue Owl Technology Finance Stock Performance

NYSE OTF traded up $0.32 during trading on Monday, hitting $11.70. The stock had a trading volume of 2,928,888 shares, compared to its average volume of 2,319,663. The company has a market capitalization of $5.36 billion, a PE ratio of 14.62 and a beta of -0.86. The company's 50-day moving average price is $10.62 and its two-hundred day moving average price is $11.23. Blue Owl Technology Finance Corp. has a 12 month low of $9.75 and a 12 month high of $15.82.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. The company had revenue of $279.54 million during the quarter. During the same period in the prior year, the business earned $0.45 earnings per share. As a group, equities analysts anticipate that Blue Owl Technology Finance Corp. will post 1.25 earnings per share for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 12.0%. This is an increase from Blue Owl Technology Finance's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 30th. Blue Owl Technology Finance's payout ratio is 175.00%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of 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. Citizens Jmp lifted their target price on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a "market outperform" rating in a research report on Friday, August 7th. Zacks Research upgraded Blue Owl Technology Finance from a "strong sell" rating to a "hold" rating in a report on Wednesday, June 10th. Citigroup reissued an "outperform" rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th. Finally, Wells Fargo & Company decreased their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $13.60.

Institutional Trading of Blue Owl Technology Finance

A number of large investors have recently added to or reduced their stakes in OTF. Clearstead Advisors LLC acquired a new position in shares of Blue Owl Technology Finance during the 4th quarter worth about $124,000. Kestra Advisory Services LLC acquired a new stake in Blue Owl Technology Finance in the 4th quarter valued at about $128,000. Abel Hall LLC bought a new position in Blue Owl Technology Finance during the first quarter worth about $124,000. Onyx Bridge Wealth Group LLC bought a new position in Blue Owl Technology Finance during the fourth quarter worth about $150,000. Finally, Integrity Financial Corp WA acquired a new position in Blue Owl Technology Finance during the second quarter worth approximately $123,000.

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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