Blue Owl Technology Finance Corp. (NYSE:OTF - Get Free Report) Director Eric Kaye bought 1,000 shares of the company's stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average cost of $11.37 per share, for a total transaction of $11,370.00. Following the transaction, the director directly owned 3,000 shares of the company's stock, valued at $34,110. This trade represents a 50.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Blue Owl Technology Finance Price Performance
NYSE:OTF opened at $11.70 on Tuesday. Blue Owl Technology Finance Corp. has a one year low of $9.75 and a one year high of $15.82. The company has a fifty day moving average price of $10.64 and a 200 day moving average price of $11.22. The stock has a market cap of $5.36 billion, a P/E ratio of 14.62 and a beta of -0.86.
Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) 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 for the quarter. During the same quarter in the prior year, the business earned $0.45 earnings per share. As a group, equities research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.25 EPS for the current year.
Blue Owl Technology Finance Increases Dividend
The company 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 dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 12.0%. This is a boost 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 dividend payout ratio (DPR) is 175.00%.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. Zacks Research raised 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 objective on 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. Truist Financial cut 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $12.00 target price on shares of Blue Owl Technology Finance in a research report on Monday, August 17th. Finally, Citigroup reiterated an "outperform" rating on shares of Blue Owl Technology Finance in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $13.60.
View Our Latest Analysis on OTF
Institutional Investors Weigh In On Blue Owl Technology Finance
Hedge funds have recently made changes to their positions in the company. NewEdge Wealth LLC boosted its position in Blue Owl Technology Finance by 3.3% in the fourth quarter. NewEdge Wealth LLC now owns 69,925 shares of the company's stock valued at $1,017,000 after buying an additional 2,218 shares in the last quarter. Lido Advisors LLC increased its holdings in shares of Blue Owl Technology Finance by 22.6% during the fourth quarter. Lido Advisors LLC now owns 14,545 shares of the company's stock worth $208,000 after buying an additional 2,683 shares in the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Blue Owl Technology Finance by 39.1% during the first quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company's stock worth $152,000 after buying an additional 3,443 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Blue Owl Technology Finance by 41.4% in the fourth quarter. Blair William & Co. IL now owns 14,807 shares of the company's stock valued at $215,000 after acquiring an additional 4,334 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Blue Owl Technology Finance by 31.6% in the first quarter. Janney Montgomery Scott LLC now owns 33,321 shares of the company's stock valued at $413,000 after acquiring an additional 8,010 shares during the last quarter.
About Blue Owl Technology Finance
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
