Whittier Trust Co. Has $725,000 Stock Holdings in Blue Owl Technology Finance Corp. $OTF

Whittier Trust Co. increased its holdings in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) by 4,764.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,967 shares of the company’s stock after acquiring an additional 62,652 shares during the quarter. Whittier Trust Co.’s holdings in Blue Owl Technology Finance were worth $725,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of OTF. QP Wealth Management LLC acquired a new position in Blue Owl Technology Finance in the 4th quarter valued at $168,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Blue Owl Technology Finance by 137.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,992 shares of the company’s stock worth $1,044,000 after purchasing an additional 42,888 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Blue Owl Technology Finance during the 4th quarter worth $169,000. Pallas Capital Advisors LLC increased its position in shares of Blue Owl Technology Finance by 642.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock worth $1,243,000 after purchasing an additional 73,966 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. increased its position in shares of Blue Owl Technology Finance by 121.0% in the fourth quarter. Generali Investments CEE investicni spolecnost a.s. now owns 48,426 shares of the company’s stock worth $704,000 after purchasing an additional 26,510 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on OTF shares. Wells Fargo & Company reduced their target price 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. Royal Bank Of Canada dropped their price objective on Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a research report on Monday, May 18th. Truist Financial reduced their price objective on 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. Keefe, Bruyette & Woods lowered their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Tuesday, May 12th. Finally, Zacks Research raised shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Blue Owl Technology Finance has a consensus rating of “Moderate Buy” and an average target price of $13.40.

Insider Buying and Selling at Blue Owl Technology Finance

In other news, Director Chris Temple bought 7,000 shares of Blue Owl Technology Finance stock in a transaction dated Friday, May 22nd. The stock was purchased at an average price of $10.71 per share, for a total transaction of $74,970.00. Following the purchase, the director directly owned 12,000 shares in the company, valued at $128,520. The trade was a 140.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Melissa Weiler acquired 10,000 shares of Blue Owl Technology Finance 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 transaction, the director directly owned 10,000 shares in the company, valued at $109,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 18,000 shares of company stock valued at $194,710 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

Blue Owl Technology Finance Price Performance

Shares of NYSE:OTF opened at $10.19 on Thursday. Blue Owl Technology Finance Corp. has a 1 year low of $10.11 and a 1 year high of $15.82. The company has a 50-day simple moving average of $10.86. The firm has a market cap of $4.71 billion and a P/E ratio of 11.32.

Blue Owl Technology Finance (NYSE:OTF) last issued its earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The company 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 previous year, the company posted $0.41 earnings per share. Research 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 13.7%. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, June 30th. Blue Owl Technology Finance’s dividend payout ratio is currently 155.56%.

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.