California State Teachers Retirement System Makes New Investment in Blue Owl Technology Finance Corp. $OTF

California State Teachers Retirement System purchased a new position in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 20,222,455 shares of the company’s stock, valued at approximately $250,556,000.

Other large investors have also made changes to their positions in the company. Orange County Employees Retirement System purchased a new stake in Blue Owl Technology Finance during the fourth quarter worth about $116,497,000. Capricorn Investment Group LLC purchased a new position in Blue Owl Technology Finance in the fourth quarter valued at about $78,915,000. Rivernorth Capital Management LLC lifted its position in shares of Blue Owl Technology Finance by 12.5% during the 1st quarter. Rivernorth Capital Management LLC now owns 2,176,269 shares of the company’s stock valued at $26,964,000 after acquiring an additional 241,543 shares during the period. Franklin Resources Inc. boosted its stake in shares of Blue Owl Technology Finance by 155,006.8% during the 4th quarter. Franklin Resources Inc. now owns 1,754,258 shares of the company’s stock worth $25,507,000 after acquiring an additional 1,753,127 shares in the last quarter. Finally, Caz Investments LP boosted its stake in shares of Blue Owl Technology Finance by 72.2% during the 4th quarter. Caz Investments LP now owns 1,159,339 shares of the company’s stock worth $16,857,000 after acquiring an additional 486,172 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OTF shares. Wells Fargo & Company dropped their price objective 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. Keefe, Bruyette & Woods dropped their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Tuesday, May 12th. Royal Bank Of Canada dropped their price target 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. Citizens Jmp decreased their price objective on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, Zacks Research raised shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.40.

Blue Owl Technology Finance Stock Performance

OTF stock opened at $10.06 on Wednesday. Blue Owl Technology Finance Corp. has a 1 year low of $9.78 and a 1 year high of $15.82. The stock’s 50 day moving average price is $10.59 and its 200 day moving average price is $11.63. The firm has a market cap of $4.66 billion and a P/E ratio of 11.18.

Blue Owl Technology Finance (NYSE:OTF) last released its quarterly 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). 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 period last year, the firm earned $0.41 earnings per share. On average, research analysts predict that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This is an increase from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.9%. Blue Owl Technology Finance’s dividend payout ratio is 155.56%.

Insiders Place Their Bets

In related news, Director Melissa Weiler acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the transaction, the director owned 10,000 shares in the company, valued at $109,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Chris Temple bought 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $10.71 per share, with a total value 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 SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 18,000 shares of company stock worth $194,710. Corporate insiders own 0.05% of the company’s stock.

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.