PVG Asset Management Corp bought a new position in shares of Blue Owl Technology Finance Corp. (NYSE:OTF – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 62,156 shares of the company’s stock, valued at approximately $770,000.
A number of other large investors also recently modified their holdings of OTF. Newbridge Financial Services Group Inc. acquired a new stake in Blue Owl Technology Finance during the fourth quarter worth about $44,000. Clearstead Advisors LLC bought a new position in shares of Blue Owl Technology Finance during the fourth quarter valued at approximately $124,000. Abel Hall LLC acquired a new stake in shares of Blue Owl Technology Finance during the 1st quarter worth approximately $124,000. Kestra Advisory Services LLC acquired a new stake in shares of Blue Owl Technology Finance during the 4th quarter worth approximately $128,000. Finally, Cornerstone Partners Capital Management LLC bought a new stake in shares of Blue Owl Technology Finance in the 4th quarter worth approximately $146,000.
Insider Activity
In related news, Director Melissa Weiler acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at $109,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Chris Temple bought 7,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $10.71 per share, for a total transaction of $74,970.00. Following the acquisition, the director owned 12,000 shares of the company’s stock, valued at $128,520. This represents a 140.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 18,000 shares of company stock valued at $194,710 in the last ninety days. Corporate insiders own 0.05% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on Blue Owl Technology Finance
Blue Owl Technology Finance Price Performance
OTF opened at $9.98 on Monday. The stock’s 50 day moving average price is $10.55 and its 200 day moving average price is $11.54. The stock has a market cap of $4.62 billion, a P/E ratio of 11.09 and a beta of -0.86. 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 announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 $222.12 million for the quarter. During the same period in the previous year, the business earned $0.41 EPS. Equities analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 EPS 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 issued a $0.35 dividend. 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 annualized dividend and a yield of 14.0%. Blue Owl Technology Finance’s dividend payout ratio is currently 155.56%.
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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