Bank of America Corp DE Raises Stock Holdings in Blue Owl Technology Finance Corp. $OTF

Bank of America Corp DE boosted its position in Blue Owl Technology Finance Corp. (NYSE:OTF - Free Report) by 54.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,098,349 shares of the company's stock after purchasing an additional 387,404 shares during the period. Bank of America Corp DE owned about 0.24% of Blue Owl Technology Finance worth $13,609,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of OTF. Clearstead Advisors LLC purchased a new stake in Blue Owl Technology Finance in the fourth quarter worth about $124,000. Kestra Advisory Services LLC bought a new position in shares of Blue Owl Technology Finance during the 4th quarter valued at approximately $128,000. Abel Hall LLC bought a new position in shares of Blue Owl Technology Finance during the 1st quarter valued at approximately $124,000. Onyx Bridge Wealth Group LLC purchased a new stake in Blue Owl Technology Finance in the 4th quarter worth approximately $150,000. Finally, Wealth Architects LLC purchased a new stake in Blue Owl Technology Finance in the 4th quarter worth approximately $167,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OTF. Citizens Jmp boosted their price target on shares of Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. Wells Fargo & Company cut their target price on Blue Owl Technology Finance from $13.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Truist Financial dropped 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 report on Tuesday, May 19th. Keefe, Bruyette & Woods dropped their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set a "market perform" rating for the company in a report on Tuesday, May 12th. Finally, Zacks Research upgraded Blue Owl Technology Finance from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 10th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $13.60.

View Our Latest Analysis on OTF

Blue Owl Technology Finance Stock Performance

Shares of OTF stock opened at $10.96 on Friday. Blue Owl Technology Finance Corp. has a fifty-two week low of $9.75 and a fifty-two week high of $15.82. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 13.70 and a beta of -0.86. The stock's 50-day simple moving average is $10.57 and its 200-day simple moving average is $11.28.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the business earned $0.45 earnings per share. As a group, equities analysts forecast that Blue Owl Technology Finance Corp. will post 1.25 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.35 dividend. This is a boost from Blue Owl Technology Finance's previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, September 30th. This represents a $1.40 annualized dividend and a yield of 12.8%. Blue Owl Technology Finance's dividend payout ratio is currently 175.00%.

Blue Owl Technology Finance Profile

(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.

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