Blue Owl Technology Finance (NYSE:OTF – Get Free Report) announced that its board has authorized a stock repurchase plan on Wednesday, February 18th, RTT News reports. The company plans to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Blue Owl Technology Finance Stock Up 1.4%
Blue Owl Technology Finance stock traded up $0.18 during mid-day trading on Wednesday, hitting $12.65. The stock had a trading volume of 1,992,226 shares, compared to its average volume of 1,976,483. The stock has a market cap of $5.93 billion and a price-to-earnings ratio of 7.27. Blue Owl Technology Finance has a 12 month low of $11.73 and a 12 month high of $21.62.
Blue Owl Technology Finance (NYSE:OTF – Get Free Report) last released its earnings results on Wednesday, February 18th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Blue Owl Technology Finance had a net margin of 62.05% and a return on equity of 7.25%.
Analysts Set New Price Targets
Check Out Our Latest Stock Analysis on Blue Owl Technology Finance
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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