Stock Buyback Plan Initiated by Blue Owl Technology Finance (NYSE:OTF) Board

Blue Owl Technology Finance (NYSE:OTFGet 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:OTFGet 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

Separately, Zacks Research raised shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Check Out Our Latest Stock Analysis on Blue Owl Technology Finance

About Blue Owl Technology Finance

Get 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.

Further Reading

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