Blue Owl Technology Finance (NYSE:OTF – Get Free Report) announced that its board has initiated a share repurchase plan on Wednesday, February 18th, RTT News reports. The company plans to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
Blue Owl Technology Finance Price Performance
Shares of Blue Owl Technology Finance stock traded up $0.18 during midday trading on Wednesday, hitting $12.65. 1,992,226 shares of the company were exchanged, compared to its average volume of 1,976,483. The company has a market capitalization of $5.93 billion and a PE ratio of 7.27. Blue Owl Technology Finance has a 52 week low of $11.73 and a 52 week high of $21.62.
Blue Owl Technology Finance (NYSE:OTF – Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.30 earnings per share 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 Research Report on OTF
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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