Share Buyback Plan Authorized by Blue Owl Technology Finance (NYSE:OTF) Board of Directors

Blue Owl Technology Finance (NYSE:OTF) announced that its board has authorized a stock buyback program 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Blue Owl Technology Finance Stock Up 1.4%

NYSE OTF opened at $12.65 on Thursday. Blue Owl Technology Finance has a one year low of $11.73 and a one year high of $21.62. The stock has a market capitalization of $5.93 billion and a PE ratio of 7.27.

Blue Owl Technology Finance (NYSE:OTF) last issued 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 return on equity of 7.25% and a net margin of 62.05%.

Analyst Ratings Changes

Separately, Zacks Research upgraded 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, Blue Owl Technology Finance currently has a consensus rating of “Hold”.

Blue Owl Technology Finance Company Profile

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.