Asbury Automotive Group shares are trading higher after the company announced it approved a new stock repurchase authorization of $250 million.
Portfolio Pulse from Benzinga Newsdesk
Asbury Automotive Group has approved a new stock repurchase authorization of $250 million, leading to a rise in its share prices.
May 26, 2023 | 8:00 pm
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Asbury Automotive Group's new $250 million stock repurchase authorization has led to an increase in its share prices.
The announcement of a new stock repurchase authorization of $250 million by Asbury Automotive Group has led to a positive impact on its share prices. This is because repurchasing shares reduces the number of outstanding shares, which can increase earnings per share and potentially boost the stock price. Investors may view this as a positive signal, leading to increased demand for the stock and driving the price higher.
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IMPORTANCE 80
RELEVANCE 100