REV Group Board Approved A New $175.0M Share Repurchase Authorization Effective Immediately
Portfolio Pulse from Benzinga Newsdesk
REV Group's board of directors has approved a new $175 million share repurchase authorization, replacing the previous $150 million program. The new authorization is effective immediately and expires in 24 months.
June 08, 2023 | 11:13 am
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REV Group's new $175 million share repurchase authorization may lead to a short-term increase in stock price as it signals confidence in the company's future.
The new share repurchase authorization replaces the previous $150 million program, which had repurchased $73.7 million of the company's common stock. This move signals that the company's management is confident in its future prospects and may lead to a short-term increase in stock price as investors interpret it as a positive sign.
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