Group 1 Automotive Board Approves Increase To Share Repurchase Authorization To $250M
Portfolio Pulse from Benzinga Newsdesk
Group 1 Automotive's board has approved an increase to its share repurchase authorization to $250 million.
August 04, 2023 | 12:27 pm
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POSITIVE IMPACT
Group 1 Automotive's increased share repurchase authorization may lead to a short-term increase in its stock price.
Share repurchases often lead to a short-term increase in a company's stock price as they reduce the number of shares outstanding, thereby increasing earnings per share. This can make the stock more attractive to investors, potentially driving up its price.
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