Wingstop Plans Inaugural $250M Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Wingstop has announced its first-ever share repurchase program, planning to buy back $250 million of its own shares. The company plans to fund the repurchases with a combination of existing cash and cash equivalents and cash flows from operations. As of July 1, 2023, Wingstop had cash and cash equivalents of $188.5 million.
August 17, 2023 | 12:02 pm
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POSITIVE IMPACT
Wingstop's announcement of a $250 million share repurchase program could potentially increase the company's stock price in the short term as it indicates the company's confidence in its own stock.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock. By buying back its own shares, Wingstop is reducing the number of shares available in the market, which could potentially increase the price of the remaining shares. This could have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100