HireRight Plans Additional $25M Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
HireRight has announced an additional $25M share repurchase program. This follows a $100M program completed in June 2023 and a $25M program completed in August 2023. As of September 11, 2023, the company had approximately $53M in cash and cash equivalents.
September 12, 2023 | 8:06 pm
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POSITIVE IMPACT
HireRight's announcement of a new $25M share repurchase program could potentially increase the stock's value in the short term.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock, which can lead to increased investor confidence and potentially a rise in stock price. Given that HireRight has successfully completed two repurchase programs in 2023, this new announcement could be seen as a positive signal to the market.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100