GreenTree Hospitality Group Board Of Directors Has Authorized A Share Repurchase Program; Co May Repurchase Up To $10M Worth Of Outstanding Class A Ordinary Shares Of A Par Value Of $0.50 Each
Portfolio Pulse from Benzinga Newsdesk
GreenTree Hospitality Group's board has authorized a share repurchase program, allowing the company to repurchase up to $10M worth of outstanding Class A ordinary shares, according to an SEC filing.
October 13, 2023 | 8:49 pm
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GreenTree Hospitality Group's share repurchase program may lead to a short-term increase in the company's stock price.
Share repurchase programs often lead to an increase in the stock price as they reduce the number of shares in circulation, thereby increasing earnings per share. This could make the stock more attractive to investors, potentially leading to an increase in demand and a rise in the stock price.
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