Bowman Announces Authorization Of New Share Repurchase Program Of Up To $10M
Portfolio Pulse from Benzinga Newsdesk
Bowman Consulting Group Ltd. (NASDAQ:BWMN) has announced a new share repurchase program authorized by its Board of Directors. The program allows for the repurchase of up to $10 million of Bowman's common stock, effective from November 17, 2023, to November 16, 2024. This new authorization follows the expiration of the previous $10 million program, which had $9.3 million remaining for repurchase as of November 10, 2023.
November 17, 2023 | 9:08 pm
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Bowman Consulting Group Ltd. has initiated a new share repurchase program for up to $10 million, effective from November 17, 2023, to November 16, 2024, signaling confidence in the company's stock value.
Share repurchase programs often indicate a company's belief that its stock is undervalued and can lead to a positive investor sentiment, potentially driving the stock price up in the short term. Given that this is a new authorization following an expired program, it reaffirms the company's commitment to returning value to shareholders and could be seen as a positive signal by the market.
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