Victory Capital Board Of directors Approves Share Repurchase Program Of Up To $100M
Portfolio Pulse from Benzinga Newsdesk
The Board of Directors of Victory Capital has approved a share repurchase program authorizing the company to buy back up to $100 million of its shares.
December 05, 2023 | 1:07 pm
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POSITIVE IMPACT
Victory Capital's new $100 million share repurchase program may boost investor confidence and potentially increase the stock's value in the short term.
Share repurchase programs are typically viewed positively by the market as they can indicate that the company believes its stock is undervalued. The repurchase of shares can also improve financial ratios like earnings per share (EPS), which may make the stock more attractive to investors. Given the size of the buyback program relative to the company's market capitalization, this could have a significant impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100