Quad/Graphics Purchased 492,396 Shares Of Its Own Stock Via Open Market Transactions During Q4; FY23 Total 2,852,501 Shares At A Weighted Average Price Per Share Of $4.40
Portfolio Pulse from Benzinga Newsdesk
Quad/Graphics, under its $100 million share repurchase program authorized on July 30, 2018, bought back 492,396 shares in Q4 and a total of 2,852,501 shares in FY23 at an average price of $4.40 per share. As of December 31, 2023, approximately $77.5 million remains available for further repurchases.
January 30, 2024 | 2:26 pm
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POSITIVE IMPACT
Quad/Graphics has actively repurchased shares, signaling confidence in the company's value and a commitment to shareholder returns. The buyback could support the stock price in the short term.
Share repurchases often indicate management's belief that the stock is undervalued and can lead to a reduction in the number of shares outstanding, potentially increasing earnings per share and the stock price. Given the substantial amount of shares bought back by Quad/Graphics and the remaining funds available for further repurchases, this could be seen as a positive development for the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100