Perion Adopts Share Repurchase Program Of Up To $50M Of Its Ordinary Shares
Portfolio Pulse from Benzinga Newsdesk
Perion Network Ltd. has announced a share repurchase program, authorizing the buyback of up to $50 million of its ordinary shares. This move is part of the company's strategy to enhance shareholder value.
February 20, 2024 | 11:01 am
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Perion Network Ltd. has initiated a share repurchase program, aiming to buy back up to $50 million of its ordinary shares. This action is likely to positively impact the stock price in the short term.
Share repurchase programs often lead to a positive reaction in the stock market as they can indicate the company's confidence in its own financial health and future prospects. By reducing the number of shares available in the market, the earnings per share (EPS) may increase, potentially making the stock more attractive to investors. Given the size of the repurchase program relative to the company's market capitalization, this move is likely to be viewed positively by the market.
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