U.S. Global Investors Announces An Increase Of Nearly 200% From The Number Of Shares Purchased The Same Month A Year Earlier
Portfolio Pulse from Benzinga Newsdesk
U.S. Global Investors, Inc. (GROW) announced it repurchased 102,636 of its own shares in February 2024, a nearly 200% increase from the previous year. The buyback, costing about $281,000, is part of an enhanced program allowing up to $5 million in annual purchases. Since March 2022, around 1 million shares have been bought back. CEO Frank Holmes emphasized the buyback reflects confidence in the company's future and its current undervaluation, especially as small-cap stocks face pressure from rising borrowing costs.
March 07, 2024 | 9:49 pm
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U.S. Global Investors, Inc. (GROW) significantly increased its share repurchase in February 2024, buying back 102,636 shares. This action is part of a broader strategy to enhance shareholder value and reflects the company's confidence in its future prospects.
The substantial increase in share repurchases by GROW indicates a strong commitment to enhancing shareholder value and a strategic approach to capital allocation. This move, especially in the context of the company's belief in being undervalued and the broader challenges facing small-cap stocks, is likely to be viewed positively by investors. The company's aggressive buyback strategy and the CEO's confidence in the company's future prospects could lead to increased investor confidence and potentially a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100