Red Violet On March 28 Approved Additional $5M Available Under Stock Repurchase Program; Following Repurchase, Greater Miami Jewish Federation, Inc. Is No Longer Beneficial Holder Of Any Securities Of Company; On March 29, Acquired 200,000 Shares Of Stock At $20.50/Share Under Stock Repurchase Program From Greater Miami Jewish Federation
Portfolio Pulse from Benzinga Newsdesk
Red Violet approved an additional $5M for its stock repurchase program on March 28. Following this, it repurchased 200,000 shares at $20.50/share from Greater Miami Jewish Federation, who no longer holds any securities in the company.
April 03, 2024 | 8:44 pm
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Red Violet approved an additional $5M for its stock repurchase program and bought back 200,000 shares from Greater Miami Jewish Federation.
The approval of an additional $5M for the stock repurchase program and the subsequent repurchase of shares at $20.50 each indicate a strong buyback activity by Red Violet. This could signal the company's confidence in its own stock, potentially leading to a positive short-term impact on its stock price. The repurchase also removes a significant holder, which might reduce sell-side pressure.
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