LegalZoom.com Announces Board Authorization Of $75M Increase To Stock Repurchase Program, Totaling $175M
Portfolio Pulse from Benzinga Newsdesk
LegalZoom.com has announced that its board has authorized a $75 million increase to its stock repurchase program, bringing the total to $175 million.
May 22, 2024 | 1:01 pm
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LegalZoom.com has increased its stock repurchase program by $75 million, bringing the total to $175 million. This move is likely to positively impact the stock price in the short term as it signals confidence in the company's future prospects and reduces the number of shares outstanding.
Stock repurchase programs generally indicate that a company believes its stock is undervalued and is confident in its future performance. By reducing the number of shares outstanding, earnings per share (EPS) can increase, which often leads to a higher stock price.
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IMPORTANCE 80
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