Maximus Announces Board Approval To Expand Stock Purchase Program Up To $200M, Including Approximately $6M Remaining From Existing Program
Portfolio Pulse from Benzinga Newsdesk
Maximus has announced that its board has approved an expansion of its stock purchase program up to $200 million, which includes approximately $6 million remaining from the existing program.
June 12, 2024 | 1:15 pm
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POSITIVE IMPACT
Maximus has received board approval to expand its stock purchase program up to $200 million, including $6 million remaining from the existing program. 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 can reduce the number of shares outstanding.
Stock buyback programs generally indicate that a company believes its shares are undervalued and can lead to a reduction in the number of shares outstanding, which often results in a higher stock price. The board's approval of a significant expansion to $200 million shows strong confidence in the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100