Asbury Automotive Says It Repurchased Approximately 193,000 Shares For $43M In Q2, And Approximately 592,000 Shares For $130M Year-to-date Through August 1, 2024
Portfolio Pulse from Benzinga Newsdesk
Asbury Automotive Group (ABG) announced that it repurchased approximately 193,000 shares for $43 million in Q2 and approximately 592,000 shares for $130 million year-to-date through August 1, 2024.
August 02, 2024 | 11:08 am
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Asbury Automotive Group (ABG) repurchased 193,000 shares for $43 million in Q2 and 592,000 shares for $130 million year-to-date through August 1, 2024. This buyback indicates confidence in the company's future performance and can positively impact the stock price.
The share repurchase program suggests that Asbury Automotive Group has confidence in its financial health and future prospects. This action reduces the number of outstanding shares, potentially increasing earnings per share (EPS) and often leading to a positive short-term impact on the stock price.
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