Superior Group Of Companies Announces New $10M Stock Repurchase Plan
Portfolio Pulse from Benzinga Newsdesk
Superior Group of Companies, Inc. (NASDAQ:SGC) has announced a new $10 million stock repurchase plan, replacing the previous plan from May 2019. The new plan allows the company to repurchase up to $10 million of its common stock over the next year.
August 12, 2024 | 12:12 pm
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Superior Group of Companies, Inc. (NASDAQ:SGC) has announced a new $10 million stock repurchase plan, which is likely to positively impact the stock price in the short term as it indicates confidence in the company's future prospects.
Stock repurchase plans generally signal that the company believes its stock is undervalued and is confident in its future performance. This often leads to a positive short-term impact on the stock price as it reduces the number of shares outstanding, potentially increasing earnings per share.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100