Silvercrest Asset Management Group Announces $12M Common Stock Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) has announced a $12 million common stock repurchase program. The program allows the company to buy back its Class A common stock over the next 12 months, depending on market conditions and other factors.
August 16, 2024 | 8:01 pm
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Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) has announced a $12 million common stock repurchase 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 repurchase programs generally indicate that a company believes its stock is undervalued, which can lead to a positive market reaction. Additionally, buybacks reduce the number of shares outstanding, potentially increasing earnings per share (EPS).
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