InnovAge Increases Share Repurchase Program By $2.5M, Bringing Total Authorization To $7.5M; 837,372 Shares Repurchased Since June 2024
Portfolio Pulse from Benzinga Newsdesk
InnovAge has increased its share repurchase program by $2.5 million, bringing the total authorization to $7.5 million. Since June 2024, the company has repurchased 837,372 shares.
September 26, 2024 | 12:11 pm
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InnovAge has expanded its share repurchase program by $2.5 million, increasing the total authorization to $7.5 million. This move indicates confidence in the company's value and may positively impact the stock price.
The increase in the share repurchase program suggests that InnovAge believes its stock is undervalued, which is typically seen as a positive signal by investors. This action can lead to a short-term increase in stock price as it reduces the number of shares available in the market, potentially increasing earnings per share.
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