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Equity Actions

EVC

Entravision has appointed Mark Boelke as its new CFO. Boelke, with over 30 years of experience in business and legal fields, particularly in media, advertising, and technology, has been with Entravision since 2005, serving as General Counsel and Secretary since 2006. His expertise includes mergers and acquisitions, strategic partnerships, and corporate finance among others.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:47 pm

GPI

Group 1 Automotive, Inc. (NYSE:GPI) announced a new $250M share repurchase authorization and declared a quarterly dividend increase from $0.45 to $0.47 per share. The repurchase program was increased by $161M to the new total, with 205,551 shares already bought back at an average of $264.74 each. The dividend increase is part of a 4% rise in the annualized rate from $1.80 to $1.88 per share for 2024. Repurchases are to be funded by cash from operations and held in treasury.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:42 pm

KNTK

Kinetik Holdings Inc. (KNTK) has announced a series of strategic transactions including the acquisition of Durango Permian LLC for $765 million in cash and equity, a new 15-year service agreement in Eddy County, New Mexico, and the sale of its 16% stake in the Gulf Coast Express pipeline (GCX) for $540 million. These moves aim to expand Kinetik's operations in the Permian Basin, doubling its pipeline mileage and processing capacity, and adding over 60 new customers. The transactions are expected to be over 10% accretive to Kinetik's free cash flow per share starting in the second half of 2025.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:22 pm

TLLTF

TILT Holdings Inc. (OTC:TLLTF) has entered into a financing agreement to expand its subsidiary, Standard Farms, in Pennsylvania. The deal allows borrowing up to $10.5 million with escalating interest rates starting at 20%, aimed at constructing dispensaries under a new permit. This strategic move is expected to strengthen TILT's market position in Pennsylvania, a state showing resilience in cannabis sales despite broader market downturns. TILT's financials indicate a leveraged but manageable position, with a need to address liquidity challenges.

Portfolio Pulse from Nicolás Jose Rodriguez

May 09, 2024 | 9:19 pm

COLL

The board of Collegium Pharmaceutical has authorized a $35 million accelerated share repurchase (ASR) program. This move is aimed at returning value to shareholders by reducing the number of shares outstanding, potentially increasing the earnings per share (EPS) and the stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:13 pm

AMPL

Amplitude has increased its FY24 revenue forecast to $292.5M-$295.5M from the previous range of $291.5M-$294.5M, slightly above the estimated $293.13M. Additionally, the company has adjusted its EPS forecast from $0.06-$0.08 to $0.07-$0.09, aligning with the estimated $0.09.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:04 pm

FNKO

Funko, Inc. (NASDAQ:FNKO) announced the appointment of Cynthia Williams as its new CEO and Board Member, effective May 20, 2024. Williams brings a proven track record in building global consumer brands. Michael Lunsford will continue as Interim CEO until Williams assumes her role.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:56 pm

ANDE

Pat Bowe, the current President and CEO of The Andersons, Inc. (NASDAQ:ANDE), has been elected as the new chairman of the board, succeeding Michael J. Anderson who is retiring. Anderson has been with the company since 1999, serving as chairman since 2009. Bowe, who joined The Andersons in 2015, is recognized for his over 40 years of leadership and strategic insight, promising continued growth and success for the company.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:51 pm

GEN

Gen Digital's stock price increased following the announcement of Q4 earnings surpassing expectations and the authorization of a $3 billion share repurchase program.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:29 pm

GEN

Gen Digital announced Ondřej Vlček is stepping down as president after successfully integrating the company post the Avast and NortonLifeLock merger in 2022. He remains on the Gen Board of Directors.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:17 pm