Targeting stocks with recently announced buyback programs can be beneficial for investors. Buyback programs can be seen as a signal of confidence by the company’s management in the future prospects of the business. When a company announces a buyback program, it indicates that it believes its stock is undervalued and that it has excess cash available to repurchase shares, which can be interpreted as a positive sign for investors. Buybacks can also potentially increase the value of the remaining shares by reducing the total number of shares outstanding, which could lead to higher earnings per share and potentially higher stock prices.
Here are three stock buybacks for the week –
Medalist Diversified REIT, Inc. – SYM: MDRR
Recent Price: $5.25
Buyback Action: The Board of Directors approved the repurchase of an additional 200,000 shares of the company’s common stock for a maximum price of $6.00 per share, equal to around 9% of its market cap at announcement.
Description: Medalist Diversified REIT Inc. is a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S. The Company’s strategy is to focus on commercial real estate which is expected to provide an attractive balance of risk and returns. Medalist utilizes a rigorous, consistent and replicable process for sourcing and conducting due diligence of acquisitions.
WARNING: 110 Banks Preparing for Digital Dollar
If you have any money in the U.S. banking system, pay close attention because….
Bank of America is warning its clients that ALL checking accounts are likely to be replaced with digital dollars soon.
And it’s not just Bank of America.
This former VP of a major U.S. investment bank just released this list with more than 110 banks that are preparing to do the same.
If your bank is on this list, you’ll need to move your cash by the end of this month… or risk your entire life savings.
Click here to see the full list.
Linde plc – SYM: LIN
Recent Price: $373.58
Buyback Action: The Board of Directors announced that it has approved a new share repurchase program for up to $15 billion, equal to around 8.4% of its market cap at announcement.
Description: Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. The company also designs and constructs turnkey process plants for third-party customers, as well as for the gas businesses in various locations, such as air separation, hydrogen, synthesis, olefin, and natural gas plants. It serves a range of industries, including healthcare, chemicals and energy, manufacturing, metals and mining, food and beverage, and electronics. The company was founded in 1879 and is based in Woking, the United Kingdom.
Tech Startup With Traction: All eyes are on Mode’s Pre-IPO Offering as the cutting-edge smartphone innovators continue with a series of impressive raises, likely spurred by Apple’s recent $3T valuation.
Mode saw 150x revenue growth from 2019 to 2022, making them one of America’s fastest-growing companies thanks to their “EarnPhone,” a budget smartphone that’s helped consumers earn & save $150M+.
Get 80% Bonus Shares Today: $0.16/Share* Invest before Mode IPOs to get 80% bonus shares
Disclosure: Please read the offering circular at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation CF Offering.
RTX Corporation – SYM: RTX
Recent Price: $79.11
Buyback Action: The Board of Directors announced that it has approved a $10 billion accelerated share repurchase program, equal to around 8.8% of its market cap at announcement.
Description: RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation; and for defense and commercial space operations. This segment also designs, produces, and supports cabin interior, oxygen systems, food and beverage preparation, storage and galley systems, and lavatory and wastewater management systems; airborne intelligence, surveillance and reconnaissance systems, test and training range systems, crew escape systems, and simulation and training solutions; information management services; and aftermarket services that include spare parts, overhaul and repair, engineering and technical support, training and fleet management solutions, and asset management services. The Pratt & Whitney segment supplies aircraft engines for commercial, military, business jet, and general aviation customers; and produces, sells, and services military and commercial auxiliary power units. The Raytheon Intelligence & Space segment develops and provides integrated space, communication, and sensor systems, and cyber and software solutions to intelligence, defense, federal, and commercial customers. The Raytheon Missiles & Defense segment provides end-to-end solutions for U.S. and foreign government customers designed to detect, track, and engage threats. The company was formerly known as Raytheon Technologies Corporation and changed its name to RTX Corporation in July 2023. RTX Corporation was incorporated in 1934 and is headquartered in Arlington, Virginia.