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 –
StealthGas Inc. – SYM: GASS
Recent Price: $3.16
Buyback Action: The Board of Directors authorized a new $15 million share repurchase program, equal to around 12.8% of its market cap at announcement.
Description: StealthGas Inc., together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. It also offers crude oil and natural gas.
Gevo, Inc. – SYM: GEVO
Recent Price: $1.58
Buyback Action: The Board of Directors approved a new $25 million share repurchase program, equal to around 8% of its market cap at announcement.
Description: Gevo, Inc. operates as a renewable fuels company. It operates through three segments: Gevo, Agri-Energy, and Renewable Natural Gas. The company offers renewable gasoline and diesel, isooctane, isobutanol, sustainable aviation fuel, renewable natural gas, isobutylene, ethanol, and animal feed and protein. The company was formerly known as Methanotech, Inc. and changed its name to Gevo, Inc. in March 2006. Gevo, Inc. was incorporated in 2005 and is headquartered in Englewood, Colorado.
Dillard’s, Inc. – SYM: DDS
Recent Price: $329.14
Buyback Action: The Board of Directors authorized a new $500 million share repurchase program, equal to around 10.5% of its market cap at announcement.
Description: Dillard’s, Inc. operates retail department stores in the southeastern, southwestern, and midwestern areas of the United States. Its stores offer merchandise, including fashion apparel for women, men, and children; and accessories, cosmetics, home furnishings, and other consumer goods. The company also engages in the general contracting construction activities. Dillard’s, Inc. was founded in 1938 and is based in Little Rock, Arkansas.