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 –
Lendway, Inc. – SYM: LDWY
Recent Price: $5.88
Buyback Action: The Board of Directors approved a new 400K share repurchase program, equal to around 22.2% of its market cap at announcement.
Description: Lendway, Inc. provides in-store advertising solutions to consumer-packaged goods manufacturers, retailers, shopper marketing agencies, and brokerages in the United States. The company was incorporated in 1990 and is headquartered in Minneapolis, Minnesota.
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Yoshiharu Global Co. – SYM: YOSH
Recent Price: $0.35
Buyback Action: The Board of Directors authorized a share repurchase program to repurchase up to 1 million shares, equal to around 7.73% of its market cap at announcement.
Description: Yoshiharu Global Co. operates Japanese restaurants in California. It offers ramen, sushi rolls, bento boxes, and other Japanese cuisines. The company was founded in 2016 and is based in Buena Park, California.
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FinVolution Group – SYM: FINV
Recent Price: $5.14
Buyback Action: The Board of Directors authorized a new $150 million share repurchase program, equal to around 10.4% of its market cap at announcement.
Description: FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by proprietary technologies connects underserved borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc. and changed its name to FinVolution Group in November 2019. FinVolution Group was founded in 2007 and is headquartered in Shanghai, the People’s Republic of China.