Share repurchase

BlackRock Closed-End Funds Announce Renewal of Share Repurchase Programs

Retrieved on: 
Wednesday, November 15, 2023
Asset Management, Professional Services, Finance, Share repurchase, BlackRock, Fund, Repurchase agreement, Security (finance)

BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of fifty BlackRock municipal, taxable fixed income, equity, and multi-asset closed-end funds (the “Funds”) have authorized the renewal of open market share repurchase programs (the “Repurchase Programs”).

Key Points: 
  • BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of fifty BlackRock municipal, taxable fixed income, equity, and multi-asset closed-end funds (the “Funds”) have authorized the renewal of open market share repurchase programs (the “Repurchase Programs”).
  • Under each Fund’s current Repurchase Program, each Fund may repurchase, through November 30, 2023, up to 5% of its outstanding common shares (based on common shares outstanding on November 30, 2022) in open market transactions.
  • Pursuant to the Boards’ renewal of the Repurchase Programs, commencing on December 1, 2023, each Fund may repurchase up to 5% of its outstanding common shares (based on common shares outstanding on November 30, 2023) in open market transactions through November 30, 2024.
  • The Boards have authorized the renewal of a Repurchase Program for the following Funds:

Riskified Continues to Execute on Land and Expand Strategy to Achieve Third Quarter Revenue Growth of 14%

Retrieved on: 
Wednesday, November 15, 2023
Data Management, Security, Technology, Software, Electronic Commerce, Artificial Intelligence, Webcast, Disclosure, EBITDA, Conference proceedings, Security (finance), Depreciation, Annual report, Privacy, Exercise, Risk, Share repurchase, Tax, History, Insurance, Public expenditure, Stock dilution, Artificial intelligence, Instability, GAAP, Adjustment, PSD2, E-commerce, Partnership, Table, Gross merchandise volume, CTB, Growth, Failure, Performance indicator, GMV, Cryptocurrency, Bookkeeping, Bank, Riskified

These results are testament to the overall strength of the business, and to our ability to execute and find leverage in the model.

Key Points: 
  • These results are testament to the overall strength of the business, and to our ability to execute and find leverage in the model.
  • We are updating our revenue guidance for the year ending December 31, 2023 as follows:
    Revenue between $297 million and $300 million.
  • We are committed to continuing to manage the business in a disciplined manner and seek to identify further leverage in the business model.
  • (1) GMV is a key performance indicator and Adjusted EBITDA is a non-GAAP measure of financial performance.

Chegg Announces New $150 Million Accelerated Share Repurchase

Retrieved on: 
Wednesday, November 15, 2023
Software, Artificial Intelligence, Continuing, Technology, University, Apps, Applications, Education, Training, ASR, Share repurchase, CHGG, NYSE, National Association, Chegg

Chegg, Inc. (NYSE:CHGG), the leading student-first connected learning platform, today announced that it has entered into an accelerated share repurchase agreement (“ASR”) with Morgan Stanley Bank, National Association, to repurchase $150 million of Chegg’s common stock.

Key Points: 
  • Chegg, Inc. (NYSE:CHGG), the leading student-first connected learning platform, today announced that it has entered into an accelerated share repurchase agreement (“ASR”) with Morgan Stanley Bank, National Association, to repurchase $150 million of Chegg’s common stock.
  • Under the ASR, Chegg will make an initial payment of $150 million to Morgan Stanley Bank, National Association, and will receive an initial delivery of approximately 13.5 million shares of its common stock by November 15, 2023.
  • As of October 31, 2023, $153.7 million remained available for future repurchases under this program and $3.7 million will remain available after completion of the ASR.
  • There is no expiration date for the repurchase program, and it will continue until otherwise suspended, terminated or modified at any time for any reason by our board of directors.

Griffon Announces $200 Million Increase to Share Buyback Authorization

Retrieved on: 
Wednesday, November 15, 2023
Finance, Banking, Professional Services, Other Professional Services, Asset Management, Share repurchase, Griffon Corporation, NYSE, GFF, Cryptocurrency, Griffon

The Board of Directors of Griffon Corporation (“Griffon” or the “Company”) (NYSE:GFF) authorized the repurchase of an additional $200 million worth of shares of Griffon common stock.

Key Points: 
  • The Board of Directors of Griffon Corporation (“Griffon” or the “Company”) (NYSE:GFF) authorized the repurchase of an additional $200 million worth of shares of Griffon common stock.
  • During the fiscal year ending September 30, 2023, Griffon repurchased 4.1 million shares of common stock for a total of $150.8 million, or an average of $36.39 per share.
  • During the period October 1, 2023 through market close on November 14, 2023, Griffon repurchased 1.1 million shares of common stock, for a total of $45.0 million or an average of $39.91 per share.
  • As of the market open today, including the $200 million authorization increase, Griffon has a total of $262 million available under its stock repurchase program.

Moving iMage Technologies Announces First Quarter Fiscal 2024 Results

Retrieved on: 
Tuesday, November 14, 2023
eSports, Technology, Sports, General Sports, Entertainment, Home Goods, Audio, Video, General Entertainment, Film & Motion Pictures, Retail, Massachusetts Institute of Technology, NYSE, Earnings, EPS, LEA, Share repurchase, GAAP

Moving iMage Technologies, Inc. (NYSE AMERICAN: MITQ), (“MiT”), a leading technology and services company for cinema, Esports, stadiums, arenas and other out-of-home entertainment venues, today announced results for its first quarter ended September 30, 2023.

Key Points: 
  • Moving iMage Technologies, Inc. (NYSE AMERICAN: MITQ), (“MiT”), a leading technology and services company for cinema, Esports, stadiums, arenas and other out-of-home entertainment venues, today announced results for its first quarter ended September 30, 2023.
  • “We started the new fiscal year on a strong note with double-digit growth in revenue, gross margin expansion and profits,” said Phil Rafnson, chairman and chief executive officer, MiT.
  • “We’ve been talking about a technology refresh cycle for several quarters now, and this quarter’s results were encouraging, as projector replacements and our ADA compliance products were a key driver.
  • “From a capital allocation perspective, we put in place a 10b5-1 trading program for our previously approved share buyback at the end of the quarter.

Sally Beauty Holdings Reports Fourth Quarter and Full Year Fiscal 2023 Results

Retrieved on: 
Tuesday, November 14, 2023
Teens, Women, Men, Specialty, Family, Fashion, Lifestyle, Consumer, Cosmetics, Retail, BSG, Pressure, Sally, Acquisition, NYSE, SOFR, Human, International, Share repurchase, SBH, Consultant, Amika Shail, Sally Beauty Holdings, Capital, Capital expenditure, COVID-19, GAAP, Adjustment, Zero balance account, Central Time, Forecasting, Growth, State Administrative Expenses, Goldwell, Cryptocurrency, Arms industry, Bank, Commercial property, Marketing, Video game, Pharmaceutical industry, Textile

“Our teams are executing well on our strategic initiatives designed to reignite top line growth and improve profitability -- enhancing our customer centricity, growing our high margin own brands and amplifying innovation, and increasing the efficiency of our operations. Building on our strong foundation, we are focused on the future and remain committed to creating value for our shareholders.”

Key Points: 
  • Sally Beauty Holdings, Inc. (NYSE: SBH) (“the Company”), the leader in professional hair color, today announced financial results for its fourth quarter and full year ended September 30, 2023.
  • The acquisition is expected to result in an incremental sales benefit of approximately 1% to the Company’s Beauty Systems Group segment in fiscal 2024.
  • Fourth quarter consolidated net sales were $921.4 million, a decrease of 4.3% compared to the prior year.
  • Consolidated gross profit for the fourth quarter was $466.6 million compared to $463.5 million in the prior year, an increase of 0.7%.

Mentor Capital Legacy Unit Sale Completed at $6 Million

Retrieved on: 
Tuesday, November 14, 2023
Professional Services, Finance, Acquisition, OTCQB, EDGAR, Security (finance), Form, Share repurchase, Consultant, Capital, Series, Mentorship, Partnership, Cryptocurrency

Subsequent to quarter end, on October 4, 2023, Mentor sold its interest in a subsidiary unit in a $6,000,000 transaction comprised of $5,000,000 in cash and a $1,000,000 one-year note.

Key Points: 
  • Subsequent to quarter end, on October 4, 2023, Mentor sold its interest in a subsidiary unit in a $6,000,000 transaction comprised of $5,000,000 in cash and a $1,000,000 one-year note.
  • The Company reports that for the nine months ended September 30, 2023, Mentor had revenues of $6,432,616 and a gross profit of $2,281,216, with a resulting net loss attributable to Mentor of (1.5) cents per share.
  • No equity was granted to directors, insiders, consultants, or investor relations firms during the quarter ending September 30, 2023.
  • The Company is managed by Chairman and CEO Chet Billingsley (71), who founded Mentor Capital first as an acquisition partnership in 1985.

Griffon Corporation Announces Annual and Fourth Quarter Results

Retrieved on: 
Wednesday, November 15, 2023
Retail, Home Goods, Specialty, Other Retail, Sale, EBITDA, Term loan, Absorption, AMES, NYSE, Consumer, International, Investment, Share repurchase, Corporation, Tax, Depreciation, Public expenditure, Calendar, Marketing, Advertising, Capital, Capital expenditure, Griffon, Griffon Corporation, HBP, CPP, GFF, Transport, Rare-earth element, Video game, Health insurance, Bookkeeping, Pharmaceutical industry, Hunting

Griffon Corporation (“Griffon” or the “Company”) (NYSE:GFF) today reported results for the fiscal year and fourth quarter ended September 30, 2023.

Key Points: 
  • Griffon Corporation (“Griffon” or the “Company”) (NYSE:GFF) today reported results for the fiscal year and fourth quarter ended September 30, 2023.
  • Revenue for the fourth quarter totaled $641 million, decreasing 10% from $709 million in the prior year quarter.
  • Adjusted EBITDA from continuing operations for the fourth quarter totaled $121.3 million, a 3% decrease from the prior year quarter of $124.8 million.
  • "We are pleased with Griffon’s results for the fourth quarter and fiscal year.

Coty Increases Share Repurchase Program by $600 Million to Accommodate Planned Hedged Share Buyback Transaction of Additional 25 Million Shares

Retrieved on: 
Monday, November 13, 2023
Cosmetics, Retail, Other Retail, Common stock, Share repurchase, NYSE, Inc., Coty Inc., COTY, Cryptocurrency, Coty

Coty Inc. (NYSE: COTY) today announced that its Board of Directors has increased its share repurchase program authorization by an additional $600 million to a total availability of approximately $1 billion.

Key Points: 
  • Coty Inc. (NYSE: COTY) today announced that its Board of Directors has increased its share repurchase program authorization by an additional $600 million to a total availability of approximately $1 billion.
  • These agreements are in addition to the Company’s previously announced hedge transactions for planned buyback of 27 million shares in 3Q FY24 and 23 million shares in FY25.
  • Similar to the initial hedge transactions executed in June and December 2022, any total return swap settled in shares would be covered by the Company’s share repurchase authorization.
  • The three hedge transactions are part of Coty's target to reduce its diluted share count toward 800 million by FY26.

AECOM affirms its capital allocation policy, increases share repurchase authorization to $1 billion and increases its quarterly dividend by 22%

Retrieved on: 
Monday, November 13, 2023
Mining, Minerals, Natural Resources, Other Energy, Utilities, Oil, Gas, Alternative Energy, Energy, Logistics, Supply Chain Management, Public Transport, Other Defense, Contracts, Other Transport, Nuclear, Trucking, Rail, Maritime, Defense, Air, Environment, Transport, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Urban Planning, Construction & Property, REIT, Other Professional Services, Landscape, Interior Design, Architecture, Consulting, Building Systems, Professional Services, Share repurchase, ACM, NYSE, Policy, AECOM

AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced that its Board of Directors has approved increases to both its share repurchase authorization to $1 billion and its quarterly dividend program by 22% to $0.22 per share.

Key Points: 
  • AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced that its Board of Directors has approved increases to both its share repurchase authorization to $1 billion and its quarterly dividend program by 22% to $0.22 per share.
  • The increased share repurchase authorization builds on the $1.8 billion of shares repurchased since September 2020, which has reduced shares outstanding by 19%.
  • “Under this policy, we have delivered highly profitable organic revenue growth, built a record design backlog, and returned $2 billion to shareholders since 2020, which has enhanced our total shareholder return.
  • Our competitive advantages, combined with accelerating end market growth and our strong cash flow and balance sheet, underpin our confidence in long-term shareholder value creation.”