CARG - CarGurus gains on announcing $250M share repurchase program
- CarGurus ( NASDAQ: CARG ) to buyback up to $250M of its Class A common stock as part of its capital deployment strategy.
- The share repurchase program expires on December 31, 2023.
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“We are pleased with the strength of our balance sheet that continues to generate free cash flow while also supporting our new growth and investment areas. We believe our Board of Directors’ authorization supports our thoughtful capital deployment strategy. We are committed to using cash flow from operations to drive business growth, thoughtful add-on acquisitions and strategically returning cash to shareholders through a share repurchase,” said Jason Trevisan, Chief Executive Officer.
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Shares are trading up 4.44% premarket.
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CarGurus gains on announcing $250M share repurchase program