STKS - The ONE Group Hospitality jumps 12% on $10M stock buyback authorization

• The ONE Group Hospitality ( NASDAQ: STKS ) has authorized the commencement of a share repurchase program for up to $10M worth stock.
• “We have the strategies in place to be a differentiated leader in the upscale and polished casual segments and are highly confident in our long-term growth opportunities. This $10 million repurchase authorization enhances our ability to create value for shareholders and is made possible by our balance sheet strength and commitment to disciplined capital allocation.” said Emanuel “Manny” Hilario, President and CEO of The ONE Group.
• The stock has a market cap of ~$214M and has seen a decline in price of 35% over the last one year.
• Shares climb 12% during after market trading hours.

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