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U.S. Global Investors, Inc. (NASDAQ: GROW) (the "Company"), a registered investment advisory firm with longstanding experience in global markets and specialized sectors, today is pleased to announce that it repurchased 102,636 of its own shares in February 2024, at a net cost of approximately $281,000. This represents a substantial increase of nearly 200% from the number of shares purchased the same month a year earlier.
As a reminder, the Board of Directors (the "Board") modified the Company's buyback program in February 2022, increasing the annual limit from $2.75 million to $5 million. Since March 2022, the Company has bought back around 1 million of its shares.
"U.S. Global Investors is committed to enhancing shareholder value, and buying back our own stock is just one way that demonstrates our strategic approach to capital allocation. It also showcases our confidence in the Company's future prospects," says Frank Holmes, the Company's CEO and Chief Investment Officer. "We believe GROW is deeply undervalued right now, and we will continue buying as small-cap stocks remain under pressure from higher borrowing costs."
Posted In: GROW
