Stock Buyback Program Announced by Palace Capital (LON:PCA) Board of Directors

Palace Capital (LON:PCA) announced that its board has authorized a stock repurchase program on Friday, April 17th, RTT News reports. The company plans to repurchase 400,000,000,000 shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Palace Capital Price Performance

LON PCA opened at GBX 172 on Monday. The company has a 50-day simple moving average of GBX 197.45 and a two-hundred day simple moving average of GBX 205.97. Palace Capital has a 12-month low of GBX 166.22 and a 12-month high of GBX 235. The firm has a market cap of £34.79 million, a price-to-earnings ratio of 20.72, a PEG ratio of 3.37 and a beta of 0.01.

Palace Capital Company Profile

Property investment company that has a diversified portfolio of UK regional commercial real estate in carefully selected locations outside of London