Meet Group announces new $30M share repurchase authorization
The Meet Group announced that its Board of Directors has approved a share repurchase program that enables the company to purchase up to $30M of its shares of common stock from time to time in the open market or through negotiated transactions through 2021. The company expects to fund purchases with cash from operations. "The new stock repurchase program underscores our belief in the livestreaming video opportunity and our positive long-term outlook for our business," said Geoff Cook, CEO of The Meet Group. "We expect to continue to generate meaningful cash flow, enabling us to buy back shares as we execute on our commitment to drive value for our shareholders." The Meet Group had approximately 75.6 million shares of common stock outstanding as of May 31, 2019.