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Rap Sheet

Author:

Jester Debunker

Subject:

Off Topic

Date:

12/11/15 at 12:10 PM CST

 

 

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Sentiment:

Neutral

GME struggling

November NPD shows retail software down 7%, and GME is now $30.57. Analysts are finally waking up. Stifel has cut estimates, Pacific Crest calls it "shockingly bad". 

blogs.barrons.com/te...crest/

It's interesting now to review their buyback activity. In the last 4 years they have spent $1,165.9M to buy 38.5M shares. That's an average price of $30.28. Just think, well over a billion dollars that could have served the company well on their balance sheet, blown so the execs could extract more for themselves with their share grants and eps bonuses.

 

Since January 2010, our Board of Directors has authorized several share repurchase programs authorizing our management to repurchase our Class A Common Stock. Since the beginning of fiscal 2011, each individual authorization has been for $500 million. Our general practice is to seek Board of Directors’ approval for a new authorization before the existing one is fully used to ensure that we are always able to repurchase shares. For fiscal 2012, we repurchased 19.9 million shares for an average price per share of $20.60 and a total of $409.4 million. For fiscal 2013, we repurchased 6.3 million shares for an average price per share of $41.12 and a total of $258.3 million. For fiscal 2014, we repurchased 8.4 million shares for an average price per share of $39.50 and a total of $333.4 million.

During the first three quarters of fiscal 2015, we repurchased 3.6 million shares of our Class A Common Stock at an average price per share of $41.95 for a total of $152.1 million. Between November 1, 2015 and December 1, 2015, we repurchased 0.3 million shares at an average price per share of $39.93 for a total of $12.7 million.


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Author:

LongTerm CapGains

Subject:

Off Topic

Sentiment:

Neutral

Date:

12/11/15 at 12:17 PM CST

IBM is a clasic example of spending cash that could have served investors better as heftier dividend increases. I bet most of the shares they bought back are at much higher prices.


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Author:

LongTerm CapGains

Subject:

Off Topic

Sentiment:

Neutral

Date:

12/11/15 at 12:21 PM CST

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