Hastings authorizes $5 million stock repurchase
Program aimed at increasing stockholder value
By Susanne Ault -- Video Business, 12/8/2008
DEC. 8 | Hastings Entertainment’s board of directors has authorized a $5 million stock repurchase program.
This amount adds to previously announced repurchases totaling $22.5 million.
“We believe that our stock price certainly does not reflect the value of our company, and we are using the program to provide our shareholders additional opportunities to realize investment returns,” Hastings chairman and CEO John Marmaduke said.
Under its stock repurchase terms, Hastings can acquire stock in the open market at current market prices or in privately negotiated transactions.
Hastings shares were priced at $1.75 at midday trading on Monday.
