What was the average price per share for Management Recruiters stock purchased in July 2020?
Management_Recruiters Franchise · 2024 FDDAnswer from 2024 FDD Document
of our common stock during 2021.
The table below summarized our common stock purchased during 2020 in more detail:
| Total shares purchased | Average price per share | Total number of shares purchased as part of publicly announced plan | Approximate dollar value of shares that may be purchased under the plan | |
|---|---|---|---|---|
| July, 2020 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 65–66)
What This Means (2024 FDD)
According to Management Recruiters' 2024 Franchise Disclosure Document, the average price per share for Management Recruiters stock purchased in July 2020 was $6.21. During that month, the company purchased 675 shares as part of a publicly announced plan. The total approximate dollar value of shares that may be purchased under the plan was $1,200,000.
In July 2020, the Board of Directors authorized a one-year repurchase plan for up to 1 million shares of common stock. During the year ended December 31, 2020, Management Recruiters purchased 23,638 shares of its common stock at an aggregate cost of approximately $146,000, resulting in an average price of $6.20 per share. These shares are held in treasury. The company did not purchase any shares of its common stock during 2021.
The stock repurchase plan and related details are disclosed in the financial statements to provide transparency to potential investors and franchisees. This information indicates Management Recruiters' strategy regarding its stock and how it manages its equity. A prospective franchisee can use this information to understand the financial decisions of the company and its approach to managing shareholder value.