Ever Glory Shares Gain After $5M Stock Buyback Announcement

by Shivani Kumaresan, Benzinga Staff Writer

August 2, 2021 6:56 AM | 1 min read | Make a Comment

Fashion apparel retailer Ever Glory International Group Inc's EVK Board of Directors has authorized a stock repurchase program of up to $5 million of its outstanding common stock on or before December 31, 2021.
The company will purchase shares of its common stock through open market transactions and privately negotiated transactions.
"We believe our stock is a good value, and the Board's approval of this stock repurchase program is recognition of the long-term prospects in our Company's intrinsic value and the undervalued price of our stock," said CEO Yihua Kang.
Ever-Glory held $123.7 million in cash and equivalents as of March 31, 2021.
Price action: EVK shares traded higher by 7.96% at $2.44 in premarket on the last check Monday.

Posted In: News Penny Stocks Buybacks Briefs

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