$215 Million Worth, Specifically
Sega Sammy Holdings is readying for what may be tough financial times ahead and, as the saying goes, you have to spend money to make money. Reuters recently reported that Sega’s parent company is planning to buy back $215 million of stock shares; that amounts to just under four percent of their total shares outstanding. This buyback will take place between June 7th and September 28th of this year.
This move should positively impact the company’s financial statements, and investors appear to see things the same way. At the time of this writing, Sega Sammy’s stock has risen six percent to $4.60, which is near its daily high of $4.75. We will continue to track the company’s financial situation and pass along any new information.