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Stack Capital Group ( (TSE:STCK) ) has provided an update.
Stack Capital Group Inc. has announced a normal course issuer bid (NCIB) approved by the Toronto Stock Exchange, allowing the company to repurchase up to 1,095,780 common shares, which is 10% of its public float, over the next 12 months. This move is driven by the company’s belief that its shares are undervalued, and it aims to enhance shareholder value by purchasing shares at market prices for cancellation. The company has also implemented an automatic share purchase plan to facilitate these purchases even during blackout periods, ensuring flexibility and adherence to regulatory requirements.
The most recent analyst rating on (TSE:STCK) stock is a Buy with a C$15.75 price target. To see the full list of analyst forecasts on Stack Capital Group stock, see the TSE:STCK Stock Forecast page.
Spark’s Take on TSE:STCK Stock
According to Spark, TipRanks’ AI Analyst, TSE:STCK is a Neutral.
Stack Capital Group, Inc. presents a balanced investment profile with strengths in a solid balance sheet and strategic growth investments. However, challenges in operational efficiency and cash flow management are notable risks. The stock’s attractive valuation could appeal to value investors, but technical indicators suggest caution due to potential downward pressure.
To see Spark’s full report on TSE:STCK stock, click here.
More about Stack Capital Group
Stack Capital is an investment holding company that focuses on investing in equity, debt, and other securities of growth-to-late-stage private businesses. It provides shareholders with exposure to a diversified private investment portfolio and liquidity through its listing on the TSX. The company aims to maximize long-term performance through a portfolio of high-growth businesses, offering opportunities not widely available to most Canadian investors.
Average Trading Volume: 19,403
Technical Sentiment Signal: Buy
Current Market Cap: C$160.3M
See more insights into STCK stock on TipRanks’ Stock Analysis page.