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Pep Boys - Manny, Moe & Jack Message Board

  • bluebloodedtrader bluebloodedtrader Apr 17, 2013 7:45 AM Flag

    4th quarter share buyback

    the good news is PBY only spent $300,000 out of its $50 million allotted on stock purchases in the fourth quarter. Management said this in its Conference call ( after an analyst asked the question).Management indicated that they didn't want to chase the stock higher and were waiting for a more appropriate time to make the purchases and were prohibited of buying shares within two weeks of its earnings release. This means, starting today, the purchasing should be heavy, as the company will now get substantially more bang for its buck after the stock's recent slide.