American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT), a leading provider of outdoor products, has announced a new share repurchase program. The company’s Board of Directors has approved the repurchase of up to $10 million of its outstanding common stock, starting on October 1, 2024, and concluding on September 30, 2025. This program follows the success of a previous share repurchase program, which authorized the company to buy back up to $10 million of its common stock, initiated in 2023. As of September 24, 2024, this prior program resulted in the repurchase of 412,735 shares at an average price of $8.70 per share, totaling roughly $3.6 million.
Brian Murphy, President and Chief Executive Officer of American Outdoor Brands, stated that this latest announcement reflects the board’s continued confidence in the company’s business and their commitment to maximizing shareholder value. He highlighted the company’s strong, debt-free balance sheet, which enables them to effectively allocate capital. This commitment involves prioritizing investments in growth, both organically and through strategic acquisitions, while simultaneously returning capital to shareholders.
The repurchase program allows the company to buy back shares through various methods, including open market purchases, block trades, and privately negotiated transactions. The specific amount and timing of share repurchases will be determined by management based on factors like market price, trading volume, overall market conditions, the company’s financial position, and legal requirements. It’s important to note that the program doesn’t obligate the company to buy back any specific number of shares and can be discontinued at any time.
American Outdoor Brands is a renowned company known for its diverse range of products designed for outdoor enthusiasts. Their portfolio includes popular brands like BOG, BUBBA, Caldwell, Crimson Trace, Frankford Arsenal, Grilla Grills, Hooyman, Imperial, LaserLyte, Lockdown, MEAT!, Old Timer, Schrade, Tipton, Uncle Henry, ust, and Wheeler. These brands cater to a wide range of outdoor activities, including hunting, fishing, camping, shooting, outdoor cooking, and personal security.
