Share Buyback Plan Approved by Future (LON:FUTR) Board

Key Points

• The Board of Directors of Future (LON:FUTR) has approved a stock buyback plan, indicating that leadership believes the shares are undervalued.
• Future's stock traded at GBX 712.84 ($9.46) with an average trading volume of 728,176 shares on the day of the announcement.
• Recently, insider purchases by Kevin Li Ying and Sharjeel Suleman indicate confidence in the company, with a total of 23,131 shares bought at prices around GBX 647 to 648.

Future (LON:FUTR - Get Free Report) announced that its Board of Directors has authorized a stock buyback plan on Friday, August 1st, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Future in a research note on Friday, July 18th.

Future Price Performance

Future stock traded down GBX 0.66 ($0.01) during trading hours on Friday, hitting GBX 712.84 ($9.46). 728,176 shares of the company traded hands, compared to its average volume of 706,436. The firm has a market cap of £771.86 million, a P/E ratio of 9.13, a P/E/G ratio of 0.64 and a beta of 1.01. The company has a quick ratio of 0.60, a current ratio of 0.69 and a debt-to-equity ratio of 31.50. The firm's 50-day simple moving average is GBX 715.14 and its two-hundred day simple moving average is GBX 782.50. Future has a 1-year low of GBX 631 ($8.38) and a 1-year high of GBX 1,151.11 ($15.28).

Insiders Place Their Bets

In other news, insider Kevin Li Ying purchased 15,449 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was bought at an average cost of GBX 647 ($8.59) per share, with a total value of £99,955.03 ($132,671.93). Also, insider Sharjeel Suleman purchased 7,682 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of GBX 648 ($8.60) per share, with a total value of £49,779.36 ($66,072.95). 8.16% of the stock is owned by insiders.

Future Company Profile

Future is a global platform for specialist media underpinned by proprietary technology, enabled by data; with diversified revenue streams

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