Live Ventures Announces Repurchase of 65,668 Shares of Common Stock During the Fiscal Quarter

Rhea-AI Summary

Live Ventures Incorporated (Nasdaq: LIVE) announced the repurchase of 65,668 shares of its common stock at an average price of $31.72 during Q2 fiscal 2022, ending March 31, 2022. This aligns with the company's strategic focus on maximizing stockholder value through business acquisitions and internal initiatives. Since launching a $10 million stock repurchase plan in February 2018, Live Ventures has repurchased 484,138 shares for approximately $5.4 million, at an average price of $11.06, with $4.6 million remaining for future buybacks.

Positive

• Completed repurchase of 65,668 shares at an average price of $31.72.
• Established a $10 million stock repurchase plan, with $4.6 million remaining.
• Overall positive strategic focus on maximizing shareholder value.

Negative

• Stock repurchase at a higher average price compared to previous repurchases.

LAS VEGAS, April 05, 2022 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq: LIVE), a diversified holding company, today announced that it repurchased 65,668 shares of common stock at an average price of $31.72 per share during its fiscal 2022 second quarter ended March 31, 2022.

“We believe that our strategic focus on acquiring businesses that maximize stockholder value also gives us the ability and opportunity to look inwardly at our own Company to increase that value further,” commented Jon Isaac, President and CEO of Live Ventures. “Management firmly believes our stock repurchases represent long-term value for our stockholders.”

On February 20, 2018, the Company announced a $10.0 million common stock repurchase plan. The Company has repurchased 484,138 shares of its common stock for approximately $5.4 million, representing an average price of $11.06 per share. As of March 31, 2022, the Company has approximately $4.6 million available for repurchases under this program.

About Live Ventures
Live Ventures Incorporated (Nasdaq: LIVE) (“Live Ventures” or the “Company”) is a rapidly growing, diversified holding company with a strategic focus on value-oriented acquisitions of domestic middle-market companies. Live Venture’s acquisition strategy is sector agnostic and focuses on well-run, closely held businesses with a demonstrated track record of earnings growth and cash flow generation. The Company looks for opportunities to partner with management to build increased stockholder value through a disciplined buy-build-hold long-term focused strategy. Live Ventures was founded in 1968 and refocused in 2011 under our CEO and strategic investor, Jon Isaac. The Company’s current portfolio of diversified operating subsidiaries includes companies in the textile, flooring, tools, steel, entertainment, and financial services industries.

Contact:
Live Ventures Incorporated
Greg Powell, Director of Investor Relations
725.500.5597
gpowell@liveventures.com
liveventures.com

Source: Live Ventures Incorporated

FAQ

What recent stock repurchase did Live Ventures (LIVE) announce?

Live Ventures announced the repurchase of 65,668 shares at an average price of $31.72 during Q2 fiscal 2022.

How many shares has Live Ventures repurchased since 2018?

Since 2018, Live Ventures has repurchased 484,138 shares for approximately $5.4 million.

What is the remaining amount available for stock repurchases by Live Ventures?

Live Ventures has approximately $4.6 million available for future stock repurchases.