Share Repurchase Program Declared by Naked Wines (LON:WINE) Board of Directors

Naked Wines (LON:WINE) announced that its Board of Directors has approved a share buyback plan on Monday, March 23rd, RTT News reports. The company plans to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Naked Wines Stock Up 2.4%

WINE stock traded up GBX 1.60 during trading on Monday, reaching GBX 67.60. The stock had a trading volume of 53,331 shares, compared to its average volume of 122,306. Naked Wines has a one year low of GBX 52.10 and a one year high of GBX 95. The company’s 50 day moving average is GBX 72.96 and its two-hundred day moving average is GBX 73.94. The company has a quick ratio of 0.29, a current ratio of 1.50 and a debt-to-equity ratio of 8.40. The company has a market capitalization of £46.24 million, a price-to-earnings ratio of -32.19, a P/E/G ratio of 0.40 and a beta of 1.54.

Insider Buying and Selling at Naked Wines

In other news, insider Jack Pailing purchased 38,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was bought at an average price of GBX 62 per share, for a total transaction of £23,560. Over the last ninety days, insiders have purchased 86,350 shares of company stock worth $5,921,900. 17.93% of the stock is owned by corporate insiders.

Naked Wines Company Profile

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Naked Wines plc, together with its subsidiaries, engages in the retailing of wines and spirits in the United Kingdom, the United States, and Australia. The company offers its products online.