Stock Repurchase Plan Initiated by Tuniu (TOUR) Board
Tuniu (NASDAQ:TOUR) declared that its Board of Directors has initiated a share repurchase program, which allows the company to repurchase $100.00 million in shares on Friday, January 12th, EventVestor reports. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Tuniu (NASDAQ:TOUR) traded down $0.10 during midday trading on Friday, hitting $7.61. 122,600 shares of the company traded hands, compared to its average volume of 187,063. Tuniu has a twelve month low of $6.69 and a twelve month high of $9.88. The company has a market capitalization of $967.75, a PE ratio of -3.69 and a beta of 1.45.
TOUR has been the subject of a number of recent analyst reports. Credit Suisse Group started coverage on Tuniu in a report on Tuesday, October 10th. They issued an “outperform” rating and a $11.00 price objective for the company. BidaskClub downgraded Tuniu from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th.
Tuniu Corporation is an online leisure travel company. The Company offers a selection of packaged tours, including organized tours and self-guided tours, as well as travel-related services for leisure travelers. Its online platform, which consists of its tuniu.com Website and mobile platform, provides product and travel information to enable leisure travelers to plan their travels.
Receive News & Ratings for Tuniu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tuniu and related companies with MarketBeat.com's FREE daily email newsletter.