Bluegreen Vacations stocks jump

Bluegreen Vacations made the news last week: “The Motley Fool” ran an interesting article on November 27, 2018, “Why Spirit Airlines, Bluegreen Vacations, and StoneCo Jumped Today.” As you might imagine, it was all thanks to clever stock moves. Here’s what they said, “Bluegreen Vacations saw its stock climb 17% in the wake of the decision of its board of directors to implement a share repurchase program. The vacation ownership specialist and resort manager said that it would buy back as much as 3 million shares, paying no more than $35 million toward repurchases. With the company already 90% owned by BBX Capital, the limited float means that the 3 million share authorization represents more than 40% of outstanding shares held by the public. Interest among investors in companies specializing in timeshares and other vacation real estate has been solid lately. However, with the share price jumping so far, Bluegreen might choose not to make any repurchases under the program unless the stock falls back.”

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