DoubleVerify Announces $150M Share Repurchase Program

DoubleVerify Holdings, Inc. (NYSE: DV) has just announced a $150 million share repurchase program. As of March 31, 2024, the company had approximately $302 million in cash and cash equivalents. Additionally, as of April 29, 2024, DoubleVerify had approximately 172 million shares of common stock outstanding.

This move comes as DoubleVerify, a leading software platform for digital media measurement, data, and analytics, aims to enhance shareholder value. The repurchase program allows the company to buy back its outstanding common stock through open market purchases, subject to compliance with applicable securities laws and other legal requirements.

The company's decision to initiate the repurchase program suggests a confidence in its financial position and potential future cash flows. It will be interesting to see how this move impacts the company's stock performance and financial metrics in the coming periods. Today the company's shares have moved 3.7% to a price of $19.57. For more information, read the company's full 8-K submission here.

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