Naked Wines (LON:WINE) Announces Stock Repurchase Program

Naked Wines (LON:WINE) declared that its Board of Directors has approved a stock buyback program on Monday, March 23rd, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Naked Wines Trading Up 2.4%

Shares of LON:WINE traded up GBX 1.60 on Monday, hitting GBX 67.60. The company had a trading volume of 53,331 shares, compared to its average volume of 122,306. The firm’s 50-day simple moving average is GBX 72.96 and its two-hundred day simple moving average is GBX 73.94. Naked Wines has a 1 year low of GBX 52.10 and a 1 year high of GBX 95. 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 firm 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 Activity

In related news, insider Jack Pailing purchased 38,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was bought at an average cost of GBX 62 per share, with a total value of £23,560. Insiders have bought a total of 86,350 shares of company stock worth $5,921,900 in the last 90 days. 17.93% of the stock is owned by insiders.

About Naked Wines

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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.