SMS downgraded to Hold

SMS Management & Technology seems to have temporarily stopped buying back its shares after a two-week spell between 13 Jun and 27 Jun in which it bought back 705,226 shares for a total of $2,325,670, at prices between $3.21 and $3.47. The buyback notification given on 29 May was for 3.5m shares, so there's scope for more to be bought, but presumably only if the share price dips again. We'd like to think the intention was simply to return excess cash to shareholders, rather than to support the share price, but it seems to have done both, and the...

SMS Management & Technology seems to have temporarily stopped buying back its shares after a two-week spell between 13 Jun and 27 Jun in which it bought back 705,226 shares for a total of $2,325,670, at prices between $3.21 and $3.47. The buyback notification given on 29 May was for 3.5m shares, so there's scope for more to be bought, but presumably only if the share price dips again.

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