Naked Wines (LON:WINE) to Repurchase 0 Stock

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

Naked Wines Stock Up 2.4%

WINE stock opened at GBX 67.60 on Tuesday. The company has a market cap of £46.24 million, a PE ratio of -32.19, a price-to-earnings-growth ratio of 0.40 and a beta of 1.54. The business has a 50-day simple moving average of GBX 72.96 and a 200 day simple moving average of GBX 73.94. Naked Wines has a 52 week low of GBX 52.10 and a 52 week 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.

Insider Buying and Selling

In other news, insider Jack Pailing bought 38,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was bought at an average cost of GBX 62 per share, for a total transaction of £23,560. Over the last 90 days, insiders have bought 86,350 shares of company stock valued at $5,921,900. 17.93% of the stock is owned by company 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.