Navient Approves New $1 Billion Share Repurchase Program

On October 23, Navient (NAVI) reported that its Board of Directors authorized a new share repurchase program. Under the new program, Navient can purchase up to $1 billion of the company’s outstanding common shares. This program is an addition to the $77 million remaining from the repurchase authorization from September 2018.

 

Jet Equities issued an alert to subscribers at 9:00 am. The last trade had been at 8:29 am for $12.33. The stock price increased throughout the day and continued to climb during the next four trading sessions. Navient closed at $14.11 on October 29 for a five-day gain of 14.4%.

 

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