Holiday RV Superstores Inc., the RV dealership chain doing business as Recreation USA, plans to repurchase up to 300,000 shares, or a little more than 4% of its own stock, the company announced.
The company had a little more than 7.3 million shares outstanding as of July 31.
“This stock buyback program reflects the (Holiday RV Superstores) Board’s confidence in the soundness of our business model and in management’s ability to execute this strategy,” said Ron Huneycutt, president and CEO. “Our stock is not fully valued in the marketplace, and we think a stock buyback is an excellent opportunity to return value to shareholders, given our progress and growth potential.”
Holiday RV Superstores stock currently trades for around $4.50 a share.