- CarGurus, Inc's CARG board approved a share repurchase of up to $250 million.
- "We are committed to using cash flow from operations to drive business growth, thoughtful add-on acquisitions, and strategically returning cash to shareholders through a share repurchase," said Jason Trevisan, Chief Executive Officer.
- Also Read: CarGurus Stock Has Collapsed -- But Analysts Say It's Actually Outperforming Dire Industry Circumstances: Here's Why
- CarGurus held $404.4 million in cash and equivalents as of September 30. It generated $73.2 million in cash from operations and $68.9 million in free cash flow during the third quarter of 2022.
- CarGurus is a company that acts as an online automotive marketplace connecting buyers and sellers of new and used cars.
- Price Action: CARG shares traded higher by 13.66% at $13.56 on the last check Thursday.
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