American Public Education Boosts Share Buyback Plan By $8M

American Public Education Inc APEI board of directors authorized the company to repurchase up to an additional $8.0 million of shares under the existing program.
The board has also confirmed that the company continued to have availability under its existing share repurchase program.
The company intends to pursue opportunities to use this program to repurchase additional shares.
The repurchases may be made in open market transactions or privately negotiated transactions.
American Public reported a 1% decline in its fourth-quarter FY22 sales to $152.4 million.
As of Dec. 31, 2022, total unrestricted cash and cash equivalents were approximately $102.6 million.
Price Action: APEI shares closed lower by 2.41% at $4.45 on Thursday.