SM&A; Buys Up 112,000 of Its Own Shares
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SM&A; Corp., the Newport Beach provider of management services, said Friday that it purchased 112,000 shares of its common stock at an average price of $7.92 a share.
SM&A; announced in December that its board had authorized the company to buy up to 300,000 shares from time to time because the company believed its stock was undervalued. Just before the announcement, the stock had hit a 52-week low of $8 a share. The announcement caused the price of the shares to jump 34% in one day.
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