Tranche Update on CarGurus, Inc.'s Equity Buyback Plan announced on November 7, 2023.
November 07, 2024 at 04:16 pm EST
Share
From July 1, 2024 to September 30, 2024, the company has repurchased 164,301 shares, representing 0.16% for $3.7 million. With this, the company has completed the repurchase of 6,357,302 shares, representing 5.96% for $146.11 million under the buyback announced on November 7, 2023.
CarGurus, Inc. (CarGurus) is a multinational, online automotive platform for buying and selling vehicles that offers both digital retail solutions and the CarOffer digital wholesale platform. The CarGurus platform enables consumers to buy and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, instantly acquire, effectively market, and quickly sell vehicles, all with a nationwide reach. The Company operates through two segments: U.S. Marketplace and Digital Wholesale. The U.S. Marketplace segment provides marketplace services for customers within the United States. The Digital Wholesale segment provides Dealer-to-Dealer and Instant Max Cash Offer (IMCO) services and products which are sold on the CarOffer platform. The Company operates online marketplaces under the CarGurus brand in Canada and the United Kingdom. It also operates the Autolist and PistonHeads online marketplaces in the United States and the United Kingdom.