Stealthgas Inc. (GASS)

[tigerpac]

Guess I was wrong as not only did they purchase 3.9 million shares, they expanded the buyback by $10 million. Although a piece of me thinks the buyback was done so the executives could exercise some of their then out of the money options and sell them (as inter-related company transactions are commonplace).

These shipping companies tend to issue shares when the stock price is high and then buyback when the prices are much lower. Akin to shorting your own stock.

Let see if that trend continues or if the leopard has actually changed its spots.