They way these guys work , I wouldn't expect anything less than that exact set of actions. They are in it to protect and increase their investment and their earnings. Hell , they can make the market cap go crazy , still make stupid profit , and just save the cash after the debt is gone (which is soon).
The o/s is fine... very low in fact. The float is even smaller, but not so small that there's no liquidity. It's small enough, though, that big moves are possible.