Blucora Boosts Stock Buyback Authorization By $35 Mln

(RTTNews) - Blucora, Inc. (BCOR) said Wednesday that its Board of Directors has expanded the company's share repurchase authorization by $35 million, bringing the total authorization to $85 million.

The repurchase authorization term was also extended to May 21, 2016.

Under the previous repurchase authorization, the company has repurchased 1.6 million shares for $32 million through May 23, including 1.2 million shares for $22 million during the second quarter of 2014.

The company has $53 million remaining under the expanded repurchase authorization.

The company's cash, cash equivalents, and marketable investments at March 31, 2014 totaled about $336.0 million. As of May 23, 2014, Blucora had about 41.1 million shares outstanding.