CarGurus Board Authorizes Share Repurchase Program

(RTTNews) - CarGurus (CARG) said its Board has authorized the company to repurchase up to $250 million of its class A common stock as part of its capital deployment strategy. The share repurchase program has an expiration date of December 31, 2023.

"We are committed to using cash flow from operations to drive business growth, thoughtful add-on acquisitions and strategically returning cash to shareholders through a share repurchase," said Jason Trevisan, Chief Executive Officer.

CarGurus is a multinational, online automotive platform for buying and selling vehicles.