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Meridian's buyback report is a compilation of corporate interest in underlying common stock and debt instruments. These announcements prove to be a key barometer to gauge sentiment. We use multiple outlets to aggregate our information including, but not limited to, the NYSE trading floor and numerous online news organizations that disseminate daily corporate press releases.
This information is an integral part of any investment formula and enlightening to traders and analysts alike. It gives a snapshot of the corporation's macro view of their stock including how the company is using available cash, whether they are churning through working capital and if they are taking on additional corporate debt. It also speaks to the company’s strategy as it identifies if they are trying to prop up their share price, stabilize share price or just outright add to EPS numbers. Lastly, it clarifies the corporation’s intentions when they announce the repurchase plan such as whether shares will be retired, put into treasury, assigned for employee stock awards or used for general corporate purposes.
Meridian operates one of the largest New York Stock Exchange floor operations affording us the opportunity to immediately identify when corporate buybacks are implemented. This unique vantage point provides our clients with an incredible market timing advantage. Some corporations want their intentions known, but most do not. Our brokers are trained to scour the NYSE trading floor acting as market detectives looking to uncover these opportunities as they arise.
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