P.A.M. Transportation Services, Inc. Commences Self Tender Offer to Purchase up to 550,000 Shares
P.A.M. Transportation Services, Inc. (PTSI)
US:NASDAQ Investor Relations:
annualreports.com/company/pam-transportation-services-inc
Company Research
Source: Business Wire
TONTITOWN, Ark.--(BUSINESS WIRE)--P.A.M. Transportation Services, Inc. (NASDAQ: PTSI) (the “Company”) today announced the commencement of a modified “Dutch auction” tender offer to purchase up to 550,000 shares, or about 2.5%, of its outstanding common stock at a price of not less than $15.50 and not more than $18.00 per share. The tender offer will expire at 5:00 p.m., Eastern Time, on May 22, 2024, unless extended or withdrawn. The Company anticipates paying for the shares tendered in the offer from its available cash and cash equivalents but may utilize funds borrowed under its existing line of credit. The Board of Directors determined that it is in the Company’s best interest to repurchase shares at this time given the Company’s financial condition and stock price.A modified “Dutch auction” tender offer allows stockholders to indicate how many shares and at what price(s) they wish to tender their shares within the specified price range. Based on the number of shares tendered a
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News
- P.A.M. Transportation Services, Inc. (NASDAQ: PTSI) had its price target lowered by analysts at Stephens from $19.00 to $17.00. They now have an "equal weight" rating on the stock.MarketBeat
- P.A.M. Transportation Services, Inc. Announces Results for the First Quarter Ended March 31, 2024 [Yahoo! Finance]Yahoo! Finance
- P.A.M. Transportation Services, Inc. Announces Results for the First Quarter Ended March 31, 2024Business Wire
- Is P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) Potentially Undervalued? [Yahoo! Finance]Yahoo! Finance
- Should Weakness in P.A.M. Transportation Services, Inc.'s (NASDAQ:PTSI) Stock Be Seen As A Sign That Market Will Correct The Share Price Given Decent Financials? [Yahoo! Finance]Yahoo! Finance
PTSI
Sec Filings
- 4/30/24 - Form SC
- 4/29/24 - Form 10-K/A
- 4/24/24 - Form SC
- PTSI's page on the SEC website