Reis (REIS) Acquires 194K Shares on Current Stock Buyback Plan
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Reis, Inc. (NASDAQ: REIS) announced that the Company has purchased 194,123 shares of Reis's common stock on the open market, pursuant to a stock repurchase program announced on December 12, 2008. The purchase price of the shares was $2.63 per share.
Under the ongoing stock repurchase program, Reis is permitted to repurchase an aggregate of up to $1,500,000 of its common stock. As of today, Reis had repurchased an aggregate of 214,523 shares of its common stock at an average price of $2.75 per share, for an aggregate purchase price, including commissions, of approximately $600,000. As a result, Reis is currently authorized to repurchase an additional approximately $900,000 under the program. [SM]
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