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Gulfport starts buyback plan after investor pushes for more
Just a day after its 8.1% owner Firefly Value Partners LP demanded Gulfport Energy Corp. buy back $500 million common shares within a year, the company said it will start $400 million in stock repurchases over the next 24 months. The New York-based hedge fund sent the Gulfport’s board a letter expressing concern over the Oklahoma City-based company’s depressed share price, averaging $10.18 over the last 12 months after a steady decline from a five-year high of $75.19 in 2014. Gulfport......
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