I wrote in an earlier blog that I would likely exit my position in Ebix if the company had not repurchased shares in the 3rd quarter following their announcement of a $ 100 million share repurchase program. (longtermvalue.wordpress.com)
On a capital return basis, IMN management should have the company repurchase shares at this level but that may be expecting far too much from management given its track record. (greenbackd.com)
Stock buybacks occur when companies repurchase shares of their own stock. (vox.com)