The PME management don't view PME shares as expensive, they see them as cheap right now.
In fact, they have bought back at much higher PEs than now. Feb 2024 for example where they are now 100% up on their investment.
Of course, management know what is coming down the pipeline and they feel buying shares back now is a good move. I, for one, think so too.
It shows how confident the management is in the future of the company, in both the near term and the long term. And let's be honest, they are one of the best management teams on the ASX.
PME Price at posting:
$198.28 Sentiment: Buy Disclosure: Held
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