TravelCenters shareholder urges buyback

New York - RDG Capital Fund Management, a shareholder of TravelCenters of America, is recommending a major financial step. RDG has delivered a letter to the TravelCenters board of directors strongly recommending a $100 million share buyback that RDG estimates would increase stock price by more than 33% to $17 per share.



RDG commended the board for its recently announced initiative to monetize a portion of the company's real estate. However, RDG believes the collection of complex sale leaseback transactions has led to investor confusion, which has caused the company's share price to remain significantly undervalued.



The full text of the letter can be found here.