And the reasons appear valid - since the PPS was at a one year low ("undervalued" is a reasonable conclusion when the PPS was the lowest it had been in a year).

As they also filed on the same day, albeit was dated September 17,

We’ve suspended share repurchases for a while because I no longer believe this is the best use of the company’s cash at this time. Although we still believe our shares are undervalued, I strongly believe we can put that money to better and more profitable use elsewhere.

what does the last sentence signify given that money was put into share repurchases rather than a "better and more profitable use elsewhere"?

Be well