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Auto Trader ( (GB:AUTO) ) has shared an update.
Auto Trader Group plc announced the purchase of 372,900 of its own ordinary shares for cancellation at an average price of 776.0516 pence per share. This transaction, executed through Merrill Lynch International, is part of the company’s buyback program, which aims to reduce the number of shares in circulation, potentially increasing the value of remaining shares and enhancing shareholder value. Following this transaction, the company has 871,279,688 ordinary shares in issue and holds 5,216,802 shares in treasury, impacting the total number of voting rights available to shareholders.
The most recent analyst rating on (GB:AUTO) stock is a Buy with a £880.00 price target. To see the full list of analyst forecasts on Auto Trader stock, see the GB:AUTO Stock Forecast page.
Spark’s Take on GB:AUTO Stock
According to Spark, TipRanks’ AI Analyst, GB:AUTO is a Outperform.
Auto Trader’s overall stock score reflects its strong financial performance and positive earnings call insights, which are slightly tempered by mixed technical indicators and a relatively high valuation. The company’s robust market position and successful product strategies support its growth potential, despite some challenges in vehicle pricing and segment losses.
To see Spark’s full report on GB:AUTO stock, click here.
More about Auto Trader
Auto Trader Group plc operates in the automotive industry, primarily focusing on the buying and selling of vehicles through its online marketplace platform. The company is a leading player in the UK market, providing services that connect buyers and sellers of new and used cars.
Average Trading Volume: 1,855,421
Technical Sentiment Signal: Hold
Current Market Cap: £6.83B
Find detailed analytics on AUTO stock on TipRanks’ Stock Analysis page.