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Auto Trader ( (GB:AUTO) ) has shared an announcement.
Auto Trader Group plc announced the repurchase of 550,000 of its ordinary shares for cancellation at an average price of 636.9842 pence per share. This transaction, executed through Deutsche Bank AG, London Branch, is part of the company’s ongoing buyback program, which aims to optimize its capital structure and enhance shareholder value. Following this transaction, the company has 860,202,722 ordinary shares in issue, with 4,975,696 shares held 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 Neutral.
Auto Trader’s strong financial performance and positive earnings call are significant strengths, indicating robust growth and operational efficiency. However, bearish technical indicators and moderate valuation suggest caution. The company’s strategic initiatives in AI and product adoption are promising, but challenges in specific revenue segments and operational losses need monitoring.
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 digital automotive marketplace in the UK, connecting consumers with sellers of new and used cars.
Average Trading Volume: 3,179,798
Technical Sentiment Signal: Sell
Current Market Cap: £5.47B
See more data about AUTO stock on TipRanks’ Stock Analysis page.