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Auto Trader ( (GB:AUTO) ) has issued an announcement.
Auto Trader Group plc announced the repurchase of 160,739 of its ordinary shares at an average price of 617.7545 pence per share, as part of its ongoing share buyback program. This transaction, executed through Deutsche Bank AG, London Branch, reflects the company’s strategy to manage its capital structure and potentially enhance shareholder value by reducing the number of shares in circulation, thereby increasing the ownership stake of existing shareholders.
The most recent analyst rating on (GB:AUTO) stock is a Buy with a £669.00 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 strong financial performance and strategic share buybacks are significant positives, supporting a stable outlook. However, weak technical indicators and challenges in certain revenue streams slightly temper the overall score.
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. The company is a leading digital automotive marketplace in the UK, providing a platform for consumers to buy and sell new and used cars.
Average Trading Volume: 3,585,813
Technical Sentiment Signal: Sell
Current Market Cap: £5.11B
See more data about AUTO stock on TipRanks’ Stock Analysis page.