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Auto Trader ( (GB:AUTO) ) has provided an update.
Auto Trader Group plc announced the repurchase of 700,000 of its ordinary shares for cancellation at an average price of 596.2752 pence per share. This transaction, conducted through Deutsche Bank AG, London Branch, is part of the company’s buyback program and affects the total number of voting rights, which now stands at 850,726,378. This move is likely to impact the company’s share value and market perception, reflecting a strategic effort to manage capital and shareholder value.
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 digital automotive marketplaces. The company offers a platform for buying and selling vehicles, catering to both consumers and automotive retailers in the UK.
Average Trading Volume: 3,489,557
Technical Sentiment Signal: Sell
Current Market Cap: £5.08B
See more data about AUTO stock on TipRanks’ Stock Analysis page.