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An update from Auto Trader ( (GB:AUTO) ) is now available.
Auto Trader Group plc announced the repurchase of 650,000 of its ordinary shares for cancellation at an average price of 604.9849 pence per share. This transaction, conducted 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 856,882,722 ordinary shares in issue, with 852,094,888 voting rights available for 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 digital automotive marketplaces. The company provides a platform for buying and selling new and used vehicles, connecting consumers with car dealers and manufacturers.
Average Trading Volume: 3,327,004
Technical Sentiment Signal: Sell
Current Market Cap: £5.19B
For a thorough assessment of AUTO stock, go to TipRanks’ Stock Analysis page.