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GB Group plc ( (GB:GBG) ) has issued an announcement.
GB Group plc has announced the purchase of 27,642 of its own Ordinary Shares as part of its ongoing share buyback programme. The transaction, executed through Deutsche Numis, involved shares being bought at prices ranging from 220.00 GBp to 221.50 GBp. These shares will be cancelled, reducing the total number of shares in issue to 246,847,385. This move is part of GB Group’s strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:GBG) stock is a Hold with a £223.00 price target. To see the full list of analyst forecasts on GB Group plc stock, see the GB:GBG Stock Forecast page.
Spark’s Take on GB:GBG Stock
According to Spark, TipRanks’ AI Analyst, GB:GBG is a Neutral.
The overall stock score of 56 reflects a mixed outlook for GB Group plc. The company’s strong financial performance, particularly in cash flow and profitability improvements, is a positive factor. However, technical indicators suggest a bearish trend, and the high P/E ratio raises concerns about overvaluation. The lack of earnings call and corporate events data limits further insights.
To see Spark’s full report on GB:GBG stock, click here.
More about GB Group plc
Average Trading Volume: 1,405,828
Technical Sentiment Signal: Sell
Current Market Cap: £532.8M
Learn more about GBG stock on TipRanks’ Stock Analysis page.