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MONY Group PLC Executes Share Buyback Plan

Story Highlights
  • MONY Group PLC purchased 73,202 of its own shares on the London Stock Exchange.
  • The company plans to cancel the purchased shares, potentially affecting its market valuation.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
MONY Group PLC Executes Share Buyback Plan

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Moneysupermarket.com ( (GB:MONY) ) has provided an update.

MONY Group PLC, a company involved in financial services, has announced the purchase of 73,202 of its own ordinary shares on the London Stock Exchange and Multilateral Trading Facilities. The shares were bought from Morgan Stanley & Co. International Plc at prices ranging from 203.2000 pence to 206.6000 pence, with a volume-weighted average price of 204.9100 pence per share. This move is part of MONY’s previously announced plan to buy back shares, and the company intends to cancel the purchased shares, which may impact its share capital and market valuation.

The most recent analyst rating on (GB:MONY) stock is a Buy with a £300.00 price target. To see the full list of analyst forecasts on Moneysupermarket.com stock, see the GB:MONY Stock Forecast page.

Spark’s Take on GB:MONY Stock

According to Spark, TipRanks’ AI Analyst, GB:MONY is a Neutral.

Moneysupermarket.com is in a strong financial position with effective management of resources and risks, supported by a solid balance sheet and strong cash flow generation. However, the technical analysis shows short-term bearish signals, and the valuation highlights a potential anomaly in the dividend yield. Positive corporate events, particularly share buybacks, reflect management’s confidence in future growth, supporting an overall positive outlook despite some challenges.

To see Spark’s full report on GB:MONY stock, click here.

More about Moneysupermarket.com

Average Trading Volume: 1,002,224

Technical Sentiment Signal: Buy

Current Market Cap: £1.1B

For detailed information about MONY stock, go to TipRanks’ Stock Analysis page.

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