PayPoint Announces Share Buyback and Cancellation

Paypoint ( (GB:PAY) ) has shared an update.

PayPoint plc has announced the repurchase of 17,127 of its ordinary shares, with plans to cancel these shares. This move is part of a buyback program facilitated through Investec Bank plc, with the shares purchased at prices ranging from 710.00 to 716.00 pence. The cancellation of shares is expected to impact the company’s share capital, which currently stands at 70,312,754 ordinary shares, each carrying one vote. This action may influence shareholder interests and the company’s market positioning by potentially increasing the value of remaining shares.

The most recent analyst rating on (GB:PAY) stock is a Sell with a £5.10 price target. To see the full list of analyst forecasts on Paypoint stock, see the GB:PAY Stock Forecast page.

Spark’s Take on GB:PAY Stock

According to Spark, TipRanks’ AI Analyst, GB:PAY is a Outperform.

Paypoint demonstrates robust financial health with solid revenue growth and profitability. The strategic share buyback initiatives further enhance shareholder value. While the stock is attractively valued, potential bearish technical signals introduce some caution.

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

More about Paypoint

PayPoint plc operates in the financial services industry, providing payment solutions and services. The company’s primary focus is on offering convenient payment systems and services to a wide range of consumers and businesses.

Average Trading Volume: 162,161

Technical Sentiment Signal: Strong Buy

Current Market Cap: £480.7M

See more data about PAY stock on TipRanks’ Stock Analysis page.