Rightmove Announces Share Buy-Back Program

An announcement from Rightmove ( (GB:RMV) ) is now available.

Rightmove plc has executed a share buy-back program, purchasing 124,000 of its ordinary shares at an average price of 759.496p per share. This transaction represents 0.0160% of the total voting rights, and the purchased shares will be cancelled, reflecting the company’s ongoing efforts to manage its capital structure and enhance shareholder value.

The most recent analyst rating on (GB:RMV) stock is a Sell with a £590.00 price target. To see the full list of analyst forecasts on Rightmove stock, see the GB:RMV Stock Forecast page.

Spark’s Take on GB:RMV Stock

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

Rightmove demonstrates strong financial performance and strategic initiatives like share buy-backs that enhance shareholder value. While technical indicators reflect stable market conditions, the high P/E ratio suggests potential overvaluation, which slightly tempers the overall score.

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

More about Rightmove

Rightmove plc operates in the real estate industry, primarily offering online property listings and services. The company focuses on providing a digital platform for property buyers, sellers, and real estate agents in the UK market.

Average Trading Volume: 2,298,599

Technical Sentiment Signal: Buy

Current Market Cap: £5.82B

For an in-depth examination of RMV stock, go to TipRanks’ Stock Analysis page.