Rightmove Continues Long-Running Buyback With 250,000-Share Repurchase

Rightmove ( (GB:RMV) ) has shared an update.

Rightmove plc has continued its long-running capital return strategy by repurchasing 250,000 ordinary shares, equal to about 0.0332% of existing voting rights, at a volume-weighted average price of 437.303p through UBS AG London Branch, with the shares to be cancelled. The latest transaction brings the total number of shares bought back since the programme began in 2007 to 554,642,729, leaving 753,779,107 shares in issue excluding treasury and signalling an ongoing commitment to balance sheet efficiency and shareholder returns.

The company now holds 10,632,244 shares in treasury following this latest round of buybacks, modestly increasing earnings per share for remaining investors and reinforcing management’s use of surplus cash to shrink the equity base. By steadily reducing its free-float over time, Rightmove is consolidating ownership while maintaining compliance with U.K. market abuse regulations that govern issuer dealings in their own securities.

The most recent analyst rating on (GB:RMV) stock is a Hold with a £455.00 price target. To see the full list of analyst forecasts on Rightmove stock, see the GB:RMV Stock Forecast page.

Spark’s Take on RMV Stock

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

The score is driven primarily by outstanding financial performance (high margins, strong free cash flow, low leverage) and a supportive earnings outlook with continued capital returns. These positives are tempered by weak technical trends (below key longer-term moving averages with negative MACD) and only moderate valuation support (P/E ~15.9, ~2.27% yield).

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

More about Rightmove

Rightmove plc is a U.K.-based online property portal operator that provides digital platforms for advertising residential and commercial real estate. The company focuses on connecting estate agents, landlords, developers and home seekers, generating revenue primarily through listing fees and related advertising services within the U.K. housing market.

Average Trading Volume: 4,696,447

Technical Sentiment Signal: Sell

Current Market Cap: £3.28B

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