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Rightmove ( (GB:RMV) ) has provided an update.
Rightmove plc has continued to execute its long-running capital return strategy with another tranche of share buy-backs, purchasing 245,000 ordinary shares at a volume-weighted average price of 419.139p through UBS AG London Branch. The transaction, representing 0.0326% of prior voting rights, will see the acquired shares cancelled, reducing the ordinary shares in issue to 752,081,083, with 10,627,370 held in treasury.
Since launching its buy-back programme in December 2007, Rightmove has repurchased a total of 556,345,627 shares, underscoring management’s sustained commitment to returning excess capital and supporting earnings per share. The latest reduction in free float further tightens the share base, which may enhance shareholder value over time and signals confidence in the company’s financial position and long-term prospects.
The most recent analyst rating on (GB:RMV) stock is a Sell with a £4.55 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 that provides digital platforms and data services for buying, selling and renting residential and commercial real estate. It generates revenue primarily from estate agents, lettings agents and new homes developers who list properties and use its advertising and data tools to reach prospective buyers and tenants.
Average Trading Volume: 4,633,561
Technical Sentiment Signal: Sell
Current Market Cap: £3.16B
For a thorough assessment of RMV stock, go to TipRanks’ Stock Analysis page.