Rightmove Continues Share Buy-Back Program

Rightmove ( (GB:RMV) ) just unveiled an announcement.

Rightmove plc announced the purchase of 120,000 of its ordinary shares as part of its ongoing share buy-back program, with the shares acquired at an average price of 774.305p. This transaction represents a small fraction of the company’s total voting rights, and the purchased shares will be cancelled, reflecting Rightmove’s continued efforts to manage its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (GB:RMV) stock is a Sell with a £5.55 price target. To see the full list of analyst forecasts on Rightmove stock, see the GB:RMV Stock Forecast page.

Spark’s Take on GB:RMV Stock

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

Rightmove’s strong financial health and positive corporate actions, such as share buy-backs, are significant positive factors. However, the stock’s high valuation and technical indicators suggesting caution due to potential overvaluation temper 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 an online property portal that connects property seekers with sellers and agents. The company focuses on providing comprehensive property listings and related services to facilitate the buying, selling, and renting of properties in the UK market.

Average Trading Volume: 2,280,659

Technical Sentiment Signal: Buy

Current Market Cap: £5.97B

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