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Rightmove ( (GB:RMV) ) has issued an announcement.
Rightmove plc has announced the purchase of 50,000 of its ordinary shares as part of its ongoing share buy-back program, with the shares being acquired at an average price of 777.781p. This transaction represents a continuation of Rightmove’s strategy to manage its share capital, having repurchased over 534 million shares since the program’s inception in 2007. The purchased shares will be cancelled, slightly reducing the total number of voting rights, and demonstrating the company’s commitment to enhancing 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 Neutral.
Rightmove’s strong financial performance is the most significant factor, supported by robust profit margins and cash flow. Technical analysis shows moderate bullish momentum, while valuation metrics indicate the stock may be overvalued. The share buy-back program is a positive corporate event, but recent analyst ratings suggest caution.
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 related services. The company focuses on providing a platform for property buyers, sellers, and renters to connect and facilitate real estate transactions.
Average Trading Volume: 1,822,462
Technical Sentiment Signal: Buy
Current Market Cap: £6.04B
For an in-depth examination of RMV stock, go to TipRanks’ Overview page.