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Rightmove ( (GB:RMV) ) just unveiled an announcement.
Rightmove plc has conducted a share buy-back, purchasing 50,000 ordinary shares at an average price of 771.263p per share. This transaction represents a continuation of its long-standing buy-back program, which has seen the company repurchase over 534 million shares since 2007. The recent purchase accounts for a small fraction of the company’s voting rights and will result in the cancellation of the acquired shares, potentially enhancing shareholder value by reducing the number of shares in circulation.
The most recent analyst rating on (GB:RMV) stock is a Hold with a £843.00 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 and strategic share buy-back program are positive factors. However, the stock’s high valuation and weak technical indicators, combined with bearish analyst ratings, temper the overall outlook.
To see Spark’s full report on GB:RMV stock, click here.
More about Rightmove
Rightmove plc operates in the real estate industry, primarily providing an online property portal that connects buyers, sellers, landlords, and tenants. The company focuses on offering digital solutions for property listings and real estate transactions.
Average Trading Volume: 1,881,652
Technical Sentiment Signal: Buy
Current Market Cap: £5.91B
See more data about RMV stock on TipRanks’ Stock Analysis page.