Rightmove Continues Share Buy-Back Program with Latest Purchase

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

Rightmove plc announced the purchase of 90,000 of its own shares as part of an ongoing share buy-back program, with shares bought at an average price of 760.814p. This transaction represents 0.0116% of the voting rights and contributes to the total of over 531 million shares repurchased since the program’s inception in 2007, reflecting the company’s strategy 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 performance and positive technical indicators are significant strengths supporting its high stock score. Despite the high valuation indicated by the P/E ratio, the company’s robust fundamentals and strategic initiatives like share buy-backs justify its premium. These factors, combined with an overall positive market momentum, make Rightmove an attractive investment in the Internet Content & Information industry.

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 buying, selling, and renting properties, serving a wide range of stakeholders including real estate agents, property developers, and potential buyers and renters.

Average Trading Volume: 2,289,415

Technical Sentiment Signal: Buy

Current Market Cap: £5.85B

Learn more about RMV stock on TipRanks’ Stock Analysis page.