Rightmove Continues Share Buy-Back Program with Latest Purchase

The latest announcement is out from Rightmove ( (GB:RMV) ).

Rightmove plc announced the purchase of 124,000 of its ordinary shares as part of its ongoing share buy-back program. This transaction, executed through UBS AG London Branch, represents 0.0160% of the voting rights of the total ordinary shares prior to the purchase. The shares will be cancelled, reducing the total number of shares in issue. This move is part of a long-term strategy initiated in 2007, with the company having bought back over 531 million shares in aggregate, potentially enhancing shareholder value and optimizing capital structure.

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 Outperform.

Rightmove’s overall stock score reflects strong financial performance, supported by positive price momentum from technical analysis. The valuation suggests the stock might be overvalued, impacting its attractiveness. Corporate events like share buy-backs positively contribute, though analyst sentiment remains a potential concern.

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 platform for property listings and related services. The company focuses on connecting property buyers, sellers, and renters in the UK market.

Average Trading Volume: 2,315,744

Technical Sentiment Signal: Buy

Current Market Cap: £5.82B

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