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Rightmove Continues Share Buy-Back Program with Latest Purchase

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Rightmove Continues Share Buy-Back Program with Latest Purchase

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An update from Rightmove ( (GB:RMV) ) is now available.

Rightmove plc announced the purchase of 50,000 of its ordinary shares as part of its ongoing share buy-back program, with the shares purchased at an average price of 794.999p each. This transaction represents a small fraction of the company’s total voting rights and continues Rightmove’s long-term strategy of share repurchases, having bought over 533 million shares since 2007, which may impact shareholder value and market perception.

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 shows a strong financial foundation and proactive shareholder value enhancement through buy-backs. However, valuation concerns due to a high P/E ratio and a mixed technical outlook 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 for buying, selling, and renting properties. The company focuses on providing a digital platform for property listings and real estate services in the UK market.

Average Trading Volume: 1,862,327

Technical Sentiment Signal: Buy

Current Market Cap: £6.08B

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

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