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Rightmove ( (GB:RMV) ) just unveiled an update.
Rightmove plc announced the purchase of 95,000 of its own shares as part of its ongoing share buy-back program. This transaction, executed through UBS AG London Branch, represents a small fraction of the company’s total voting rights and is part of a larger strategy that has seen the company repurchase over 530 million shares since 2007. The repurchased shares will be cancelled, which may positively impact the company’s share value by reducing the number of shares in circulation.
The most recent analyst rating on (GB:RMV) stock is a Sell with a £4.83 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 key strengths, while strategic share buy-backs enhance shareholder value. The high P/E ratio suggests an expensive valuation, but is justified by the company’s solid fundamentals and growth prospects. These factors combine to 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 focusing on property listings and related services. It is a leading online real estate portal in the UK, providing a platform for property buyers, sellers, and renters to connect.
Average Trading Volume: 2,239,815
Technical Sentiment Signal: Buy
Current Market Cap: £5.58B
For a thorough assessment of RMV stock, go to TipRanks’ Stock Analysis page.