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An update from Rightmove ( (GB:RMV) ) is now available.
Rightmove plc announced the purchase of 200,000 of its own ordinary shares as part of its ongoing share buy-back program. This transaction, executed through UBS AG London Branch, represents 0.0261% of the voting rights of the total ordinary shares prior to purchase. The shares will be canceled, reducing the total number of ordinary shares in issue to 765,218,110, excluding treasury shares. This move is part of a long-term strategy since 2007, where Rightmove has repurchased over 543 million shares, potentially enhancing shareholder value and optimizing capital structure.
The most recent analyst rating on (GB:RMV) stock is a Buy with a £631.00 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 strong financial performance and positive earnings call sentiment are offset by bearish technical indicators and moderate valuation metrics. The ongoing share buyback program supports shareholder value, but market momentum remains a concern.
To see Spark’s full report on GB:RMV stock, click here.
More about Rightmove
Rightmove plc operates within the real estate industry, primarily focusing on providing an online property portal for buying, selling, and renting properties. The company is a key player in the UK market, offering a platform that connects real estate agents, landlords, and potential buyers or renters.
Average Trading Volume: 3,873,919
Technical Sentiment Signal: Sell
Current Market Cap: £4.12B
For detailed information about RMV stock, go to TipRanks’ Stock Analysis page.