Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
An announcement from Rightmove ( (GB:RMV) ) is now available.
Rightmove plc has announced the purchase of 90,000 of its own ordinary shares as part of its ongoing share buy-back program. This transaction, executed through UBS AG London Branch, represents 0.0116% of the voting rights of the company’s total ordinary shares. The purchased shares will be canceled, reducing the total number of ordinary shares in issue to 776,984,608. This move is part of a long-standing buy-back strategy initiated in December 2007, which has seen the company repurchase over 531 million shares, potentially enhancing shareholder value and optimizing the company’s capital structure.
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 providing an online property portal for buying, selling, and renting properties in the UK. The company focuses on offering a comprehensive platform for property listings and related services to consumers and real estate professionals.
Average Trading Volume: 2,347,926
Technical Sentiment Signal: Buy
Current Market Cap: £5.89B
For a thorough assessment of RMV stock, go to TipRanks’ Stock Analysis page.