Rightmove Enhances Shareholder Value with Latest Share Buy-back

Rightmove ( (GB:RMV) ) just unveiled an update.

Rightmove plc announced the purchase of 120,000 of its ordinary shares as part of its ongoing share buy-back program. This transaction represents 0.0155% of the voting rights of the total ordinary shares in issue before the purchase. The acquired shares will be canceled, reducing the total number of shares in issue, which may positively impact shareholder value by increasing earnings per share.

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 has strong financial performance and ongoing corporate actions like share buy-backs to enhance shareholder value, supporting its stock score. However, a high P/E ratio and modest dividend yield slightly dampen its valuation appeal. Technicals show steady momentum, though recent analyst ratings suggest caution.

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 online property listing services. The company focuses on providing a platform for property sellers, buyers, and real estate professionals to connect and facilitate property transactions.

Average Trading Volume: 2,297,188

Technical Sentiment Signal: Buy

Current Market Cap: £5.84B

See more insights into RMV stock on TipRanks’ Stock Analysis page.