Rightmove Executes Share Buy-Back as Part of Ongoing Program

The latest update is out from Rightmove ( (GB:RMV) ).

Rightmove plc has executed a share buy-back, purchasing 124,000 of its ordinary shares at an average price of 761.309p per share. This transaction is part of an ongoing buy-back program initiated in 2007, with the recent purchase representing 0.0160% of the voting rights of total shares. The shares acquired will be canceled, reducing the total number of shares in issue to 776,019,080, excluding treasury shares. This move is in line with Rightmove’s strategy to manage its capital structure and return value to shareholders, potentially impacting its stock liquidity 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 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 within the real estate industry, primarily offering an online property portal that connects potential buyers and renters with property listings. The company focuses on the UK market, providing a platform for real estate agents, landlords, and developers to advertise properties.

Average Trading Volume: 2,331,416

Technical Sentiment Signal: Buy

Current Market Cap: £5.84B

For an in-depth examination of RMV stock, go to TipRanks’ Stock Analysis page.