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An announcement from Rightmove ( (GB:RMV) ) is now available.
Rightmove plc has executed a share buy-back program, purchasing 120,000 of its ordinary shares at an average price of 771.009p per share. This transaction represents 0.0155% of the voting rights of the total ordinary shares in issue before the purchase, and the shares will be canceled. The move is part of an ongoing buy-back initiative that began in 2007, reflecting the company’s strategy to manage its share capital and potentially enhance shareholder value.
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 impact of its share buy-back program are key strengths, supporting a solid stock score. However, the high P/E ratio suggests potential overvaluation, and technical indicators warn of a possible short-term pullback. The stock’s overall score reflects these mixed signals, highlighting both the company’s robust fundamentals and valuation concerns.
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 real estate services. The company is known for its online platform that connects potential buyers and renters with property sellers and landlords.
Average Trading Volume: 2,303,443
Technical Sentiment Signal: Buy
Current Market Cap: £5.96B
Learn more about RMV stock on TipRanks’ Stock Analysis page.