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Rightmove ( (GB:RMV) ) has provided an announcement.
Rightmove plc has executed a share buy-back program, purchasing 50,000 of its ordinary shares at an average price of 782.280p per share. This transaction, facilitated by UBS AG London Branch, represents 0.0065% of the voting rights of the company’s total ordinary shares. The purchased shares will be cancelled, contributing to the aggregate total of 534,130,287 shares bought back since the program’s inception in 2007. This move is part of Rightmove’s ongoing strategy to manage its capital structure and return value to shareholders.
The most recent analyst rating on (GB:RMV) stock is a Sell with a £590.00 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 Neutral.
Rightmove’s strong financial performance is the most significant factor, supported by robust profit margins and cash flow. Technical analysis shows moderate bullish momentum, while valuation metrics indicate the stock may be overvalued. The share buy-back program is a positive corporate event, but 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, providing an online platform for property listings and real estate services. The company focuses on connecting buyers and sellers, offering a comprehensive range of property-related services.
Average Trading Volume: 1,804,851
Technical Sentiment Signal: Buy
Current Market Cap: £6.04B
For an in-depth examination of RMV stock, go to TipRanks’ Overview page.