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The latest update is out from Rightmove ( (GB:RMV) ).
Rightmove plc has executed a share buy-back program, purchasing 95,000 of its ordinary shares at an average price of 752.347p per share. This transaction represents 0.0122% of the company’s voting rights, and the purchased shares will be cancelled, reducing the total number of shares in issue. This move is part of an ongoing buy-back initiative that began in 2007, reflecting the company’s strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:RMV) stock is a Sell with a £4.83 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 effective corporate strategies, such as share buy-backs, provide a solid foundation for investor confidence. Despite a high valuation, the company’s robust fundamentals and growth prospects justify its premium pricing, making it an attractive investment in the 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 offering an online property portal for buying, selling, and renting properties. The company focuses on providing a platform for property listings and related services, catering to both consumers and real estate professionals in the UK market.
Average Trading Volume: 2,258,086
Technical Sentiment Signal: Buy
Current Market Cap: £5.72B
See more insights into RMV stock on TipRanks’ Stock Analysis page.