Rightmove Executes Share Buy-Back to Enhance Shareholder Value

Rightmove ( (GB:RMV) ) has provided an update.

Rightmove plc has executed a share buy-back program, purchasing 100,000 of its ordinary shares at an average price of 771.015p per share. This transaction represents 0.0129% of the voting rights of the total ordinary shares prior to purchase, with the acquired shares set to be cancelled. This move is part of Rightmove’s ongoing strategy, having repurchased over 533 million shares since 2007, which could potentially enhance shareholder value by reducing the number of shares in circulation.

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 providing an online property portal for buying, selling, and renting properties in the UK. The company is a significant player in the digital property marketplace, offering a platform for real estate agents, developers, and homeowners to list properties.

Average Trading Volume: 2,318,144

Technical Sentiment Signal: Buy

Current Market Cap: £5.96B

Find detailed analytics on RMV stock on TipRanks’ Stock Analysis page.