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Rightmove ( (GB:RMV) ) has shared an announcement.
Rightmove plc has executed a share buy-back transaction, purchasing 89,319 of its ordinary shares at an average price of 782.680p per share. This move is part of an ongoing buy-back program initiated in 2007, which has seen the company repurchase over 533 million shares in total. The recent transaction represents a small fraction of the company’s total voting rights and is expected to 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 is the most significant factor, supported by robust margins and cash flow. The technical analysis confirms a positive trend, albeit with some caution due to high valuation. The share buy-back program adds value but is tempered by negative analyst sentiment.
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 related services. It focuses on connecting buyers, sellers, and real estate agents, facilitating property transactions across the UK.
Average Trading Volume: 2,351,362
Technical Sentiment Signal: Buy
Current Market Cap: £5.95B
For detailed information about RMV stock, go to TipRanks’ Stock Analysis page.