Rightmove Executes Share Buy-Back to Optimize Capital Structure

Rightmove ( (GB:RMV) ) has shared an announcement.

Rightmove plc has executed a share buy-back program, purchasing 120,000 of its ordinary shares at an average price of 780.602p per share. This transaction represents 0.0155% of the voting rights of the total ordinary shares prior to the purchase, and the acquired shares will be cancelled, reducing the total number of shares in issue. This move is part of a long-term buy-back strategy initiated in 2007, which has seen the company repurchase over 532 million shares, potentially enhancing shareholder value and optimizing capital structure.

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 health and positive corporate actions, such as share buy-backs, are significant positive factors. However, the stock’s high valuation and technical indicators suggesting caution due to potential overvaluation temper the overall score.

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 property portal that offers property listings and related services to buyers, sellers, and renters in the UK market.

Average Trading Volume: 2,262,879

Technical Sentiment Signal: Buy

Current Market Cap: £5.97B

For a thorough assessment of RMV stock, go to TipRanks’ Stock Analysis page.