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The latest update is out from Rightmove ( (GB:RMV) ).
Rightmove plc has executed a share buy-back program, purchasing 100,000 of its ordinary shares at an average price of 739.809p per share. This transaction, conducted through UBS AG London Branch, represents 0.0129% of the voting rights of the total ordinary shares prior to the purchase. The acquired shares will be canceled, reducing the total number of shares in issue to 772,905,835, excluding treasury shares. This move is part of Rightmove’s ongoing strategy to manage its capital structure and enhance shareholder value.
The most recent analyst rating on (GB:RMV) stock is a Hold with a £824.00 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, showcasing robust profitability and financial stability. However, technical analysis indicates potential bearish trends, and the valuation suggests the stock may be overvalued. These factors collectively moderate the overall stock score.
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 that connects buyers, sellers, landlords, and tenants with estate agents and developers. The company focuses on the UK market, providing a platform for property listings and related services.
Average Trading Volume: 1,802,126
Technical Sentiment Signal: Buy
Current Market Cap: £5.71B
See more insights into RMV stock on TipRanks’ Stock Analysis page.