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Rightmove ( (GB:RMV) ) just unveiled an update.
Rightmove plc has continued its longstanding capital-return strategy by repurchasing 260,000 of its 0.1p ordinary shares at a volume-weighted average price of 436.758p, with the shares acquired through UBS AG London Branch. The transaction, representing 0.0344% of existing voting rights, will see the shares cancelled, reducing the number of ordinary shares in issue to 756,016,183, excluding 10,635,168 treasury shares, and bringing total buy-backs since 2007 to more than 552 million shares.
The latest tranche of buy-backs underlines Rightmove’s ongoing use of excess cash to shrink its equity base and support earnings per share, which can be seen as shareholder-friendly in the absence of material acquisition spending. For investors, the continued reduction in free float further concentrates ownership and may bolster valuation metrics over time, while signalling management’s confidence in the company’s long-term cash generation and market position in the U.K. property portal sector.
The most recent analyst rating on (GB:RMV) stock is a Hold with a £455.00 price target. To see the full list of analyst forecasts on Rightmove stock, see the GB:RMV Stock Forecast page.
Spark’s Take on RMV Stock
According to Spark, TipRanks’ AI Analyst, RMV is a Outperform.
The score is driven primarily by outstanding financial performance (high margins, strong free cash flow, low leverage) and a supportive earnings outlook with continued capital returns. These positives are tempered by weak technical trends (below key longer-term moving averages with negative MACD) and only moderate valuation support (P/E ~15.9, ~2.27% yield).
To see Spark’s full report on RMV stock, click here.
More about Rightmove
Rightmove plc is a U.K.-based online property portal that provides digital platforms and tools for advertising and searching residential and commercial real estate. The company generates revenue primarily from estate agents, lettings agents, and new home developers, offering listing, marketing, and data services focused on the U.K. housing market.
Average Trading Volume: 4,604,771
Technical Sentiment Signal: Sell
Current Market Cap: £3.26B
Learn more about RMV stock on TipRanks’ Stock Analysis page.