Rightmove Extends Long-Running Buyback With Fresh Share Repurchase

The latest announcement is out from Rightmove ( (GB:RMV) ).

Rightmove plc has continued to execute its long-running capital return strategy by repurchasing 240,000 ordinary shares at a volume-weighted average price of 434.855p, with the shares representing 0.0318% of the company’s prior voting rights. The repurchased stock will be cancelled, reducing the number of ordinary shares in issue to 754,526,183 (excluding treasury shares) and leaving 10,635,168 shares held in treasury.

The transaction, carried out through UBS AG’s London branch, forms part of a buyback programme initiated in December 2007, under which Rightmove has now cumulatively repurchased 553,892,729 shares. The ongoing reduction of the free float and consolidation of equity underscores management’s commitment to returning surplus capital to shareholders and supports earnings per share by shrinking the share base over time.

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 operates in the online real estate listings and property advertising industry, providing a digital marketplace where estate agents, lettings agents, and developers advertise residential properties to U.K. homebuyers and renters. The company generates revenue primarily from listing fees and advertising products sold to property professionals seeking exposure to its large consumer audience.

Average Trading Volume: 4,668,932

Technical Sentiment Signal: Sell

Current Market Cap: £3.29B

Learn more about RMV stock on TipRanks’ Stock Analysis page.