Rightmove ( (GB:RMV) ) just unveiled an announcement.
Rightmove plc has announced a purchase of 153,155 of its ordinary shares as part of its ongoing share buy-back program, with the shares being acquired at an average price of 702.283p each. This transaction represents 0.0196% of the company’s voting rights and continues a long-standing buy-back initiative that has seen the company repurchase over 528 million shares since 2007, potentially impacting shareholder value and market perception.
Spark’s Take on GB:RMV Stock
According to Spark, TipRanks’ AI Analyst, GB:RMV is a Outperform.
Rightmove’s strong financial performance and positive technical indicators drive a favorable overall stock score. While the valuation appears high, it is supported by solid fundamentals. The stock is further bolstered by strategic corporate actions like share buy-backs, enhancing confidence in future growth prospects.
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 online property listings and real estate services. The company focuses on providing a platform for property buyers, sellers, and renters to connect with real estate agents and property developers.
YTD Price Performance: 3.96%
Average Trading Volume: 2,013,240
Technical Sentiment Signal: Strong Sell
Current Market Cap: £5.18B
See more insights into RMV stock on TipRanks’ Stock Analysis page.