Rightmove ( (GB:RMV) ) just unveiled an announcement.
Rightmove plc has executed a share buy-back program, purchasing 52,659 of its ordinary shares at an average price of 703.392p per share. This transaction represents 0.0068% of the voting rights of the total ordinary shares and is part of an ongoing buy-back initiative that has seen the company acquire over 528 million shares since 2007. The purchased shares will be canceled, reducing the total number of shares in issue, which may positively impact the company’s stock value and shareholder returns.
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 providing an online property portal for buying, selling, and renting properties. The company focuses on the UK market, offering digital advertising services for real estate agents, landlords, and developers.
YTD Price Performance: 9.97%
Average Trading Volume: 2,037,325
Technical Sentiment Signal: Strong Sell
Current Market Cap: £5.18B
See more insights into RMV stock on TipRanks’ Stock Analysis page.