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An announcement from Rightmove ( (GB:RMV) ) is now available.
Rightmove plc announced the purchase of 300,000 of its own shares as part of its ongoing share buy-back program, with the shares purchased at an average price of 532.537p each. This transaction represents 0.0393% of the voting rights of the company’s total ordinary shares, and the acquired shares will be canceled, affecting the total number of shares in issue. This move is part of a long-term strategy initiated in 2007 to enhance shareholder value and optimize the company’s capital structure.
The most recent analyst rating on (GB:RMV) stock is a Buy with a £631.00 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 Outperform.
Rightmove’s strong financial performance and positive earnings call sentiment are offset by bearish technical indicators and moderate valuation metrics. The ongoing share buyback program supports shareholder value, but market momentum remains a concern.
To see Spark’s full report on GB:RMV stock, click here.
More about Rightmove
Rightmove plc operates in the real estate industry, providing an online property portal for buying, selling, and renting properties. The company focuses on offering digital solutions for property listings and related services, catering primarily to the UK market.
Average Trading Volume: 4,012,300
Technical Sentiment Signal: Sell
Current Market Cap: £4.05B
For a thorough assessment of RMV stock, go to TipRanks’ Stock Analysis page.