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SSP Group plc ( (GB:SSPG) ) has shared an update.
SSP Group plc, a company involved in the food and beverage industry, announced the purchase and cancellation of 230,000 ordinary shares as part of its £100 million share repurchase program. This transaction, conducted through Barclays Bank plc on the London Stock Exchange, reflects SSP Group’s ongoing efforts to manage its capital structure effectively. The total number of shares purchased under the program now stands at 9,062,319, reducing the company’s total shares in issue to 792,613,877. This strategic move is likely to impact the company’s market positioning by potentially increasing shareholder value and optimizing its financial operations.
The most recent analyst rating on (GB:SSPG) stock is a Hold with a £170.00 price target. To see the full list of analyst forecasts on SSP Group plc stock, see the GB:SSPG Stock Forecast page.
Spark’s Take on GB:SSPG Stock
According to Spark, TipRanks’ AI Analyst, GB:SSPG is a Neutral.
SSP Group plc’s strong financial performance, particularly in revenue growth and operational efficiency, is offset by high leverage and modest profitability. Technical indicators suggest a lack of strong momentum, and the valuation is unattractive due to negative earnings. The absence of earnings call data and corporate events limits additional insights.
To see Spark’s full report on GB:SSPG stock, click here.
More about SSP Group plc
Average Trading Volume: 2,004,318
Technical Sentiment Signal: Strong Sell
Current Market Cap: £1.17B
Learn more about SSPG stock on TipRanks’ Stock Analysis page.