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SSP Group plc ( (GB:SSPG) ) has issued an announcement.
SSP Group plc, a company involved in a share repurchase program, has recently executed a transaction to buy back 230,000 of its ordinary shares from Barclays Bank plc as part of its £100 million share repurchase initiative. This transaction, conducted on the London Stock Exchange, is part of a broader strategy to reduce the number of shares in circulation, potentially increasing the value of remaining shares and enhancing shareholder value. Following this purchase, SSP Group now has 795,715,868 ordinary shares in issue, with no shares held in treasury, which reflects the company’s commitment to optimizing its capital structure.
The most recent analyst rating on (GB:SSPG) stock is a Hold with a £172.00 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: 1,840,136
Technical Sentiment Signal: Strong Sell
Current Market Cap: £1.2B
For detailed information about SSPG stock, go to TipRanks’ Stock Analysis page.