Auto Trader Executes Share Buyback to Optimize Capital Structure

Auto Trader ( (GB:AUTO) ) just unveiled an announcement.

Auto Trader Group plc announced the repurchase of 284,659 of its ordinary shares for cancellation at an average price of 773.3416 pence per share, as part of its ongoing share buyback program. This transaction, executed through Merrill Lynch International, reflects the company’s strategy to manage its capital structure and potentially enhance shareholder value by reducing the number of shares in circulation, thereby increasing the ownership stake of remaining shareholders.

The most recent analyst rating on (GB:AUTO) stock is a Buy with a £880.00 price target. To see the full list of analyst forecasts on Auto Trader stock, see the GB:AUTO Stock Forecast page.

Spark’s Take on GB:AUTO Stock

According to Spark, TipRanks’ AI Analyst, GB:AUTO is a Outperform.

Auto Trader’s overall stock score is driven by its strong financial performance and positive earnings call, highlighting growth and market leadership. However, mixed technical indicators and a high P/E ratio suggest caution. The absence of significant corporate events further consolidates the focus on core financial and operational metrics.

To see Spark’s full report on GB:AUTO stock, click here.

More about Auto Trader

Auto Trader Group plc operates in the automotive industry, primarily focusing on the buying and selling of vehicles through its online marketplace. The company provides a platform for consumers and dealers to trade new and used cars, positioning itself as a leader in the digital automotive retail sector.

Average Trading Volume: 1,953,277

Technical Sentiment Signal: Hold

Current Market Cap: £6.62B

For an in-depth examination of AUTO stock, go to TipRanks’ Overview page.