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Auto Trader ( (GB:AUTO) ) has issued an update.
Auto Trader Group plc announced a significant transaction involving the repurchase of 290,000 of its ordinary shares for cancellation, executed through Merrill Lynch International at an average price of 795.9093 pence per share. This buyback is part of the company’s ongoing strategy to manage its capital structure effectively, potentially enhancing shareholder value by reducing the number of shares in circulation and increasing the ownership percentage 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 offering a digital marketplace for buying and selling vehicles. The company focuses on connecting buyers and sellers through its online platform, facilitating transactions and providing related services.
Average Trading Volume: 2,001,864
Technical Sentiment Signal: Hold
Current Market Cap: £6.75B
See more insights into AUTO stock on TipRanks’ Stock Analysis page.