Foxtons ( (GB:FOXT) ) has shared an update.
Foxtons Group PLC announced the purchase of 500,000 of its own ordinary shares at a price of 57.5 pence per share as part of its share buyback and cancellation programme. This action will reduce the number of shares in circulation, potentially increasing the value of remaining shares and altering the total voting rights, which may impact shareholder calculations under regulatory guidelines.
Spark’s Take on GB:FOXT Stock
According to Spark, TipRanks’ AI Analyst, GB:FOXT is a Outperform.
Foxtons exhibits strong financial health and strategic corporate actions, such as share buybacks, contributing positively to its overall score. Despite technical analysis indicating short-term weakness, the company’s sound financials and reasonable valuation support a favorable long-term outlook.
To see Spark’s full report on GB:FOXT stock, click here.
More about Foxtons
Foxtons Group PLC operates in the real estate industry, primarily focusing on estate agency services. The company is known for its property sales and lettings services in the UK market.
YTD Price Performance: -14.60%
Average Trading Volume: 401,052
Technical Sentiment Signal: Sell
Current Market Cap: £174.5M
Learn more about FOXT stock on TipRanks’ Stock Analysis page.