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Rightmove ( (GB:RMV) ) just unveiled an announcement.
Rightmove plc announced the purchase of 340,000 of its ordinary shares as part of its ongoing share buy-back program. This transaction, executed through UBS AG London Branch, represents 0.0442% of the voting rights of the total ordinary shares in issue before the purchase. The purchased shares will be cancelled, reducing the total number of shares in issue to 769,568,110, excluding treasury shares. This move is part of a long-standing strategy initiated in 2007, which has seen the company buy back over 538 million shares, potentially enhancing shareholder value and market positioning.
The most recent analyst rating on (GB:RMV) stock is a Buy with a £738.00 price target. To see the full list of analyst forecasts on Rightmove stock, see the GB:RMV Stock Forecast page.
Spark’s Take on GB:RMV Stock
According to Spark, TipRanks’ AI Analyst, GB:RMV is a Outperform.
Rightmove’s overall stock score is driven by strong financial performance and positive earnings call insights, highlighting robust growth and strategic advancements. However, technical analysis indicates bearish momentum, and valuation metrics suggest potential overvaluation, which temper the overall score.
To see Spark’s full report on GB:RMV stock, click here.
More about Rightmove
Rightmove plc operates in the real estate industry, primarily offering online property listings and related services. The company focuses on providing a platform for property buyers, sellers, and real estate professionals in the UK market.
Average Trading Volume: 2,324,915
Technical Sentiment Signal: Hold
Current Market Cap: £5.14B
See more insights into RMV stock on TipRanks’ Stock Analysis page.