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Rightmove Continues Share Buy-Back Strategy

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Rightmove Continues Share Buy-Back Strategy

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The latest announcement is out from Rightmove ( (GB:RMV) ).

Rightmove plc has announced the purchase of 115,000 of its own ordinary shares at an average price of 724.750p per share as part of its ongoing share buy-back program. This transaction represents a small fraction of the company’s voting rights and is part of a long-term strategy that has seen the company repurchase over 535 million shares since 2007, potentially impacting shareholder value and market perception.

The most recent analyst rating on (GB:RMV) stock is a Hold with a £8.15 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 Neutral.

Rightmove’s strong financial performance is the most significant factor, showcasing robust profitability and financial stability. However, technical analysis indicates potential bearish trends, and the valuation suggests the stock may be overvalued. These factors collectively moderate the overall stock 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 an online property portal where users can search for properties for sale and rent across the UK. The company focuses on providing a comprehensive platform for real estate listings, making it a key player in the UK property market.

Average Trading Volume: 1,817,040

Technical Sentiment Signal: Buy

Current Market Cap: £5.57B

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

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