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Rightmove ( (GB:RMV) ) has provided an update.
Rightmove plc announced the purchase of 95,000 of its ordinary shares as part of its ongoing share buy-back program, with the shares being bought at an average price of 670.639p each. This transaction, executed through UBS AG London Branch, represents 0.0123% of the voting rights of the total ordinary shares and continues a long-term strategy initiated in 2007, which has seen the company buy back over 538 million shares to date. The purchased shares will be cancelled, impacting the total number of shares in issue and potentially affecting shareholder value.
The most recent analyst rating on (GB:RMV) stock is a Buy with a £8.70 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 online property listings and related services. The company focuses on providing a comprehensive platform for property buyers, sellers, and real estate professionals in the UK market.
Average Trading Volume: 2,052,043
Technical Sentiment Signal: Buy
Current Market Cap: £5.18B
For an in-depth examination of RMV stock, go to TipRanks’ Overview page.