Rightmove (LON:RMV) Shares Down 12.5% – Here’s What Happened

Shares of Rightmove plc (LON:RMV) traded down 12.5% during trading on Saturday . The stock traded as low as GBX 474.50 and last traded at GBX 573.69. 24,167,318 shares traded hands during trading, an increase of 367% from the average session volume of 5,171,865 shares. The stock had previously closed at GBX 655.40.

Analyst Ratings Changes

RMV has been the subject of a number of recent research reports. Peel Hunt reiterated a “buy” rating and set a GBX 885 price objective on shares of Rightmove in a research report on Friday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 815 price target on shares of Rightmove in a report on Monday, July 28th. Berenberg Bank boosted their target price on Rightmove from GBX 795 to GBX 850 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada boosted their target price on shares of Rightmove from GBX 750 to GBX 805 and gave the stock a “sector perform” rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Rightmove in a report on Friday, October 10th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of GBX 796.40.

Rightmove Trading Down 1.2%

The company’s 50 day moving average is GBX 697.98 and its 200 day moving average is GBX 744.39. The stock has a market capitalization of £4.35 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.58 and a beta of 1.05. The company has a debt-to-equity ratio of 10.15, a quick ratio of 2.55 and a current ratio of 1.83.

About Rightmove

Rightmove plc, together with its subsidiaries, operates online digital property advertising and information portals in the United Kingdom and internationally. The company operates through Agency, New Homes, and Other segments. The Agency segment provides property resale and letting advertising services on its platforms.