Rightmove (LON:RMV) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Rightmove plc (LON:RMV)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 452.34 and traded as low as GBX 450.60. Rightmove shares last traded at GBX 457.72, with a volume of 2,850,931 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. UBS Group restated a “neutral” rating and set a GBX 481 target price on shares of Rightmove in a research report on Tuesday, May 5th. Citigroup reduced their price target on Rightmove from GBX 520 to GBX 455 and set a “neutral” rating for the company in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. lowered their price target on Rightmove from GBX 489 to GBX 404 and set an “underweight” rating on the stock in a research report on Tuesday, June 16th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Rightmove has an average rating of “Hold” and a consensus target price of GBX 633.12.

Rightmove Trading Down 1.1%

The company has a debt-to-equity ratio of 8.73, a current ratio of 1.89 and a quick ratio of 2.55. The firm has a market capitalization of £3.36 billion, a PE ratio of 16.07, a P/E/G ratio of 2.58 and a beta of 0.90. The company’s fifty day simple moving average is GBX 430.50 and its 200-day simple moving average is GBX 452.34.

Insider Transactions at Rightmove

In other news, insider Lorna Tilbian acquired 3,600 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of GBX 403 per share, for a total transaction of £14,508. Also, insider Amanda James acquired 6,016 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average price of GBX 413 per share, with a total value of £24,846.08. Company insiders own 0.37% of the company’s stock.

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. The segment also offers tenant references and rent guarantee insurance services to landlords. The New Homes segment provides property advertising services to new home developers and housing associations on its platforms.