Rightmove (LON:RMV) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

Rightmove plc (LON:RMV)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 448.97 and traded as low as GBX 436.10. Rightmove shares last traded at GBX 449.30, with a volume of 3,349,599 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RMV shares. JPMorgan Chase & Co. decreased 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. Citigroup cut their price objective on Rightmove from GBX 520 to GBX 455 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Finally, UBS Group reissued a “neutral” rating and issued a GBX 481 price objective on shares of Rightmove in a research note on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Rightmove currently has an average rating of “Hold” and an average target price of GBX 633.12.

Rightmove Stock Up 2.0%

The company has a debt-to-equity ratio of 8.73, a quick ratio of 2.55 and a current ratio of 1.89. The stock has a market cap of £3.35 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 2.58 and a beta of 0.90. The firm’s 50-day simple moving average is GBX 430.99 and its two-hundred day simple moving average is GBX 448.97.

Insider Activity at Rightmove

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

Rightmove Company Profile

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.