Rightmove (LON:RMV) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Rightmove plc (LON:RMV)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Analyst Ratings Changes

Several brokerages have weighed in on RMV. JPMorgan Chase & Co. dropped their price objective on Rightmove from GBX 489 to GBX 404 and set an “underweight” rating for the company in a report on Tuesday, June 16th. Citigroup reduced their target price on shares of Rightmove from GBX 520 to GBX 455 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Finally, UBS Group reiterated a “neutral” rating and set a GBX 481 price target on shares of Rightmove in a research report on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Rightmove presently has an average rating of “Hold” and an average target price of GBX 633.12.

Rightmove Stock Performance

The company has a current ratio of 1.89, a quick ratio of 2.55 and a debt-to-equity ratio of 8.73. The company has a market cap of £3.35 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 2.58 and a beta of 0.90. The stock has a 50 day moving average price of GBX 430.99 and a two-hundred day moving average price of GBX 448.97.

Insider Transactions at Rightmove

In related news, insider Lorna Tilbian bought 3,600 shares of Rightmove stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of GBX 403 per share, for a total transaction of £14,508. Also, insider Amanda James bought 6,016 shares of Rightmove stock in a transaction on Thursday, May 21st. The shares were bought at an average price of GBX 413 per share, for a total transaction of £24,846.08. Corporate 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.