Rightmove plc (OTCMKTS:RTMVY) Short Interest Update

Rightmove plc (OTCMKTS:RTMVYGet Rating) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 11,500 shares, a drop of 33.9% from the March 15th total of 17,400 shares. Based on an average trading volume of 88,500 shares, the days-to-cover ratio is currently 0.1 days.

A number of brokerages recently issued reports on RTMVY. Royal Bank of Canada raised Rightmove from an “underperform” rating to a “sector perform” rating in a research report on Thursday, March 24th. Morgan Stanley upgraded Rightmove from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, March 1st. Bank of America upgraded Rightmove from an “underperform” rating to a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. lowered Rightmove from a “neutral” rating to an “underweight” rating in a research report on Wednesday, February 9th. Finally, Berenberg Bank boosted their target price on Rightmove from GBX 710 ($9.25) to GBX 740 ($9.64) in a report on Tuesday, March 1st. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $695.00.

RTMVY traded down $0.25 on Monday, reaching $16.56. The company’s stock had a trading volume of 42,600 shares, compared to its average volume of 76,872. The business’s 50 day moving average is $17.00 and its 200 day moving average is $18.56. Rightmove has a 1 year low of $15.84 and a 1 year high of $22.09.

About Rightmove (Get Rating)

Rightmove plc, together with its subsidiaries, operates property portals in the United Kingdom and internationally. It operates through Agency, New Homes, and Other segments. The Agency segment provides property resale and letting advertising services on its platforms. It also offers tenant references and rent guarantee insurance services to landlords.

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