Home » News » Found its happy? Rightmove share price edges towards historic £50 high previous nextProducts & ServicesFound its happy? Rightmove share price edges towards historic £50 highFavourable analyst reports and juicy profits last year have helped push up portal’s stock value dramatically over the past three months.Nigel Lewis1st June 201801,214 Views Rightmove shares are about to break the £50 barrier for the first time as the portal’s popularity with investors has seen its stock enjoy a three-month money-making run.This will be an historic high for the company’s shares, which were launched in 2006 at £3.35p each, valuing the company at £425 million.This means anyone who bought shares worth £100,000 then could now cash them in for £1.25 million.Also, Rightmove’s share price has increased by 19% since early March from £41.8p a share to £49.70p today.This values the company at £4.45 billion, or almost exactly twice that of Zoopla, even at ZPG recently inflated takeover stock value, and a staggering 27 times Rightmove’s forward earnings forecast.The huge and ongoing increases in Rightmove’s share price have been attributed by experts to several City investment analyst reports including those from Peel Hunt, JP Morgan and Liberum Capital.Rightmove’s growthRightmove has also been delivering what the City likes – growth. Its annual report for 2017 published in March revealed yet another year when turnover, profits and shareholder dividend increased year-on-year. During 2017 it increased its monthly revenue from agents by 10% to £922.Rightmove has also been helped by Zoopla’s recent lock-stock purchase by US private equity firm Silver Lake, which put a similar move by Rightmove in the spotlight.Following the flotation during the heady days before competition in the form of Zoopla or OnTheMarket, Rightmove’s agent shareholders were Countrywide with 22.5% and both Connells and Halifax Estate Agency Services with 21.7% each.peel hunt# jp morgan liberum capital rightmove share price June 1, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021
Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A Freeport man was sentenced Tuesday to 20 years to life in prison for killing his 22-year-old wife and then lighting a fire in the family’s home in an attempt to cover up the crime three years ago.Loventino Cassadean had pleaded guilty last year at Nassau County court to second-degree murder.“This case should serve as a reminder that we must be vigilant in our efforts to end domestic violence and punish the abusers,” Acting Nassau County District Attorney Madeline Singas said.Prosecutors said that the 52-year-old man repeatedly stabbed his wife, Felicia Cassadean, with a knife in a residence on Craig Avenue on Sept. 3, 2012. He then lit a fire in the residence.Freeport Department and the firefighters responded, extinguished the flames and found the victim’s body inside. The victim’s two children were visiting her mother in Guyana at the time.Nassau County police arrested Cassadean shortly after the victim’s body was found.