this is def one to pick up on weakness down to 6. its not reliant on a rising housing mkt and now that onthemarket has been sold it appears all the mkt players will be "working together" as opposed to competing. |
hxxps://propertyindustryeye.com/eye-newsflash-rightmove-revenues-up-7-forecasts-2025-growth-as-estate-agency-members-rise/ |
Inv h&s? target 800? |
News Int raised over $1b from selling assets in Australia yesterday. They say they want to focus on core stuff including media real estate.
Would not be surprised to see an improved offer in the new year. murdoch rarely gives up. |
hxxps://thenegotiator.co.uk/news/marketing-news/rightmove-to-attract-more-takeover-offers-analysts-claim/ |
Makes a change from falling in a rising market, nice to see the share buy backs up and running again. |
How come this is up today in a falling market ? |
How did it come to this? Something very wrong with the UK market |
Shorted at 625p New starts lowest in 15 years & market comatose where I live when a year ago was super activeRates way too high & need jumping down |
I thought the board said these were worth a lot more than the 775p offer from REA. I hope it doesn't take 5 years |
Rightmove will continue to charge more and more for licence fees, this annual turning of the ratchet will be its undoing, Saas may well be a great way to print money if you are the Apex predator, but if your clients do not like you, well one day they will turn their backs and jump onboard the next big thing. Newspaper advertising gave way to digital advertising, so Rightmove, Autotrader etc, but when the next medium for advertising comes - giving that the present generation are on multiple channels every hour, it will be far harder to keep those eyes coming to a property platform. 'Friends Reunited' is a classic example, it went from Hero to Zero pretty quickly as new players came to town. |
Way too early for that. Lol |
Suspect value investors will start piling now due to the fall back today |
Not confirmed by RBS yet, unless I've missed it |
Offer withdrawn (bberg) |
*REA GROUP IS SAID PREPARING TO DROP PURSUIT OF RIGHTMOVE
(bloomberg headline) |
It is worth a fortune.
No one has metrics like these:-
ROCE: 333
operating margin 70%
Grown free cash flow every year apart from the pandemic year.
Bought back nearly 30% of its own stock.
Has a virtual monopoly of housing search eyeballs (85% of all housing online searches)
dividend increase by 1500% since 2006
No debt.
No expensive moving parts
just a few computers and some very clever people
It is a cash machine that has been neglected for the last 4 years for unfathomable reasons
If there was one stock I would like to own outright in the UK, it is RMV.
No, Rupert it is not enough. I want the bid to go away. At £10 it would still be a bargain.
If the bid goes through Rupert gets the golden goose and UK investors get a few pieces of silver.
trades on a PE multiple that is a fraction of the PE of the purchaser (REA pe 93!) |
25 percent gain here if £8 is tabled to get this over the line..... |
 Rightmove is like the Salvator Mundi, a glittering prize that sold for a little over $1,000 in 2005, and then for $75m in 2013, and again for $127.5m, which is perhaps where we are with Rightmove's change in value. Rea's hope is that like Salvator Mundi, Rightmove might have another leap of value (the Salvator Mundi selling for $450m in 2017)if the multi-million visitors to the Rightmove site can be converted into higher profit, by opening up extra income streams - apart from the 70% Saas nodel. I note that Rightmove is actually advertising at least one online gambling site Mega Dice casino a company owned by MIBS N.V registered in Curaçao where many online gaming companies are set up (it would be interesting to know who actually owns them - the opaque structures that shroud true ownership being hard to penetrate!) The key point is, property portals do not seem to create 'more' sales for estate agents and developers, they are a handy digital advertising space, but as 1.2 million properties complete in the UK annually over the last decade, Rightmove is definitely not increasing the sales margin, in fact in 1988, 12 years before Rightmove was born in 2000, there were 2 million property completions in the UK. So actually maybe for agents anyway propery portals are the ultimate 'emporers clothes' indeed if you add the amount of people going online to Rightmove, Zoopla & OnTheMarket each month, it is a figure extreme North of a hundred million pairs of eyes, but only 100,000 properties exchange, so a clear imbalance, I wonder what the Autotrader metrics are like, as in the amount of inventory listed to the amount sold and the amount of traffic to the site. |
I’m sure the RMV board will grant an extension, expect an rns on Monday confirming such. |
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