Scout24 (OTCMKTS:SCOTF) to Repurchase 0 Stock

Scout24 (OTCMKTS:SCOTF) announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 3rd, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Scout24 Stock Performance

Shares of OTCMKTS:SCOTF remained flat at $115.36 during trading on Wednesday. The business has a 50-day simple moving average of $121.36 and a 200-day simple moving average of $107.15. Scout24 has a one year low of $115.36 and a one year high of $141.53.

Analysts Set New Price Targets

SCOTF has been the subject of a number of recent research reports. Citigroup reissued a “buy” rating on shares of Scout24 in a research note on Monday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Scout24 in a research report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

About Scout24

Scout24 SE operates ImmoScout24, a digital platform for the residential and commercial real estate sectors in Germany and internationally. The company offers Realtor Lead Engine and Immoverkauf24 products for selling real estate; Mortgage Lead Engine, a mortgage financing product under the pay-per-lead model; mortgage and real estate financing advisory services; FLOWFACT and Propstack, which are CRM software solutions for real estate agents; and TenantPlus that provides rental properties.