Scout24 (OTCMKTS:SCOTF) Board of Directors Initiates Stock Buyback Program

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

Analyst Ratings Changes

A number of brokerages recently commented on SCOTF. Citigroup reaffirmed a “buy” rating on shares of Scout24 in a research report on Monday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Scout24 in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Scout24 Price Performance

SCOTF stock opened at $115.36 on Friday. The firm has a 50 day moving average of $120.92 and a two-hundred day moving average of $107.45. Scout24 has a 12 month low of $115.36 and a 12 month high of $141.53.

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.