US activist investment firm Sachem Head has acquired a 6% stake in Rightmove, worth hundreds of millions of pounds, according to reports from The Sunday Times, prompting speculation about the property portal’s future ownership.
The investment comes as Rightmove’s share price remains significantly below its 2025 peak, having fallen from £8.18 per share in summer 2025 to a low of £4.10 in May this year. Shares currently trade at approximately £5.00, representing a 39% decline from their high point.
Share price volatility
The decline followed market concerns about artificial intelligence-enabled search engines, particularly ChatGPT, potentially disrupting Rightmove’s dominance in the online property search market. The company’s November trading results failed to reassure investors, accelerating the share price decline through the first half of this year.
Market sources suggest Sachem Head believes the AI-prompted sell-off was excessive and that the shares are now undervalued. The hedge fund has reportedly been encouraging Rightmove to take on debt to fund share buybacks, a strategy that could support the share price.
Takeover speculation
This marks the second time in recent months that Rightmove has attracted activist investor attention. The 6% stake provides Sachem Head with a significant position from which to influence company strategy or potentially launch a takeover bid.
The investment comes at a time when wealthy buyers are increasingly leveraging debt in property markets, though Rightmove’s business model as a property listing platform remains distinct from direct property investment.
Industry observers note that the short-term threat from AI to Rightmove’s business has not materialised as feared, potentially validating Sachem Head’s thesis that the market overreacted to the technological disruption narrative.
Rightmove has not yet responded to requests for comment on the stake acquisition or the speculation surrounding potential corporate action. The company’s performance will be closely watched by property industry professionals who rely on the platform for marketing listings and generating buyer enquiries.
