Month: May 2022

Goldman Sachs has just held its annual Emerging Leaders Conference, which saw a number of promising companies making presentations.

Among those attending were the three ASX shares listed below that Goldman believes would be great investment options right now.

Here’s what it is saying about these shares:

Hipages Group Holdings Ltd (ASX: HPG)

Goldman Sachs is a big fan of this tradie platform provider. It is very positive on the ecosystem that the company is building and is tipping Hipages to win a significant market share in the future.

It said:

HPG is the leading trade services marketplace in Australia, connecting tradies with consumers for a range of home improvement jobs. The business is building out an ecosystem of adjacent services which will allow it to capture a greater share of tradie wallet, improve tradie retention and attract new tradies to the platform.

The broker currently has a buy rating and $2.50 price target on Hipages shares.

Lifestyle Communities Limited (ASX: LIC)

Another ASX share that Goldman is very positive on is Lifestyle Communities. The broker believes the retirement communities company is well-placed for growth thanks to a combination of Australia’s ageing population and structural growth in the land lease model.

It explained:

The long-term outlook for Lifestyle Communities is very positive, in our view, with outperformance of the stock to be driven by: (1) a step up in the pace of land acquisitions, with industry build rates below demand from an ageing population; (2) structural growth in demand for land lease as the sector increases its penetration among retirees; (3) fundamental valuation support for cap rates.

Goldman Sachs has a conviction buy rating and $24.50 price target on the company’s shares.

Readytech Holdings Ltd (ASX: RDY)

A final emerging ASX share that the broker thinks is a buy is Readytech. It is a growing provider of enterprise software to a number of markets.

The broker said:

RDY owns a portfolio of enterprise software businesses across several defensive market verticals including higher education, HR/payroll, work pathways and local government. RDY’s competitive position is underpinned by its focus on market niches that are under-served by both large and small enterprise software competitors.

Goldman has a buy rating and $5.00 price target on Readytech’s shares.

The post Broker names 3 emerging ASX shares to buy now appeared first on The Motley Fool Australia.

More reading

• 3 ASX All Ordinaries shares having a stellar run on Wednesday
• Why CSL, Dicker Data, Lifestyle Communities, and Money3 shares are rising today
• ASX 200 midday update: Magellan names its new CEO, Link shares crash
• 2 highly rated small cap ASX shares that analysts say have huge potential
• Analysts name 3 small cap ASX shares to buy

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hipages Group Holdings Ltd. and Readytech Holdings Ltd. The Motley Fool Australia has positions in and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Readytech Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Today, the S&P/ASX 200 Index (ASX: XJO) snapped out of its three-day losing streak by finding momentum throughout the afternoon. At the end of the session, the benchmark index finished 0.19% higher at 7,065.7 points.

On a bumpy day of trading, investors fought back against fierce selling pressure in the early hours of the session. In the end, the bulls beat out the bears on Wednesday with most sectors finishing in better shape than they were yesterday.

Zooming in, it was the healthcare sector that led the pack. Meanwhile, banks and tech shares were lumped into the losers of the day.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Summerset Group Holdings Ltd (ASX: SNZ) was the biggest gainer today. Shares in the New Zealand retirement village operator gained 5.86% despite there being no news or announcements. Find out more about Summerset Group Holdings here.

The next best performing ASX share across the market today was John Lyng Group Ltd (ASX: JLG). The integrated building services company enjoyed a 5.34% rally in its share price. Investors were buying up shares in the company in absence of any material information. Uncover the latest John Lyng Group details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Summerset Group Holdings Ltd (ASX: SNZ)	$10.12	5.86%
Johns Lyng Group Ltd (ASX: JLG)	$7.30	5.34%
The a2 Milk Company Ltd (ASX: A2M)	$4.16	4.52%
NextDC Ltd (ASX: NXT)	$10.20	3.98%
Lynas Rare Earths Ltd (ASX: LYC)	$8.70	3.94%
Pilbara Minerals Ltd (ASX: PLS)	$2.62	3.56%
GQG Partners Inc (ASX: GQG)	$1.47	3.52%
Zimplats Holdings Ltd (ASX: ZIM)	$29.98	3.42%
Nine Entertainment Co Holdings Ltd (ASX: NEC)	$2.46	3.36%
TPG Telecom Ltd (ASX: TPG)	$5.97	3.29%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why is the Fortescue share price rebounding today?
• Do Coles shares offer a dividend reinvestment plan?
• ASX 200 midday update: Magellan names its new CEO, Link shares crash
• Is the Telstra share price a safe haven buy right now?

Motley Fool contributor Mitchell Lawler has positions in Lynas Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Johns Lyng Group Limited. The Motley Fool Australia has recommended A2 Milk, Johns Lyng Group Limited, and TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The South32 Ltd (ASX: S32) share price continued its slide on Wednesday.

The mining giant’s shares ended the day over 1% lower at $4.41.

This means the South32 share price is now down 19% from the record-high of $5.44 it reached in March.

Is the South32 share price good value now?

While the recent pullback in the South32 share price is disappointing for shareholders, it could be a buying opportunity for non-shareholders.

In fact, the team at Morgans recently rated the company as one of its “best ideas” on the Australian share market.

According to the note, the broker has an add rating and $6.10 price target on the company’s shares.

Based on the current South32 share price, this implies potential upside of 38% for investors over the next 12 months.

In addition, the broker expects big dividends from the mining giant. It has forecast fully franked dividends per share of 25.8 cents in FY 2022 and 35.3 cents in FY 2023. This represents yields of 5.8% and 8%, respectively, over the next couple of years.

What did the broker say?

Morgans is a fan of the company due to its diverse production and exposure to ESG-friendly commodities.

It explained:

S32 has transformed its portfolio divesting South African thermal coal and acquiring an interest in Chile copper, substantially boosting group earnings quality, as well as S32’s risk and ESG profile.

Unlike its peers amongst ASX-listed large-cap miners, S32 is not exposed to iron ore. Instead offering a highly diversified portfolio of base metals and metallurgical coal (with most of these metals enjoying solid price strength).

We see attractive long-term value potential in S32 from de-risking of its growth portfolio, the potential for further portfolio changes, and an earnings-linked dividend policy.

The post Broker says South32 share price is great value and one of the ‘best’ options for investors appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Macquarie picks ASX 200 shares to buy in this volatile environment
• Which ASX 200 mining shares were the worst-performing on Friday?
• Own South32 shares? Here’s why the miner’s latest coal plans have been called ‘highly disturbing’

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Vanguard Australian Shares Index ETF (ASX: VAS) is ASX investors’ most popular choice when it comes to an index exchange-traded fund (ETF). And by a mile too. VAS tracks the S&P/ASX 300 Index (ASX: XKO) which means that it holds a portfolio of around 300 of the ASX’s largest companies.

Thus, investors get a comprehensive exposure to the Australian share market, with the most exposure to blue-chip shares like Commonwealth Bank of Australia (ASX: CBA), CSL Limited (ASX: CSL), and Telstra Corporation Ltd (ASX: TLS).

But, in recent years, VAS’s slow-but-steady performance has been outstripped by the US-based NASDAQ-100 (INDEXNASDAQ: NDX). The Nasdaq is the US exchange that typically houses US tech companies. Think names like Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT) and Tesla Inc (NASDAQ: TSLA).

The breakneck rises of these companies over the past few years have led to some fairly epic returns from the Nasdaq 100 Index, and ETFs that track it. On the ASX, that would be the BetaShares Nasdaq 100 ETF (ASX: NDQ).

But the past few months have given investors a bit of a shakeup. Many US tech shares have suffered some serious falls in value. Some, such as Tesla, have seen falls of more than 30% (or even greater) over 2022 thus far.

So, as it stands today, would VAS have been a better investment than a Nasdaq ETF like NDQ?

Well, let’s check out the data.

VAS vs. NDQ: Which ASX ETF comes out on top?

So, as of the end of April, the Vanguard Australian Shares ETF had returned 10.23% over the preceding 12 months, including dividend returns. That looks pretty good against the BetaShares Nasdaq 100 ETF and its return of just 0.91% over the same period.

However, the Nasdaq’s recent falls haven’t been enough to dent its longer-term returns just yet. NDQ units have still returned an average of 18.14% over the past three years. Over the past five, the returns have averaged 19.76%.

That contrasts with VAS and its average returns of 9.5% per annum over the past three years, and 8.96% over the past five.

So ASX shares (and VAS by extension) have had a relatively strong year compared to Nasdaq shares. But even so, this hasn’t been enough to make it the preferred ETF to have owned in hindsight. So yes, longer-term investors would have definitely been better off owning NDQ instead of VAS. But, as we always say, past performance is no guarantee of future returns. So who knows what the next one, three and five years will bring for these two ASX ETFs.

The post VAS: Were you better off buying the Nasdaq ETF? appeared first on The Motley Fool Australia.

More reading

• Is Vanguard’s VAS the ASX’s cheapest index fund?
• What is the Vanguard Diversified High Growth Index ETF invested in?
• How does the VAS dividend compare to a high-yield ETF?
• 2 top ETFs rated as buys for May
• Own the Vanguard Australian Shares High Yield ETF? Here’s what you’re invested in

Motley Fool contributor Sebastian Bowen has positions in Apple, Microsoft, Telstra Corporation Limited, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, BETANASDAQ ETF UNITS, CSL Ltd., Microsoft, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has positions in and has recommended BETANASDAQ ETF UNITS and Telstra Corporation Limited. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Despite the carnage that has befallen the tech sector this year, there are a few ASX tech shares that have managed to hold their own.

In light of the implosion across much of the tech sector so far in 2022, it might be insightful to see which ASX tech shares have dodged the damage dealt by markets shifting away from ‘risk-on’ assets.

Here are two tech companies with a positive share price performance since the start of this year.

Tech heads staying above water

The S&P/ASX All Technology Index (ASX: XTX) is down close to 32% since 1 January 2022. At present, this compares to a 7% fall across the much broader S&P/ASX 200 Index (ASX: XJO). In even greater contrast, the utilities and energy sectors are up 20% and 25% respectively.

But a few ASX tech shares have managed to buck the trend, heading north year-to-date (YTD).

Computershare Limited (ASX: CPU)

Rising from the ashes of a burnt-out sector, Computershare is the stock transfer company that has defied the odds this year. It appears investors are content with how the $14.5 billion company has proven to be profitable and pay a consistent dividend.

At the end of December 2021, Computershare recorded US$208.5 million in earnings from US$2.35 billion in revenue. Currently, the company is offering a dividend yield of 2%, which is in line with the industry average.

Since the start of the year, this ASX tech share has garnered enough optimism to push it 16.4% higher. Additionally, as my Foolish colleague Brendon Lau recently pointed out, Computershare has been noted as a potential winner in a rising rate environment.

Brainchip Holdings Ltd (ASX: BRN)

This next share is likely to not only leave tech investors envious, but ASX investors in general. With a 35% gain YTD, Brainchip takes the cake as an ASX tech share that has avoided the recent turmoil.

The artificial intelligence company enjoyed an explosive rally in January during a flurry of announcements. At that time, the Brainchip share price surged as much as 170% in the space of three weeks. Since then, shares have retreated with a few volatile bumps and dips along the way.

Unlike Computershare, this ASX tech share currently lacks any meaningful amount of revenue. Yet, it seems shareholders are adamant they don’t want to miss out on any potential future success, as they hold their shares tightly.

The post These 2 ASX tech shares have escaped obliteration so far this year appeared first on The Motley Fool Australia.

More reading

• BrainChip share price rebounds to gain 5%
• Why AUB, Block, BrainChip, and Pushpay shares are sinking
• Why did the BrainChip share price just crash 17%?
• 3 ASX All Ordinaries shares that managed to post decent gains on Monday
• Why BrainChip, PolyNovo, TPG, and Westpac shares are pushing higher

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Accent Group Ltd (ASX: AX1) share price spent Wednesday well in the green amid news its director and major shareholder upped his holding in the company’s stock.

A firm founded and controlled by Brett Blundy – Australia’s 29th richest person – purchased more than $6.3 million worth of Accent stock in on-market trades earlier this week, according to an ASX release published this morning.

The Accent share price closed the day at $1.37, 6.2% higher than its previous close.

For context, the All Ordinaries Index (ASX: XAO) shook off its earlier fall to finish the day 0.26% higher.

Let’s take a closer look at Blundy’s newly boosted investment in the footwear retailer.

Did this boost the Accent share price today?

Accent’s gains came amid news Blundy’s investment firm BBRC World purchased 4.95 million Accent shares on the market over Monday and Tuesday, paying between $1.26 and $1.27 apiece.

The purchase has increased the investment firm’s voting power to 19% and brought Blundy’s holding in Accent to more than 103.5 million shares.

Blundy also sits on Accent’s board, having been reinstated last month after a near two-year hiatus.

Today’s gains come at a good time for the stock after its disastrous start to the year.

Wednesday’s gains included, the Accent share price is nearly 44% lower than it was at the start of 2022. It has also fallen 49% since this time last year.

The post Something’s afoot! Why is the Accent share price leaping 6% today? appeared first on The Motley Fool Australia.

More reading

• 3 ASX All Ordinaries shares having a stellar run on Wednesday
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• Shoes, shopping, reno: 3 ASX shares experts are buying now
• Analysts name 2 ASX dividend shares with big yields to buy
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been a rough 30 days for the Vulcan Energy Resources Ltd (ASX: VUL) share price.

The stock has slumped 25% in a single month despite seemingly good news being released from the company during that time.

At market close on Wednesday, the Vulcan share price is $7.15, 0.28% higher than its previous close.

For context, the All Ordinaries Index (ASX: XAO) also finished up 0.26% today. It has slipped 6% over the last month.

Let’s take a look at what’s been going on with lithium and renewable energy explorer and developer lately.

What’s driving the Vulcan share price 25% lower?

The Vulcan share price has been trending downhill lately despite many brokers being bullish on the stock.

Analysts believe the stock could more than double, with some slapping it with price targets of $23 last month, as reported by The Motley Fool Australia’s Zach Bristow.

Canaccord Genuity set that price target. Meanwhile, Alster Research and Berenberg expect the company’s shares to reach $20 and $14.20 respectively.

The former flagged that the company could potentially benefit from the conflict in Ukraine, which has led to sanctions on Russian energy imports.

Additionally, renewed focus on Vulcan’s future profitability might have helped bolster its share price last week, as my colleague Mitchell Lawler reported.

Finally, the only price-sensitive news from the company over the last month saw its share price tumble 2.8%.

Vulcan Energy released its quarterly cash flow and activities reports on 28 April.

Within them, the company outlined progress made towards production over the three months ended 31 March.

It received 2.2 million euros of receipts over the quarter and spent 18.9 million euros.

The company expects to finalise its definitive feasibility study in the second half of 2022 and begin lithium production in 2024.

The Vulcan share price is currently 31% lower than it was at the start of 2022. It has also fallen 7% since this time last year.

The post Why has the Vulcan share price tumbled 25% in a month? appeared first on The Motley Fool Australia.

More reading

• Vulcan share price pops 5% on future lithium expectations
• Here’s why ASX lithium stocks are rocketing higher today
• What will the lithium price be in 2025?
• Why is the Vulcan share price lagging the ASX 200 today?
• Down 13% in a month, is the Vulcan share price a buying opportunity?

Motley Fool contributor Brooke Cooper has positions in Vulcan Energy Resources Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The QBE Insurance Group Ltd (ASX: QBE) share price closed 1.12% lower at $12.37 on Wednesday.

After a shaky period in 2021, QBE shares have rebounded once again, gaining almost 9% this year to date.

Meanwhile, in wider market moves, the S&P/ASX 200 Financials index (ASX: XFJ) closed down 1.08% today at 6,495.5.

More upside for QBE to come?

According to the team at JP Morgan, that could very well be the case. Its analysts are baking in considerable upside for QBE in 2022.

“As a global commercial insurer, QBE is subject to the vagaries of the insurance cycle and volatile natural catastrophes,” the broker said in a recent note.

“Trends in the cycle are currently improving, and there could be further upside from premium rates, providing a tailwind for earnings growth, with investment yields a headwind,” it added.

Building the case for JP Morgan was QBE’s income derived from gross written premium (GWP) in the previous quarter. It grew 19% on the prior corresponding period.

As a result, it has increased its earnings estimates for the company from 2023. Its analysts said:

We have increased earnings in CY23 approximately 10% due predominantly to some upside on yields and strong GWP.

CY22 earnings are impacted by perils and the run-off insurance contracts, offset by higher yields, leaving no room for material changes.

Upside catalysts include more success at taking expense and claim costs out of the business than we give credit for, a quick turnaround in the economy, a limited impact from COVID-19-related losses, stronger premium rate increases, and global interest rates holding up better than currently expected.

Consequently JP Morgan is overweight on QBE shares and urges its clients to buy at the current levels, valuing the company at $16.50 per share – an upside potential of 33% from the current share price.

JP Morgan is joined by an extensive list of 10 analysts also advocating buying the stock. That’s 91% of coverage with just one broker saying to hold, according to Bloomberg data. There are no sell ratings on this list.

Meanwhile, QBE shares continue powering on, and have now rushed 17% higher in the last 12 months after this most recent bull run.

The post Why does this broker see another 33% upside in the QBE share price? appeared first on The Motley Fool Australia.

More reading

• Why Alliance Aviation, Amcor, Core Lithium, and QBE shares are storming higher
• QBE share price lifts despite potential $100m impact of Ukraine conflict
• Expert says investors are ‘missing this inflection point’ for QBE shares
• QBE share price riding on these 3 ‘macro tailwinds’, analysts say

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Pilbara Minerals Ltd (ASX: PLS) share price has been on a downhill trajectory over the past month.

Despite travelling 3.56% higher to $2.62 today, the company’s shares have, in fact, plummeted 20% since 11 April.

Below, we take a look at what has happened to Pilbara Minerals shares and if they might present a buying opportunity.

What’s going on with Pilbara Minerals shares?

The Pilbara Minerals share price continued to power ahead from mid-March to April on the back of investor hype.

However, the recent turn of events, such as interest rate hikes and an expected global economic slowdown, likely triggered its downfall.

On most days, anywhere between 20 million and 35 million of the company’s shares are swapping hands. Between 5 May and yesterday, Pilbara Minerals saw up to 51.2 million shares being exchanged on any single day.

With no company announcements within the last two weeks, investor attention has been turned to the spot price for lithium. While the value of lithium carbonate has rocketed since this time last year, prices have gradually eased.

Currently, the battery-making ingredient is fetching 462,500 Chinese yuan per metric tonne. This represents a 4.15% decline over the past month.

In addition, turmoil across global markets has also played a part in the company’s share price.

What do the brokers think?

A couple of brokers weighed in on the Pilbara Minerals share price following the company’s financial scorecard in February.

Analysts at Macquarie slashed its 12-month price target by 5% to $3.50 for Pilbara Minerals shares.

Meantime, Citi also reduced its rating by 5.4% to $3.50.

Based on the current share price, Macquarie and Citi’s take implies a potential upside of 37% for investors.

About the Pilbara Minerals share price

Regardless of its recent declines, the Pilbara Minerals share price has more than doubled in value over the past 12 months.

The company’s shares reached an all-time high of $3.89 in mid-January before sharply pulling back to December 2021 levels.

On valuation grounds, Pilbara Minerals presides a market capitalisation of roughly $7.68 billion.

The post Down 20% in a month, is the Pilbara Minerals share price a buy? appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• 2 ASX shares at ‘appealing’ buy prices right now
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Low charge: Is the party over for ASX lithium stocks?
• Why is the Novonix share price down 6% on Friday?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Money3 Corp Limited (ASX: MNY) share price has moved on a downhill trend since the start of the year. However, this could change following the company’s recent announcement that it will conduct a buyback of its shares.

At the time of writing, the automotive finance specialist’s shares are up 7.62% to $2.40 apiece.

Money3 shares to turn the tide?

According to its release, Money3 advised it will undertake a buyback of up to $15 million of its ordinary shares.

This will occur over the next 12 months through a series of on-market transactions as part of the company’s capital management strategy.

While Money3 will undoubtedly reduce its surplus capital, shareholder value will increase.

To break it down, when Money3 buys back its shares, the number of shares on its registry will decrease. With a lesser amount, this effectively increases the value of each share as the revenue and profits remain the same.

Traditionally, when this occurs, a company’s share price tends to rise over time.

Money3 noted the decision to buy back shares reflects the strong confidence of the group along with future growth prospects.

Money3 managing director, Scott Baldwin commented:

The company has over 20 years’ experience lending and collecting throughout all credit cycles. In addition, given our strong financial health, together with a low level of leverage, and the lowest cost of capital the group has ever had we believe implementing a buyback is the most appropriate capital management strategy at this time.

Money3 share price snapshot

It’s been a disappointing 12 months for Money3 shares, falling 22% in value.

The company’s share price has drifted even further during the course of 2022, down 32%.

Money3 commands a market capitalisation of about $513.03 million and has approximately 213.76 million shares on its registry.

The post This ASX All Ordinaries share just leapt 7% on a $15 million share buyback appeared first on The Motley Fool Australia.

More reading

• Why CSL, Dicker Data, Lifestyle Communities, and Money3 shares are rising today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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