4 ASX 200 stocks smashing new 52-week highs on Wednesday

Businessman cheering at desk with arms in the airBusinessman cheering at desk with arms in the air

It’s been a pretty horrible day for ASX shares and the S&P/ASX 200 Index (ASX: XJO) in general so far this Wednesday. At the time of writing, the ASX 200 has lost a nasty 1.06%, putting the index down to around 7,350 points.

But not all ASX 200 shares are in the wars today. In fact, let’s talk about four that are not only rising, but have just hit new 52-week highs today.  

4 ASX 200 stocks at new 52-week highs on Wednesday

Altium Limited (ASX: ALU)

ASX 200 tech share Altium is one such company that is defying the market’s gloom today. At present, the Altium share price has risen by a decent 1.94% to $39.70 a share. But earlier this morning, the software-as-a-service (SaaS) provider rose as high as $40.34. That’s a new 52-week high for Altium shares.

We haven’t had any news out of Altium itself for almost a month. So perhaps a rise in the US tech sector overnight is helping to boost sentiment for shares like Altium today. This company’s shares are up a pleasing 15.4% year to date, so this could also be an extension of that trend.

Carsales.com Ltd (ASX: CAR)

Another ASX 200 tech share in Carsales is our next stock to check out. Carsales is also having a massive day today. The online marketplace operator has had a very bouncy day indeed. Carsales shares are presently deep in the red, nursing a 1.26% loss to $22.66 a share.

But this morning saw the company rocket, with the shares hitting $23.53 soon after open. That’s Carsales’ new 52-week high.

Investors have been showing a renewed appreciation of Carsales shares ever since the company announced its latest half-year earnings on Monday. Revenue, profits and earnings were all up across the board, and Carsales jacked up its interim dividend by almost 12%. So this probably explains today’s new high.

Seven Group Holdings Ltd (ASX: SVW)

Next up we have the ASX 200 diversified investment company Seven Group. Seven is having a fantastic session this Wednesday. The company is currently up a healthy 3.03% to $24 a share but rose as far as $24.53 just before midday today.

This one is pretty clear. Seven has also just reported its own half-year earnings this morning. This saw a 16% rise in revenues, while net profits were up 17% and earnings per share (EPS) rose 18%. Obviously, investors have been impressed by what seven had to show.

Lottery Corporation Ltd (ASX: TLC)

Finally today, let’s talk about ASX 200 gaming share Lottery Corporation. Lottery Corp shares are currently up by 0.9% at $5.04 each. But this morning saw this company rise as high as $5.10 per share. That’s (you guessed it) a new 52-week high for Lottery Corp.

Unlike Carsales and Seven Group, we haven’t had any earnings from Lottery Corp recently. So this rise appears to just be the result of some investor goodwill. Lottery Corp shares have been on the SX for less than a year. The company was spun out of Tabcorp Holdings Ltd (ASX: TAH) in May last year.

The post 4 ASX 200 stocks smashing new 52-week highs on Wednesday appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen 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 Altium. The Motley Fool Australia has recommended Carsales.com. 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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