Why Domino’s, HMC Capital, Regis Healthcare, and WiseTech shares are falling today

The S&P/ASX 200 Index (ASX: XJO) is starting the week strongly on Monday. In afternoon trade, the benchmark index is up 0.9% to 8,699.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price is down almost 2% to $21.71. This may have been driven by a broker note out of Citi. According to the note, the broker has downgraded the pizza chain operator’s shares to a sell rating with a $19.85 price target. The broker has concerns over the company’s operations in France and Japan. And given recent share price strength, it feels the risk is to the downside now for investors.

HMC Capital Ltd (ASX: HMC)

The HMC Capital share price is down 3.5% to $3.83. This morning, this alternative investment company’s shares were officially kicked out of the ASX 200 index following the quarterly rebalance. This means that certain index funds need to sell shares to reflect the changes. In addition, some fund managers have mandates that mean they can only invest in shares that are part of indices like the ASX 200 index. It is possible that they could be hitting the sell button and moving onto other options now the rebalance has taken place.

Regis Healthcare Ltd (ASX: REG)

The Regis Healthcare share price is down 2.5% to $7.14. Investors have been selling this aged care operator’s shares following the surprise resignation of its CEO. Dr Linda Mellors has announced her resignation after more than six years in the role. The company revealed that Mellors has decided to pursue a career opportunity in an unrelated sector. She has a six month notice period to serve. Regis’ chair, Graham Hodges, said: “Linda leaves the business in a strong financial and operating position and with a capable and experienced executive team. We wish her every success in the next chapter of her career.”

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is down 4% to $67.29. On Friday, the logistics solutions technology company revealed that its founder, Richard White, has entered into a collar derivative transaction and related financing facility with Macquarie Group Ltd (ASX: MQG) in respect of 20 million WiseTech shares. This was the equivalent of 6% of its issued shares and had a market value of approximately $1.4 billion at Friday’s close. The company notes that this may “be legally characterized for the purposes of section 707 of the Corporations Act as a sale.”

The post Why Domino’s, HMC Capital, Regis Healthcare, and WiseTech shares are falling today appeared first on The Motley Fool Australia.

More reading

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• Why I think these 3 ASX shares are top-quality buying at today’s prices
• 5 things to watch on the ASX 200 on Monday

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor James Mickleboro has positions in Domino’s Pizza Enterprises and WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises, HMC Capital, Macquarie Group, and WiseTech Global. The Motley Fool Australia has positions in and has recommended Macquarie Group and WiseTech Global. The Motley Fool Australia has recommended Domino’s Pizza Enterprises and HMC Capital. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.