The Commonwealth Bank of Australia (ASX: CBA) share price has had a great month.

On 4 July, the S&P/ASX 200 Index (ASX: XJO) bank share closed at $91.45. Its shares are currently trading for $100.58, up 10% in a month.

With a big month of gains behind it, is the CBA share price now fully valued?

For some greater insight into that question, we defer to JP Morgan executive director Andrew Triggs.

RBA rate hikes and net interest margins

The Reserve Bank of Australia’s steady path of interest rate hikes, with another 0.50% increase announced yesterday, has the potential to offer some tailwinds for the CBA share price as the bank can increase the net interest margin (NIM) it pockets on its loans.

Of course, all the banks could come under pressure if new mortgage loans fall precipitously or bad debts rise more than currently forecast.

As for net interest margins, Triggs said (courtesy of The Australian), “CBA reported minus 4bps [-0.04%] of NIM pressure in Q3 but we see an improved NIM in Q4 on early benefits of rate rises.”

Triggs said that he expects slightly higher costs for the big bank in the second half of FY22. However, he believes investors will be primarily focused on the NIM outlook, saying the CBA share price is likely to be more influenced by RBA rate hikes due to its higher leverage to the increased cash rate.

“We expect signs of a very healthy underlying franchise and CBA should be most leveraged to a rising cash rate,” he said. “However, with the stock trading at a 50% 12-month forward PER [P/E ratio] premium to peers this looks more than in the price.”

At the current price, CBA trades at a P/E ratio of 19 times.

By comparison, Australia and New Zealand Banking Group Ltd (ASX: ANZ) trades at a P/E ratio of 10.1 times while National Australia Bank Ltd (ASX: NAB) trades at a P/E ratio of 15.3 times.

JP Morgan has an $83.80 target for the CBA share price and is underweight on the stock.

CBA share price snapshot

With a big month behind it, the CBA share price is now down less than 1% in 2022. That compares to a year-to-date loss of 8% posted by the ASX 200.

The post Up 10% in a month, is the CBA share price now fully valued? appeared first on The Motley Fool Australia.

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More reading

• Here’s the CBA dividend forecast through to 2024
• Here’s what’s happening with CBA shares this week
• Can investors bank on a dividend surprise from CBA shares this earnings season?
• Why did the ANZ share price smash the other ASX 200 banks today?
• Own CBA shares? Union labels bank ‘irresponsible’ following major COVID change

Motley Fool contributor Bernd Struben 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 Imugene Limited (ASX: IMU) share price has lifted into the green in afternoon trade on Wednesday.

At the time of writing, the share is swapping hands 3.26% higher at 23.75 cents apiece. For context, the All Ordinaries Index (ASX: XAO) is down 0.35%.

Imugene bounced from a 52-week low of 14 cents on 14 June and now trades around 70% higher off that mark, or around 22% in the past month.

What’s up with the Imugene share price?

It had been all downhill for Imugene shareholders in the eight months leading to June. Shares had reverted from a peak of 60.5 cents on 9 November and sailed down to yearly lows by then.

However, healthcare shares have caught a bid in the new financial year, with the S&P/ASX Health Care Index (ASX: XHJ) up around 10% on the month.

The moves appear to have inflected positively on the Imugene share price, with both instruments moving in relatively close succession of each other this year to date, as seen below.

Meanwhile, the share is rated a buy from 100% of the brokers covering the company, according to Refinitiv Eikon data.

The consensus price target from this list is 56 cents per share, implying a considerable amount of upside potential should the brokers be correct.

Further, Immugene released its quarterly results last month, reinstating positive results from its final HER-Vaxx HERIZON Phase 2 trial.

It also noted a cash balance of approximately $100 million dollars leaving the quarter. Meanwhile, the company spent $8.1 million on research and development for the quarter.

In the last 12 months, the Imugene share price has slipped more than 20% into the red, and is down 40% this year to date.

The post Up 22% in a month, can the Imugene share price extend its rally? appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
• Why is the Imugene share price sinking 13% this week?
• Why Appen, EML, Imugene, and Nanosonics shares are sinking
• ASX 200 midday update: ANZ’s capital raising, Link jumps, Zip’s Q4 update
• The Imugene share price has rocketed 77% in a month. What’s going on?

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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Shares of Netflix Inc (NASDAQ: NFLX) gained 28.6% in July, according to data from S&P Global Market Intelligence. After two disappointing earnings reports and a gloomy first half of the year, the digital-video veteran presented a rosier picture of its subscriber growth trends in July’s second-quarter update.

Investors were quick to embrace that bullish morsel, sparking several days of rising share prices.

So what

Netflix’s subscriber count fell in two straight quarters, including a loss of 1 million accounts in the second-quarter report. Management signalled an end to that downtrend, forecasting the third-quarter figure to hit an all-time high of 221.67 million global paid memberships.

At the same time, the second-quarter results were a mixed bag. Earnings came in above expectations but revenue fell slightly short of guidance and analyst estimates. Furthermore, revenue growth should continue to slow down in the third quarter as the year-over-year growth rate drops to roughly 4.7%, down from 8.6% in the second quarter.

But none of that mattered. Investors and analysts are still laser-focused on Netflix’s subscriber growth, so that’s the guidance target that wrote all of the company’s headlines for this quarter.

Now what

That extreme focus on subscriber growth is a mistake. That used to be the most important figure in Netflix’s quarterly reports, but the company is shifting gears as we speak. The streaming video service is now paired with a growing portfolio of mobile games. An ad-supported service tier will soon be available for price-sensitive consumers.

Netflix is also experimenting with different methods to collect revenue from people using the platform for free via shared passwords. Notably, some of these forward-looking initiatives should add to Netflix’s top and bottom lines without lifting the subscriber count. Therefore, subscriber growth shouldn’t be the headline-writing metric anymore.

So the stock posted a sharp gain of almost exactly 30% in July, but that boost started from a multiyear-low market bottom. Netflix stock is still a tremendous bargain, trading 35% lower in 2022 and 57% below November’s all-time highs.

These discounts will only last until market makers wise up to the shifting direction of Netflix’s business goals. It could take a few quarters before that message really sinks in, much like it took about two years before the shares fully recovered from the Qwikster debacle — also known as the start of the game-changing digital streaming era.

It looks like history is about to repeat itself here. So why not grab some Netflix stock while it’s cheap?

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Netflix shares rose 29% last month, but the stock is still cheap appeared first on The Motley Fool Australia.

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More reading

• Netflix is the worst-performing stock in the S&P 500. But is it a buy?
• Netflix’s subscriber loss sell-off: Should you really ditch the stock?
• Netflix still has a long way to go
• Why did the Netflix share price lift despite losing 970,000 subscribers?
• The end of ‘Stranger Things’ might actually be a boost for Netflix

Anders Bylund has positions in Netflix. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Netflix. The Motley Fool Australia has recommended Netflix. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Altium Limited (ASX: ALU) share price has moved in circles since the company last reported its results in February.

This comes as the electronic design software company tries to navigate its way through the current challenging market environment.

At the time of writing, Altium shares are edging lower to $30.89, down 1.03% for the day.

This means its shares are down 10% from the time when the company delivered its H1 FY22 financial scorecard.

Below, we take a closer look to see if investors can learn anything from the company’s last earnings season.

What happened in the first half of FY22?

During February 2022, Altium delivered its half-year results for the 2022 financial year to the market.

Despite reporting double-digit growth in sales and profits, investors heavily sold off the company’s shares by more than 9%.

This appeared to be in relation to investors expecting more from the company’s FY22 outlook.

While Altium shares staged a mini-revival in the following weeks, it was short-lived as market confidence deteriorated.

External factors such as rampant inflation, aggressive rate hikes and softer earnings on Wall Street attributed to the cause.

Consequently, Altium shares tumbled to a 52-week low of $24.32 on 12 May before travelling in a sideways channel.

It has only been in the last 4 weeks that its shares have ticked up a notch as the broader market begins to recover.

What should investors look out for?

With Altium due to report its full-year results on 22 August, investors may be wondering what to expect.

Altium upgraded its full-year revenue to be at the top end range of its previous guidance range. This is expected to be between US$213 million to US$217 million in revenue, representing 18-20% growth.

However, management is forecasting the EBITDA margin to be towards the low-end guidance range of 34-36%. This is due to the company pursuing “new cloud and enterprise sales roles in an increasingly competitive talent market.”

Annual revenue growth (ARR) is projected to come between 23-27% for the full year.

Looking further ahead, Altium is confident of achieving US$500 million in revenue, 100,000 subscribers and 95% recurring revenue for FY25/26.

In addition, one broker believes that the electronic design software company will achieve its targets in the near term.

As reported by my Foolish colleague James, Bell Potter noted Altium has taken a different approach in FY22.

It commented on how management is aiming to boost subscriber numbers over revenue growth for the second half. While this may put the above guidance at risk, Bell Potter doesn’t think this will happen.

As such, its analysts have a buy rating on Altium shares along with a price target of $34 apiece. Based on the current level, this implies an upside of 10%.

Altium share price snapshot

In 2022, the Altium share price has fallen 32% on the back of weakened investor sentiment across the tech sector.

For context, the S&P/ASX All Technology Index (ASX: XTX) is down 25% over the same time frame.

Altium has a price-to-earnings (P/E) ratio of 97.75 and commands a market capitalisation of roughly $4.06 billion.

The post How did the Altium share price respond last earnings season? appeared first on The Motley Fool Australia.

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• 2 outstanding ASX growth shares brokers rate as buys
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• 3 reasons I think Altium is a top ASX growth share

Motley Fool contributor Aaron Teboneras has positions in Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium. 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 Ramsay Health Care Limited (ASX: RHC) share price has been stubborn this week. This is despite news of the termination of the company’s agreement with health insurance provider Bupa. 

On the day of the announcement yesterday, the Ramsay share price closed at $70.57, slightly lower than its previous close. Currently, shares in the private healthcare operator are down 0.09% to $70.50 apiece.

Why the Ramsay share price held steady

Negative news tends to push down a company’s share price. But in this instance, Ramsay had already flagged its notice of termination of the Bupa contract in May. So, the market saw this coming. 

Yesterday, Ramsay confirmed it could not reach a resolution on key terms of a new contract. As such, it decided to part ways.

For patients of Ramsay who are insured with Bupa, the termination means the contractual and agreed transitional arrangements apply for a period of at least 60 days. As a result, a Bupa-insured customer is required to pay the difference between what Bupa pays out and Ramsay’s total hospital fees. 

Ramsay also noted it is liaising with impacted patients to assist with providing alternatives, which include changing health funds. 

Although the agreement has been terminated, both parties are still on speaking terms in the hope of striking a new agreement.

The rise of private health insurers

According to a statement by the Australian Medical Association (AMA) in May 2022, “some larger private health insurers were increasingly trying to use their market power to squeeze private hospital operators in order to improve their own bottom line”.

Evidently, Ramsay is not budging given its market position. However, this could prove to be a risky move amid the continued shortage of nurses pushing up wage expenses, as well as supply chain pressures. 

Meanwhile, private health insurers have benefited from the pandemic, boosting their bottom line over the last two years. 

It appears private health insurers are in a better position to negotiate terms and if more negotiations break down, it could mean Ramsay is facing a genuine power shift over the short to medium term. 

As a result, this could spell trouble for the Ramsay share price. The company might need to pay more to private health insurers to secure patients, leading to lower returns on capital.

Monitoring the market share of the dominant private health insurers could be a sound method of determining who is winning the arm wrestle.

The post What’s been impacting the Ramsay Health share price this week? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Monday
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Motley Fool contributor Raymond Jang 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 Ramsay Health Care 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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In the midst of one of the most uncertain periods in ASX investing we have seen in years in 2022, it can be hard to decide where to deploy one’s capital. The ASX has hundreds of individual shares to choose from, after all.

And with concerns over inflation, rising interest rates, geopolitics and a possible looming recession, throwing more money into the share market can certainly be intimidating right now.

So here is one ASX share I would have no problem buying with $10,000 right now, despite all the uncertainty.

The ASX share I would buy with $10,000 today

Washington H Soul Pattinson and Co Ltd (ASX: SOL), or Soul Patts for short, is one of the oldest shares on the ASX. It even predates Federation, starting out life back in 1872. But today, Soul Patts is not just a pharmacy, as it was back in the 19th century.

The company has morphed into what one could describe as something close to an ASX-listed managed fund. It now holds a massive and diversified portfolio of underlying investments, including many ASX shares.

Today, Soul Patts owns large stakes in a number of quality ASX companies. These include TPG Telecom Ltd (ASX: TPG), New Hope Corporation Limited (ASX: NHC) and Brickworks Limited (ASX: BKW).

Thanks to its merger with the old Milton Corporation last year, Soul Patts now also owns Milton’s old portfolio of ASX blue-chip shares as well.

And that’s in addition to a sizeable portfolio of unlisted assets too, such as agricultural assets and swim centres.

So all in all, an investment in Soul Patts is really an investment into this broad underlying investment portfolio. And Soul Patts has the runs on the board to prove it’s a worthwhile long-term investment.

Growth and dividends?

According to its last half-year financial report the company delivered back in January, Soul Patts investors have enjoyed total shareholders returns amounting to an average of 13% per annum over the past 20 years.

Soul Patts is also the only ASX share that has given investors a dividend rise every single year since 2000. So investors have enjoyed both healthy capital returns, and clockwork-like dividend raises consistently over the past two decades.

That’s enough for me to have faith in the management to keep the returns rolling in.

As such, Washington H Soul Pattinson is the ASX share that I would be happiest spending $10,000 on today.

At the current Washington H Soul Pattinson share price, Soul Patts has a market capitalisation of $9.43 billion, with a dividend yield of 2.48%.

The post This is the one ASX share I would spend $10,000 on today appeared first on The Motley Fool Australia.

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• Here’s why I just bought more Soul Pattinson shares
• Own Soul Patts shares? Here’s what to look out for in FY 2023
• 5 worst ASX energy shares of FY22
• The rise and fall of the Soul Pattinson share price over the past year

Motley Fool contributor Sebastian Bowen has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended 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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Flight Centre Travel Group Ltd (ASX: FLT) shares are struggling today, but it is not the only ASX 200 travel share that has been in the red today.

Flight Centre shares are currently trading at $17.12, a 0.23% fall. In comparison, the S&P/ASX 200 Index (ASX: XJO) is falling 0.34% today.

Earlier, the Qantas Airways Limited (ASX: QAN) share price was falling 1.31%, while Webjet Limited (ASX: WEB) shares were down 1.39%. Both shares have retraced to be in the green currently.

Let’s take a look at what is happening at Flight Centre.

More ‘pain’

Flight Centre managing director Graham Turner is predicting that travel pain could continue until “October or November”, and that’s assuming Omicron settles down.

Speaking on the Today Show about recent cancellations and flight delays, Turner said:

It will improve but it’s going to take some time I would suggest six or eight weeks before all of this really settles down and there is going to be pain for domestic travellers in that time.

Turner highlighted that building back the travel industry after two and a half years of having to cut back travel to the bone is “quite difficult”. He said.

There’s just lack of experience, expert staff, pilots, and not only that, obviously this latest COVID wave is meaning there is a lot of absenteeism as well.

Turner said despite delays, lots of changes and quite a few cancellations, most people are getting away to their destination domestically.

Flight Centre upgraded its FY22 market guidance in a release to the market last week. The travel company is expecting a solid rebound in travel demand late in the year. Flight Centre predicts to report an underlying EBITDA loss of between $180 and $190 million. This represents an 11.9% improvement on its initial FY22 market guidance.

Flight Centre share price snapshot

Flight Centre shares have soared 13% in a year, but are 3% in the red year to date.

For perspective, the ASX 200 has lost nearly 7% in a year.

Flight Centre has a market capitalisation of $3.42 billion based on the current share price.

The post Own Flight Centre shares? Here’s why the boss is predicting more pain for the travel sector appeared first on The Motley Fool Australia.

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Motley Fool contributor Monica O’Shea 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 Flight Centre Travel Group Limited and Webjet 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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The BWP Trust (ASX: BWP) share price is climbing on Wednesday after the real estate investment trust (REIT) reported its full-year FY22 earnings.

The highlight was an 85% increase in net profit to $486.6 million compared to $263.2 million in FY21.

In addition, BWP’s property portfolio gained 14.1%, or $379.1 million, in value over FY22. BWP said the result reflected “the ongoing attractiveness of Bunnings Warehouse properties to investors”.

The REIT declared a final distribution of 9.27 cents per unit payable on 19 August. Total annual distributions for FY22 were the same as FY21 at 18.29 cents.

Based on the BWP share price of $4.29 at the time of writing, this is an annual yield of 4.26%.

BWP share price up as property portfolio gains 14%

BWP reported the following additional results:

• Unitholders’ equity of $2.5 billion and total liabilities of $500 million
• Net tangible assets of $3.87 per unit at 30 June, up 17.6% on FY21
• Final distribution of 9.27 cents includes 0.44 cents per unit of capital profits released from the undistributed income reserve, which is 20% less than FY21
• Weighted average cost of debt (finance costs as a percentage of average borrowings) 2.7%
• Gearing (debt/total assets) was 15.1% at 30 June
• Other operating expenses in FY22 were $8.7 million, up 1.16% on FY21
• Management expense ratio of 0.64% in FY22, up from 0.63% in FY21.

What else happened in FY22?

BWP investment properties raked in an extra $1 million in rental income in FY22. This was largely due to annual rent increases and new leases. Like-for-like rental growth was 3.3% in FY22. The trust granted rent abatements of $300,000 to tenants affected by COVID-19 shutdowns, compared to $500,000 in FY21.

At 30 June, 97.5% of the portfolio was leased. The weighted average lease expiry (WALE) is 3.9 years.

In FY22, Bunnings Warehouse exercised five-year options for its stores in Geraldton (WA), Mornington (VIC), Frankston (VIC), Gladstone (QLD), Greenacre (NSW), Craigieburn (VIC), and Scoresby (VIC).

BWP also agreed to a $12.8 million upgrade of the Lismore (NSW) Bunnings Warehouse property.

The trust’s Scope 2 emissions position at 30 June was net-zero. BWP said this was a result of using “green electricity” and carbon credits. The trust incurs Scope 2 emissions from electricity usage at a small number of properties where the trust has responsibility for power usage.

What’s next?

BWP said inflation, the cost of funding, and future investor demand would influence its performance in FY23 and beyond. Any further COVID-related disruptions and the time and cost of repositioning properties vacated by Bunnings would also have an impact.

The trust relies on the health of the Bunnings network, which is owned by Wesfarmers Ltd (ASX: WES). It therefore also relies on the popularity of home improvement and lifestyle products.

BWP said:

For the year ended 30 June 2022, there continued to be strong investor demand for Bunnings Warehouse properties. This was driven by the low interest rate environment and the search by investors for running yields higher than interest rates, the strong Bunnings financial covenant, and the relative risk of a Bunnings Warehouse investment, compared to other property and other asset classes.

In FY23, BWP said it will be focused on filling vacancies in the portfolio, progressing store upgrades, extending existing leases with Bunnings through the exercise of options, completing market rent reviews, and continuing the rollout of energy efficiency improvements at its properties.

BWP added:

Subject to there being no major COVID-19 or other disruption of the Australian economy, the Trust could expect the distribution for the year ending 30 June 2023 to be similar to the ordinary distribution paid for the year ended 30 June 2022.

BWP share price snapshot

The BWP share price is up 4.63% over the past 12 months. In the year to date, it is up 1.66%.

BWP has outperformed the benchmark S&P/ASX 200 A-REIT Index (ASX: XPJ) significantly. The index is down 7.46% over 12 months and 19.23% lower year to date.

The post BWP Trust share price lifts as net profit soars 85% in FY22 appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen has positions in Wesfarmers 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 positions in and has recommended Wesfarmers 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 Pinnacle Investment Management Group Ltd (ASX: PNI) share price is soaring today.

Pinnacle shares closed yesterday trading for $10.07 and are currently trading for $11.41, up 13.31%.

This comes after the multi-affiliate investment management firm released its full-year financial results for the 12 months ending 30 June (FY22) after market close yesterday.

Below, we look at the highlights.

Pinnacle share price leaps as profits grow in FY22

• Net profit after tax (NPAT) of $76.4 million, up 14% from $67.0 million in FY21
• Basic earnings per share (EPS) of 40.2 cents, up 5% from 38.2 cents in FY21
• Net inflows of $600 million
• Declared fully-franked final dividend of 17.5 cents per share (cps); total FY22 dividends of 35.0 cps, up 22% from FY21

What else happened during the financial year?

As at 30 June 2022 Pinnacle reported its aggregate affiliates’ funds under management (FUM) stood at $83.7 billion. That was down 6% from the $89.4 billion reported for 30 June 2021.

Aggregate retail FUM increased 4% year on year to $21.1 billion.

The company said retail net inflows over the financial year continued to be positive, noting that the first half of FY22 was much stronger than the second half. H1 saw a record $2.9 billion of retail net inflows, while H2 inflows came in at $700 million. Pinnacle said this was mostly due to broader industry-wide pressure and market dislocation.

The investment manager closed out FY22 with cash and principal investments of $178.2 million. Its facility from the Commonwealth Bank of Australia was extended to $120.0 million and fully drawn down on 30 June 2022.

The Pinnacle share price could also be getting a boost after the company revealed it has plenty of “dry powder” on hand for potential business investment with $90.0 million of that CBA facility invested into liquid funds managed by affiliates “until required”.

What did management say?

Addressing the growth in profits, dividends and EPS that look to be driving the Pinnacle share price higher today, Pinnacle chair Alan Watson said, “Whilst these growth rates are not as high as anticipated earlier in the year, they were unquestionably affected by the market context of current geopolitical tension, war, elevated inflation and sharply rising interest rates”.

Pinnacle’s managing director, Ian Macoun, added:

Following the record retail inflows in the first half of the 2022 financial year, net inflows for the second half fell below our expectations as we confronted difficult market conditions and industry-wide pressures.

We have continued to invest in our distribution capabilities, particularly retail and offshore, to ensure that we are well positioned to continue to grow and broaden our market share. In contrast to the disappointing headline flow numbers, it is pleasing that our average base fees continue to rise, and that the revenue impact of our net flows over the financial year has been significantly positive.

What’s next?

Looking ahead, Watson said, “We plan to continue our strategy of further increasing the diversity of asset classes under management, and the diversity of sources of funds under management, particularly international, and retaining a healthy percentage of funds under management exposed to performance fees, thereby further increasing both the resilience and growth potential of Pinnacle.”

Pinnacle share price snapshot

Despite today’s surge, the Pinnacle share price remains down 27% in 2022, compared to a year-to-date loss of 9% posted by the All Ordinaries Index (ASX: XAO).

The past month has been much better for Pinnacle shareholders, with the stock price up 53% since 4 July.

The post Pinnacle share price surges 13% on 2022 financial year profit growth appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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 PINNACLE FPO. The Motley Fool Australia has positions in and has recommended PINNACLE FPO. 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 hasn’t been a great week thus far for the Appen Ltd (ASX: APX) share price. Appen shares may be up a seemingly-healthy 2.17% to $4.24 a share so far this Wednesday. But the artificial intelligence (AI) share is still down by more than 27% since Friday last week.

The company has also lost a staggering 61% of its value over 2022 thus far and remains down almost 90% from its August 2020 all-time high of over $40 a share.

So the pains of Appen shares this week might provoke some investors to ask ‘what are the insiders doing?’ After all, the moves of the people closest to a company’s operations can be a great insight into what the future might bring for a company.

Perhaps especially so for Appen. Appen has just announced the appointment of a new independent non-executive director in Lynn Mickleburgh. This new position was announced on 29 July and took effect that day.

Well, according to an ASX release yesterday, Mickleburgh hasn’t yet got any skin in the Appen game. The ASX release reveals she holds no Appen shares whatsoever.

So when were Appen’s insiders last buying (or selling) the company’s shares?

Have Appen insiders been buying the company’s shares?

Well, the last ASX notice for an insider transaction came back in May. That showed CEO Mark Brayan being issued with $1.5 million worth of shares, perhaps a component of his remuneration package.

Before that, the last voluntary transaction came from Appen’s non-executive chair Richard Freudenstein. Records show Freudenstein buying just over $100,000 worth of shares back in March.

In the same month, CEO Brayan also picked up more than $700,000 worth of Appen shares. Another non-executive director in Venessa Liu picked up close to $15,000 worth of shares in March as well.

Going off of the Appen share price performance since March, these transactions have probably cost their executors between 30-40% of their original capital on today’s pricing.

So that’s what Appen’s insiders have been doing over the past few months with Appen shares. Not too much buying, one could conclude. But also no selling.

At the current Appen share price, this ASX tech share has a market capitalisation of $523.4 million, with a dividend yield of 2.36%.

The post When were insiders last buying up Appen shares? 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 Appen Ltd. 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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