Respected fund manager Wilson Asset Management (WAM) has recently identified two small cap ASX shares that it owns in its portfolio.

WAM operates several listed investment companies (LICs). Some focus on larger companies like WAM Leaders Ltd (ASX: WLE) and WAM Capital Limited (ASX: WAM).

There’s also one called WAM Microcap Limited (ASX: WMI) which targets small cap ASX shares with a market capitalisation under $300 million at the time of acquisition.

WAM says WAM Microcap targets the most exciting undervalued growth opportunities in the Australian microcap market.

The WAM Microcap portfolio has delivered gross returns (that’s before fees, expenses and taxes) of 24.7% per annum since inception in June 2017, which is superior to the S&P/ASX Small Ordinaries Accumulation Index average return of 10.5%.

These are the two small cap ASX shares that WAM outlined in its most recent monthly update:

Atomos Ltd (ASX: AMS)

Atomos is a business that provides digital imaging creation tools for video professionals. WAM explained that Atomos now creates 4K and HD Apple ProRes monitor-recorders, using by video professionals for content creation with lower production costs.

The fund manager pointed to its strongest six months in history, with $32.8 million in sales and $3 million of earnings before interest, tax, depreciation and amortisation (EBITDA) – this was a 210% increase year on year.

WAM was also impressed by the significant cash flow improvement which was growth of 133% to $4.3 million.

The fund manager said that the small cap ASX share has benefited from the large increase in video usage and production during the COVID-19 pandemic across the world.

Atomos is well placed to scale with $23.3 million of cash on its balance sheet and access to an undrawn $5 million working capital facility, according to WAM Microcap.

Universal Store Holdings Ltd (ASX: UNI)

The fund manager also likes Universal store, which was only listed a few months ago.

Universal Store has 65 casual apparel stores across Australia and New Zealand. Its main target audience is the 16 to 35 year old age bracket.

WAM explained that Universal Store sells a selected range of third party branded products – this makes up around 70% of revenue, it also has a range of private label products.

Just like plenty of other businesses, particularly in the retail space, Universal Store reported a record six month result in its FY21 half-year report. It made $31.5 million of underlying earnings before interest and tax (EBIT) – this was growth of 69%. This beat the guidance that was given in January 2021 of a range of $30 million to $31 million.

A key part of that growth was the online sales, which grew by 128% and represented 12% of the overall total thanks to options like ‘ship from store’ and click and collect.

With the company making a record result, it decided to repay its jobkeeper payments of $3 million.

In the second half of FY21, the small cap ASX share is expecting to open three new stores. It’s looking to open more than 100 stores over time.

WAM Microcap is positive on the outlook for growth. It has a good net cash balance sheet of $22.5 million, with plans for expanding its private label brands and a disciplined pricing and promotional strategy.

More reading

• 3 small cap ASX shares to watch in 2021
• 4 exciting small cap ASX shares to watch
• 2 exciting small cap ASX shares to watch
• Why Flight Centre, Life360, Nanosonics, & Universal Store are racing higher
• Why the Universal Store (ASX:UNI) share price is up 6% to a record high

Tristan Harrison owns shares of WAM MICRO FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Atomos Ltd. The Motley Fool Australia has recommended Atomos Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Are you looking to boost your income portfolio with some quality ASX dividend shares? Then you might want to consider the ones listed below.

Here’s what you need to know about these ASX dividend shares:

Accent Group Ltd (ASX: AX1)

The name Accent may not be familiar, but I bet readers will know many of this footwear retailer’s store brands. Accent is the company behind the likes of HYPEDC, Platypus, Sneaker Lab, Stylerunner, and The Athlete’s Foot.

Its stores and their online businesses have been booming over the last 12 months despite the pandemic. This culminated in Accent delivering a strong half year result last month. It revealed a 6.6% increase in total sales to $541.3 million and a massive 57.3% lift in net profit after tax to $52.8 million.

The good news is that the second half started strongly, putting Accent in a position to deliver a bumper full year profit result in August.

Analysts at Bell Potter are positive on the company and have a buy rating and $2.65 price target on its shares. The broker is also forecasting an 11.9 cents per share dividend in FY 2021. Based on the current Accent share price, this will mean a fully franked 5.1% yield.

Coles Group Ltd (ASX: COL)

Another company that has been performing very strongly over the last 12 months is Coles. The supermarket operator has benefited greatly from a shift in consumer behaviour caused by the pandemic. 

However, with the company now cycling the elevated sales period from a year earlier, its second half performance is not expected to be as strong as the first. In fact, management has even warned that sales could decline during the half. This has put pressure on the Coles share price, bringing it down to a level which many brokers believe is very attractive.

One of those is Goldman Sachs. Its analysts have a buy rating and $20.70 price target on its shares currently. The broker remains positive on its medium term outlook thanks to its strong market position, Refreshed Strategy, and focus on automation.

Goldman is forecasting a 62 cents per share dividend in FY 2021. Based on the current Coles share price, this represents a fully franked 4% yield.

More reading

• Why the Coles (ASX:COL) share price is still down 15% in 2021
• Got money to invest for dividends? Here are 2 ASX shares
• 2 ASX dividend shares to buy with yields above 4%
• ASX 200 Weekly Wrap: Calm restored to the ASX 200
• Leading brokers name 3 ASX dividend shares to buy

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. 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 Bruce Jackson.

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Due to recent pullbacks in the share prices of a number of growth shares, now could be an opportune time to consider making some new additions to your portfolio.

But which ASX growth shares should you buy? Here are two which could be in the buy zone:

Altium Limited (ASX: ALU)

The first ASX growth share to look at is Altium. It is an electronic design software provider best-known for its Altium Designer and Altium 365 platforms. It also has the Octopart electronic parts search engine business and the NEXUS design collaboration platform supporting the core business.

These businesses look well-positioned for growth over the long term thanks to the rapidly growing internet of things and artificial intelligence markets. These markets are underpinning an explosion in electronic devices globally, which is leading to increased demand for Altium’s offering.  

One broker that is positive on the company’s future is UBS. Last month the broker upgraded Altium’s shares to a buy rating with a $34.00 price target. This compares to the latest Altium share price of $26.72.

Xero Limited (ASX: XRO)

Another ASX growth share to consider is Xero. It is a leading provider of a cloud-based business and accounting solution to small and medium sized businesses globally.

Xero has been growing strongly over the last few years and looks well-positioned to continue the trend in the years to come. Particularly given recent acquisitions, which are strengthening its offering and positioning it for growth. One of those was the Planday acquisition that was announced earlier this month. Xero will pay up to $284.6 million for the workforce management platform.

In addition to this, the company looks well-placed for long term growth thanks to its international expansion, the shift to the cloud, and the monetisation of its app ecosystem.

The latter is something Goldman Sachs is particularly positive on. It believes that it could provide it with a multi-decade runway for strong growth if management can successfully monetise its app ecosystem.

Goldman has a buy rating and $157.00 price target on its shares. This compares to the current Xero share price of $117.67.

More reading

• ASX 200 jumps, Pointsbet reveals acquisition, Metcash drops
• ASX 200 up 0.8%: Metcash update, tech shares rebound, PointsBet acquisition
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 down 0.1%: Afterpay sinks, Evolution announces acquisition
• The Altium (ASX:ALU) share price is nearing its 52-week low

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. The Motley Fool Australia owns shares of Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The two S&P/ASX 200 Index (ASX: XJO) shares in this article have been growing their dividends every year to shareholders for over a decade.

It’s quite rare to find an ASX 200 share that has a dividend growth record going back over a decade. The GFC ended a number of dividend growth records, including the one belonging to Ramsay Health Care Limited (ASX: RHC).

The business with the longest dividend growth record in the ASX 200 is Washington H. Soul Pattinson and Co. Ltd (ASX: SOL).

But this article is about these two ASX 200 dividend growth shares:

Domino’s Pizza Enterprises Ltd. (ASX: DMP)

Domino’s actually has a dividend growth streak going back to the GFC. Since then the pizza business has become a global fast food powerhouse.

In the latest result, being the FY21 half-year report, it reported it made $1.84 billion of network sales (up 16.5%) and online sales grew by 25.4% to $1.42 billion.

At the end of the half, it had grown its store count to almost 2,800. Over the next decade or so it’s looking to grow that store count to around 5,550. Europe will account for around half of that total, with the Japanese store target goal being 1,500 and ANZ making up the rest.

The ASX 200 share is still forecasting solid medium-term growth. Over the next three to five years it thinks that the annual same store sales could grow by 3% to 6% per annum, with an outlook for annual organic new store additions of between 7% to 9% per annum.

Japan is a region that the company is “very confident of ongoing expansion”. In the FY21 half-year result it saw online sales growth of 56.6%, network sales growth of 42.6% and same store sales (SSS) growth of 36.4%.

Overall, Domino’s half-year net profit grew 32.8% and free cashflow went up 50.3%, funding a 32.5% increase to the dividend.

APA Group (ASX: APA)

APA’s distribution growth record actually extends back before the GFC. It’s one of the longest records on the ASX.

This ASX 200 share is a major Australian energy infrastructure business that owns and/or manages and operates a portfolio of assets worth around $22 billion. It has 15,000 kilometres of natural gas pipelines that connect sources of supply and markets across mainland Australia. It connects 1.4 million Australian homes and businesses to natural gas, supplying around half of the nation’s usage.

The business also has investments in a number of other energy infrastructure assets such as wind farms, solar farms, gas storage, gas processing and gas power stations.

APA continues to look for new investments that can grow its operating cashflow, which is what funds the distribution to shareholders. It’s looking to expand into high growth infrastructure markets. It said it will invest in contracted and regulated energy infrastructure (gas, electricity and renewables) in Australia and North America.

The ASX 200 dividend share has also established its ‘pathfinder program’ to explore a range of new energy technologies.

It’s expecting to organically spend more than $1 billion over FY21 to FY23, including building the new $460 million Northern Goldfields Interconnect and $38 million Gruyere Hybrid Energy Microgrid.

APA continues to hunt for opportunities in the US, but factors like COVID-19 and the US federal election resulted in a number of opportunities being put on hold in 2020. More activity is expected in FY21.

In the FY21 half-year result APA grew the distribution by 4.3% to 24 cents per security, with guidance for the full year distribution to by 51 cents – a 2% total increase. This equates to a forward distribution yield of 5.2%.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• Sneaky way ASX company can boost share price by 7%
• ASX 200 jumps, Pointsbet reveals acquisition, Metcash drops
• The RBA expects cheap money to remain. What does that mean for stocks?
• ASX 200 will end this year on a record high

Motley Fool contributor Tristan Harrison owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of APA Group. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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On Tuesday the S&P/ASX 200 Index (ASX: XJO) was on form and charged notably higher. The benchmark index surged 0.8% higher to end the day at 6,827.1 points.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to drop lower today after a subdued night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 28 points or 0.4% lower this morning. In late trade in the United States, the Dow Jones is down 0.3%, the S&P 500 is down 0.1%, and the Nasdaq is up slightly.

Oil prices fall again

It could be a tough day for energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) on Wednesday. According to Bloomberg, the WTI crude oil price is down 1.1% to US$64.69 a barrel and the Brent crude oil price has fallen 0.9% to US$68.29 a barrel. This was the third trading session in a row of declines for oil prices. Traders appear concerned that demand could soften as COVID-19 vaccine rollouts are halted in Europe.

Gold price flat

Gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) will be on watch after a flat night for the gold price. According to CNBC, the spot gold price is steady at US$1,729.30 an ounce. A firmer US dollar held back the gold price.

Shares going ex-dividend

A couple of ASX 200 shares are going ex-dividend this morning and could trade lower. Shipbuilder Austal Limited (ASX: ASB) and poultry producer Inghams Group Ltd (ASX: ING) are trading without the rights to their upcoming 4 cents and 7.5 cents per share dividends, respectively. Eligible shareholders will be paid these dividends in April.

Webjet rated as a buy

The Webjet Limited (ASX: WEB) share price could be in the buy zone according to one leading broker. According to a note out of Goldman Sachs, its analysts have initiated coverage on the online travel agent with a buy rating and $7.36 price target. The broker expects its Webbeds business to be a long-term growth engine for the company.

More reading

• Sneaky way ASX company can boost share price by 7%
• ASX 200 jumps, Pointsbet reveals acquisition, Metcash drops
• The RBA expects cheap money to remain. What does that mean for stocks?
• ASX 200 will end this year on a record high
• Why the Coles (ASX:COL) share price is still down 15% in 2021

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Austal Limited. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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QSuper and Sunsuper Pty Ltd are gearing up for a merger that will create a $200 billion superannuation fund servicing two million members. 

SunSuper announced that the merger – which will see the new entity become the second-largest superannuation fund in Australia – is scheduled for September 2021. 

SunSuper CEO to lead new superannuation fund

The release advised that Sunsuper CEO Bernard Reilly will lead the merged entity, a move welcomed by Sunsuper chair Andrew Fraser and QSuper chair Don Luke. They said in a joint statement:

Bernard brings a global perspective, with a proven track record in leading large-scale enterprises in Australia and internationally.

He is an exceptional candidate to lead the establishment of what will be a major, and enduring, Australian superannuation fund.

According to the release, QSuper CEO Michael Pennisi intended to leave in October 2020 following his 5-year tenure. However, he stayed the extra months to see the merger through.

QSuper’s side of the new business puts $120 billion on the table and brings 600,000 members to the deal. SunSuper brings $80 billion to the fund and 1.4 million members. 

QSuper and SunSuper move to finalise deal 

As the historic superannuation deal marches toward its September closing, both parties are ironing out the conditions.

According to a report in the Australian Financial Review, the Queensland Government supports the merger depending on conditions that are under negotiation. These include that the new entity maintains the same defined benefits and associated liabilities as the original funds. In addition, the new entity must have government representation and satisfy key stakeholders.

Commenting on the agreement, Mr Fraser and Mr Luke said:

Each of our boards believe that signing a Heads of Agreement is in their members’ best interests and we are each taking the next step to realise the potential of this merger.

Foolish Takeaway

The heads of agreement signed by SunSuper and QSuper is a non-binding agreement. If the merger is successful, one of the biggest financial powerhouses in Australia will take shape.

More reading

• The Peninsula Energy (ASX:PEN) share price lifted 14% today
• Temperature check: How is the CSL (ASX:CSL) share price faring today?
• Sneaky way ASX company can boost share price by 7%
• ASX 200 jumps, Pointsbet reveals acquisition, Metcash drops
• 3 beaten down ASX shares that could be great value

Motley Fool contributor Gretchen Kennedy 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 Bruce Jackson.

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The Peninsula Energy (ASX: PEN) share price closed more than 14% higher today, and with no new announcements from the company, the question is why.

At the time of writing, the Peninsula Energy share price is trading at 12 cents, which is the highest it’s been since February.

Let’s dig deeper into the Peninsula Energy share price

The uranium mining company’s share price has increased by more than 22% since it released its half-yearly report last Thursday.

The results for the half-year ending 31 December 2020 included a strong balance sheet, with generally slightly higher incomes and lower losses than the previous year’s report. While it housed no red flags, neither did it contain any potential gold mines.

One point of difference is the fact the half-yearly report is the first released since the company began trading in the OTCQB Venture Market in February.

Being listed in the OTCQB Venture Market is reserved for penny stocks and small foreign companies. It allows a company greater access to overseas investors.

Upon being approved to trade in the OTCQB Venture Market, Peninsula CEO Wayne Heili said:

US based investors have demonstrated a keen awareness of Peninsula and our flagship Lance Project located in the State of Wyoming but they have been limited to trading of shares during Australian market hours.

Share price snapshot 

The Peninsula Energy share price started of poorly this month, but its latest gain might be the beginning of a recovery. It is currently trading at 12 cents, up from yesterday’s closing price of 10.5 cents.

The Peninsula Energy share price is currently up 55.8% over the past 12 months and up 4% year to date.  

The company has a market capitalisation of $93.8 million with approximately 893 million shares outstanding.

More reading

• The Peninsula Energy (ASX: PEN) share price continues to fly

Motley Fool contributor Brooke Cooper 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 Bruce Jackson.

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The CSL Limited (ASX: CSL) share price has had a disappointing last couple of weeks, dragged down 9% with the broader ASX market slump in early March.

This comes despite the company posting an impressive set of numbers from its half-year results in February.

Below, we take a closer look at CSL’s most recent update and how brokers view the global biotech’s shares.

How did CSL perform for the first-half?

In its results, CSL reported that COVID-19 had temporarily impacted CSL Behring’s performance during the first half of 2021 while boosting its Seqirus business. Despite the difference, both segments saw an increase in earnings before interest and tax (EBIT) of 24% and 112%, respectively.

This led to a surge of net profit after tax (NPAT) of $1,810 million, a jump of 44% over the prior corresponding period.

The company stated that global demand for its therapies remained strong, particularly with significant growth in seasonal influenza vaccines. The latter is due to the COVID-19 pandemic driving high rates of people getting protected from the flu.

What were the challenges?

While the results themselves were positive, CSL revealed that it continued to face some challenges.

The company advised that plasma collections remained an issue as restrictions on passenger movements affected blood donations through its collection centres.

In the United States, CSL has moved to reach out to donors through targeted marketing initiatives. This includes turning to social media influencers to encourage giving blood, as well as increased monetary incentives.

Collection volumes at the end of last year stood at 80% when compared against December 2019.

In addition, CSL had to re-prioritise some R&D projects, such as halting its efforts to develop a COVID-19 vaccine with the University of Queensland.

It found that during its Phase 1 trial, patients who were undertaking the vaccine candidate were registering as false positives on HIV tests. In light of this, the company decided not to proceed with further phase 2/3 trials.

Broker update

After reporting its first-half results, several brokers rated the company with varying price points.

The Swiss investment firm UBS cut its price target for CSL by 2.7% to $330.00. Morgan Stanley followed suit to also reduce their rating by 2.5% to $276.00, then upgraded in March to an add rating with a $301.10 price target.

According to a note out of Citi, its analysts have upgraded the biotech giant’s shares to a buy rating with a $310.00 price target

The most recent broker note came from Macquarie last week, which has initiated a price of $288.00 for the biotech.

At the time of writing, the CSL share price is sitting at $261.81, up 2.33% for today. 

CSL share price review

Over the past 12 months, the CSL share price has lost around 6%, mostly from its year-to-date performance.

The company’s shares moved sideways for much of the period before plummeting on its latest results release. It’s worth noting that its shares today are priced the same as when they were back in November 2019.

More reading

• 3 beaten down ASX shares that could be great value
• Share market on watch over AstraZeneca vaccine fears
• ASX 200 Weekly Wrap: Calm restored to the ASX 200
• Top brokers name 3 ASX shares to buy next week
• 10 of the best ASX shares to buy in March

Aaron Teboneras owns shares of CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL 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 Bruce Jackson.

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A panel of experts has revealed an immediate way an ASX company can improve returns for its shareholders.

Speaking at a webinar on Tuesday, Ramsay Health Care Ltd (ASX: RHC) chief people officer Colleen Harris, Australian Council of Superannuation Investors chief Louise Davidson, and Chief Executive Women president Sam Mostyn called for ASX businesses to improve the gender balance in executive and board positions.

The discussion cited a study that showed a 10 percentage-point increase in female representation in top tier management positions boosted the market capitalisation of the company by 6.6%.

“S&P/ASX 200 Index (ASX: XJO) companies can lead the way and achieve better results for all their stakeholders by ensuring their leadership teams are balanced,” said Mostyn.

“More diverse teams lead to stronger financial performance and safer company cultures. Risk is reduced and outcomes improved – a 40:40 vision of gender equality is a corporate responsibility right now.”

Only 10 CEOs in the ASX 200 are female

The discussion was hosted by the 40:40 initiative, which launched last year to drive Australian companies to a minimum of 40% of each gender on executive and board roles by 2030.

The panel heard that only 10 out of 200 companies in the ASX 200 have a female chief executive. And only 1 out of the 25 appointed last year was female.

Panel moderator and HESTA chief Debby Blakey said the low CEO rate was unsurprising considering only 25% of ASX 200 leadership positions were held by women.

“Those companies not looking closely enough at 50% of the population when identifying top talent risk missing out not only on the best people but also the long-term performance edge a more diverse and inclusive culture provides.”

There was good news in that the number of female board members on the ASX 200 has increased from 11 to 24 from 2015 to now.

“We’re very encouraged to see the number of women directors continuing to increase. But it’s disappointing that the number of female chairs and CEOs continues to languish,” said Davidson.

“Women’s progression to executive leadership positions and CEO roles still has a long way to go, and it will take sustained effort for this to change.”

‘Time for waiting is over’

Ramsay Health’s board has 3 female directors out of 8, which falls short of the 40% campaign. But Harris pointed out the company’s record at the middle levels of its workforce.

“In Australia, 59% of our hospital and facility CEOs are women and 60% of our regional executives are women,” she said.

“By supporting the 40:40 Vision initiative, we hope to encourage other ASX200 companies to achieve gender equality.”

Blakey acknowledged executive talent management is a complex exercise, but felt the 40:40 campaign gave organisations enough wriggle room to meet the target.

“We want to see real, genuine change – not just additional layers of needless reporting and governance resulting in a tick-the-box exercise,” she said.

“The time for waiting is over because we can’t wait decades to see equal numbers of men and women in senior leadership.”

More reading

• ASX 200 jumps, Pointsbet reveals acquisition, Metcash drops
• The RBA expects cheap money to remain. What does that mean for stocks?
• ASX 200 will end this year on a record high
• Why the Coles (ASX:COL) share price is still down 15% in 2021
• These 2 ASX shares are the newest “buy” ideas from top brokers

Motley Fool contributor Tony Yoo 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 Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) went up by 0.8% today, rising to 6,827 points.

The tech sector went through a bit of a recovery rally today. The Afterpay Ltd (ASX: APT) share price rose 3.1% and the Xero Limited (ASX: XRO) share price grew 4%.

Here are some of the highlights from the ASX:

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price rose strongly today after announcing an acquisition.

It’s acquiring Banach Technology, which is a Dublin-based provider of proprietary risk management platforms and quantitative driven trading models that support complex pre-game and in-play betting products across numerous sports, including the four major American sports and international soccer.

Pointsbet is going to spend US$43 million to buy the business on a cash and debt free basis. This price will be split between 55% cash and 45% in 1.75 million shares.

The Banach team were described by Pointsbet as deeply experienced, particularly in leading pre-game and in-play sports wagering markets, having previously established the ‘quants’ division of Paddy Power Plc, which is now Flutter Entertainment Plc.

Pointsbet’s managing director Sam Swanell said:

We are delighted with the acquisition of Banach and that its well credentialled team have agreed to join Pointsbet. As legalisation to approve US sport betting accelerates across the US, it has become clear that the in-play opportunity will be very significant and those with the best depth and breadth of product will win.

Metcash Limited (ASX: MTS)

The Metcash share price fell after giving investors a trading update and increasing its dividend guidance.

Metcash gave a detailed presentation about the different segments of its business including food, liquor and hardware.

In the trading update it said that in the first four months of the second half of FY21, it is seeing strong sales momentum continuing in all of its pillars from a shift in consumer behaviour, improved competitiveness of its retail businesses, stronger customer loyalty and a strong Christmas and New Year period of trading.

However, Metcash reminded investors that in March 2021 and April 2021 it will be cycling against the spike in sales for food and hardware in FY20.

Supermarket sales are up 14.4% against the prior corresponding period, with food sales up 4.1% (or up 14.1% excluding the 7-Eleven impact).

Hardware sales increased 31.6% in the first four months of the second half of FY21. It was a 19.2% increase excluding Total Tools.

Liquor sales increased 19.6% year on year.

In terms of its dividend, Metcash said that strong financial performance and cashflows support raising the target dividend payout ratio to 70% of underlying net profit after tax (NPAT).

Clover Corporation Limited (ASX: CLV)

The Clover share price jumped today more than 9% after reporting its FY21 half-year result.

Net sales revenue decreased 21.7% to $29.4 million, whilst net profit after tax declined by 45.8% to $2.5 million.

Adjusted for foreign exchange impacts, net sales revenue was $30.3 million. Excluding Melody Dairy start-up and IP legal defence costs, there was an underlying net profit after tax (NPAT) of $3.3 million.

Clover said that it has retained and grown its customer base, but the ongoing COVID-19 pandemic has negatively impacted customer demand. Many of the new product programs under development have been placed on hold due to customers’ staff around the world working from home.

Some customers have experienced reduced demand as the China market undergoes changes in supply channels due to COVID-19 restrictions and the daigou channel reduction, whilst minimal international travel by Chinese tourists and students has slowed the grey market importing of many products including infant formula. The local Chinese market has become more competitive with local manufacturers competing on price and aggressive channel strategies.

The board decided to declared an interim dividend of 0.5 cents per share.

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Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Clover Limited and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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