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The Bitcoin (CRYTPO: BTC) price is down 8% over the past 24 hours. One Bitcoin is currently worth US$42,245 (AU$57,868).

And it’s not just Bitcoin falling.

According to data from CoinMarketCap, every one of the top 57 cryptocurrencies by market valuation is in the red at the time of writing.

In fact, out of the top 100 cryptos, only 2 have posted gains over the past 24 hours. OMG Network (CRYTPO: OMG) is up 19% and Celo (CRYPTO: CELO) is up 8%.

Not even the once joke token and recent rising crypto star Dogecoin (CRYPTO: DOGE) has escaped the wider crypto selloff. Dogecoin is down 8% in 24 hours, currently worth 20 US cents.

As an important reminder of the wild volatility that continues to come along with crypto investing, Dogecoin peaked (briefly) above 70 US cents on 8 May. Investors who bought at that peak are currently nursing losses of some 72%.

Ouch.

Why are cryptocurrencies losing ground today?

Bitcoin, Dogecoin, and the wider crypto world tend to come under pressure from similar forces that impact global share markets.

The S&P/ASX 200 Index (ASX: XJO) has shrugged off its losses from earlier in the day to close up 0.35%. But it’s still down 2.5% from last Friday’s open.

US, European, and Asian share markets have been selling off as well. The Nasdaq (INDEXNASDAQ: .IXIC), as one example, closed down 2.2% yesterday (overnight Aussie time).

So, what’s going on?

Some analysts have been forecasting a pending market correction for a while now, with many citing stretched valuations. However, the catalyst for the recent selling appears to be China Evergrande Group (HKG: 3333).

I penned an article on the Chinese property giant’s looming debt woes earlier today. (You can find that here.)

That article focused on the potential impact on ASX 200 iron ore miners, should Evergrande be left to fail. The iron ore connection – with China’s near insatiable steel appetite fuelling its construction boom – is rather obvious.

But could a potential Evergrande collapse be seeing investors sell their Bitcoin holdings too?

Bitcoin’s losses tied to sale of risk-off assets

Yes, says Jonathon Miller, managing director Australia of cryptocurrency exchange Kraken.

According to Miller:

Quite often there is negative news out of China and we see this impact the price of Bitcoin to varying degrees, and the fallout from Evergrande is following a similar pattern…

Simply put, Bitcoin is an emerging store of value. It does have a tendency to be strongly correlated with stocks from time to time. Bitcoin is also much more volatile an asset, though its volatility continues to fall as it matures and adoption persists. For these reasons, it comes as no surprise that we’re seeing Bitcoin move lower alongside other risk-off assets.

Miller added that “the long-term trend of the cryptocurrency indicates resilience”.

Dogecoin soars in popularity

The latest selloff may give newer crypto investors the jitters. But it’s unlikely to dissuade crypto bulls, accustomed to potential outsized price swings in either direction.

And it looks like ever more Aussies are jumping on that bandwagon.

Australian crypto exchange CoinSpot reported yesterday that its customer numbers have more than doubled in less than 8 months.

In February, CoinSpot had 1 million customers. As of Monday’s report, the exchange boasted more than 2 million customers.

CoinSpot credited the rapid growth to “the surge of Australian retail, institutional, and SMSF investors into the crypto market, and … the 2021 crypto boom”.

As for Dogecoin, CoinSpot noted an eye-popping increase in investor interest relative to Bitcoin:

Whilst Bitcoin has still been the most popular traded cryptocurrency on the CoinSpot platform to date, Dogecoin has soared to the second most popular cryptocurrency, due to the dramatic price increase experienced during May 2021.

Trading activity in Dogecoin on CoinSpot increased by 3,840% year-to-date, and Bitcoin trading activity increased by 190%, compared to the same time last year.

What’s next for Dogecoin and Bitcoin prices?

With investors across the world keeping one eye on the Evergrande crisis, the short-term answer to that question may well sit with Chinese President Xi Jinping.

Will his government toss the embattled, debt-laden property developer a lifeline?

Or won’t they?

The post Not even Bitcoin and Dogecoin are immune to the Evergrande fallout appeared first on The Motley Fool Australia.

More reading

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• A 10-fold spike in the Bitcoin (CRYPTO:BTC) price? Not so fast!
• Cryptocurrencies are making their way into more retiree portfolios
• Why this expert thinks gold is a better investment than Bitcoin
• Survey reveals big shift in Australians investing in Bitcoin and Ethereum

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. 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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Transurban Group (ASX: TCL) shares continue to remain frozen today following the company’s latest capital raising efforts.

Before Monday’s market open, the toll road operator’s shares were placed in a trading halt, leaving them at $14.18 apiece.

What happening in the media regarding Transurban?

According to an article published by the Financial Review, Transurban has been at the forefront of the Australian Competition and Consumer Commission (ACCC).

ACCC chair Richard Sims has highlighted the growing concern that Transurban’s $11.1 billion win gives it a monopoly in the toll operator market.

Yesterday, the company announced that Sydney Transport Partners (STP) will acquire the remaining 49% equity stake in WestConnex from the NSW Government. Transurban secured the initial 51% interest in 2018 for $9.3 billion.

The acquisition will take STP’s total ownership interest in WestConnex to 100%. Transurban owns 50% of STP alongside other strategically aligned partners.

This brings the company to control most of the toll roads in New South Wales, Victoria and Queensland. However, there are fears that having a dominant position, Transurban can force motorists to pay high tolls.

Mr Sims commented on the continuous errors made by state governments to award the company, focusing on short-term profits. This has left out many other competitors who are unable or unwilling to compete.

Using of the WestConnex will increase by either 4% or through inflation annually, whichever is greater. This will continue on for the next 20 years, with the inflation rate taking over from 2040 to 2060.

Transurban owns all tolls roads located in Sydney, besides the Harbour Bridge and the tunnel.

Across its southern state, the company is facing a $450 million cost blowout on the West Gate project. A dispute over the handling of toxic soil along with costs has ensued with its builders CPB and John Holland.

This has led the $10 billion project to be pushed back past 2024. Originally, the company had pencilled in a completion date around November 2022.

Transurban revealed its plans this week to raise $4.2 billion through an equity raise to pay for Sydney’s WestConnex project.

Transurban share price snapshot

Over the past 12 months, Transurban shares have moved in circles, lifting just 3% for the period. Year-to-date, the company’s shares are also 3% higher.

Transurban has a price-to-earnings (P/E) ratio of 172.41 and commands a market capitalisation of roughly $38.93 billion.

The post Own Transurban (ASX:TCL) shares? Here’s why the company is making news again today appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Transurban acquisition, BHP & Fortescue sink
• Transurban (ASX:TCL) share price halted for $4.2bn WestConnex equity raising
• 5 things to watch on the ASX 200 on Monday
• 2 ASX dividend shares to buy next week
• The Transurban (ASX:TCL) share price is up only 1% this year. Is it a buy?

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 Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) has dramatically recovered from its early losses this morning and has closed in the green, up 0.35% to 7,273 points. Despite this recovery, the Australian Foundation Investment Co Ltd (ASX: AFI) share price, or AFIC for short, remains in the red.

AFIC shares finished at $8.30 each, down 1.07% for the day.

This is rather strange since, as a Listed Investment Company (LIC), AFIC’s portfolio is quite similar to the ASX 200’s own holdings.

To illustrate, here are AFIC’s top 10 ASX holdings, as of 31 August:

1. Commonwealth Bank of Australia (ASX: CBA)
2. CSL Limited (ASX: CSL)
3. BHP Group Ltd (ASX: BHP)
4. Wesfarmers Ltd (ASX: WES)
5. Westpac Banking Corp (ASX: WBC)
6. Macquarie Group Ltd (ASX: MQG)
7. Transurban Group (ASX: TCL)
8. National Australia Bank Ltd (ASX: NAB)
9. Woolworths Group Ltd (ASX: WOW)
10. James Hardie Industries plc (ASX: JHX)

That list almost exactly mirrors the ASX 200’s current lineup. The only exceptions are Telstra Corporation Ltd (ASX: TLS) instead of James Hardie and Australia and New Zealand Banking Group Ltd (ASX: ANZ) in place of Transurban.

AFIC’s August NTA reveals a share price premium

So let’s check out what’s going on here. We’ll start with AFIC’s Net Tangible Assets (NTA). Since LICs are what’s known as a “closed-ended investment vehicle”, their market valuation can stray from the value of their underlying share portfolio. In other words, an LIC’s shares can either trade at a premium or at a discount to what they’re worth on paper.

As of 31 August, AFIC tells us that its NTA per share stands at $7.71 before tax considerations and $6.36 per share after tax.

As you can gather from the current AFIC share price, this (before tax) NTA undershoots the current AFIC share price by around 8%. This means that AFIC shares are currently trading with an 8% premium to their underlying value.

This could explain today’s share price fall in the face of the rising ASX 200. A big premium to an LIC’s NTA could conceivably give nervous investors the chance to sell out of their holdings, even in the face of a rising market.

At the current AFIC share price, this LIC has a market capitalisation of $10.16 billion and a dividend yield of 2.89%, or 4.13% grossed-up with AFIC’s full franking.

The post How does the AFIC (ASX:AFI) share price compare to its net tangible assets? appeared first on The Motley Fool Australia.

More reading

• Here are the ASX 200’s most active shares this Tuesday
• ASX 200 (ASX:XJO) midday update: APA makes AusNet bid, New Hope results impress
• Why is everyone talking about ASX SPI Futures?
• New Hope (ASX:NHC) share price jumps on $337m profit turnaround
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank Limited and Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Telstra Corporation 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 Baby Bunting Group Ltd (ASX: BBN) share price was among the best performers on the All Ordinaries index on Tuesday.

The baby products retailer’s shares ended the day with a gain of 4% to $5.50.

This latest gain means Baby Bunting’s shares are now up 24% since this time last year.

Why did the Baby Bunting share price storm higher today?

Investors were bidding Baby Bunting’s shares higher on Tuesday after it was the subject of a bullish broker note out of Citi.

According to the note, the broker has upgraded the retailer’s shares to a buy rating with an improved price target of $5.98.

Based on the current Baby Bunting share price, this implies potential upside of approximately 9% over the next 12 months.

And with Citi forecasting a 17 cents per share fully franked dividend in FY 2022, the potential return stretches to almost 12%.

What did the broker say?

Citi made the upgrade largely on valuation grounds. The broker notes that the Baby Bunting share price has pulled back meaningfully since the release of its full year results for FY 2021 in August.

It sees this as a buying opportunity. Particularly given its belief that the retailer is well-placed for growth. In addition, Citi is expecting a decent trading update at its annual general meeting in October.

Citi commented: “We upgrade to Buy as we now see the risk/reward tradeoff to be more favourable following the -12% share price decline since the FY21 result. The company’s core growth strategies of rollout, exclusive/private label growth and supply chain efficiencies remain intact.”

“Further, Baby Bunting is well placed to report a relatively stronger AGM trading update compared to most listed retail peers given the nondiscretionary nature of its products,” the broker concluded.

The post Baby Bunting (ASX:BBN) share price surges higher on broker upgrade appeared first on The Motley Fool Australia.

More reading

• Why Atlas Arteria, Baby Bunting, De Grey Mining, & New Hope are pushing higher
• 2 strong ASX retail shares that could be buys
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• What has happened to the Baby Bunting (ASX:BBN) share price this year?
• Top brokers name 3 ASX shares to buy next week

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 recommended Baby Bunting. 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 Macquarie Group Ltd (ASX: MQG) share price is trading lower again on Tuesday.

The investment bank’s shares are currently down 1% to $171.74.

This means the Macquarie share price is now down 6% from the record high of $182.66 it reached last week.

Is the Macquarie share price in the buy zone?

A number of brokers have been giving their verdict on the Macquarie share price and have very different opinions.

For example, the team at Ord Minnett are positive on the company. They have an accumulate rating and $190.00 price target on its shares.

Based on the current Macquarie share price, this implies potential upside of ~11% before dividends.

Ord Minnett is confident on the investment bank’s long term growth prospects and believes its shares are reasonably priced.

Neutral view

Over at Goldman Sachs, its analysts are sitting on the fence. Goldman has a neutral rating and $170.62 price target on the company’s shares. This is broadly in line with where its shares are trading today.

The broker commented: “The earnings upgrade cycle continues for MQG and since troughing in May-20, its 12-mo forward EPS has risen 52%, and sits within 2% of its Apr-19 peak. However, since Apr-19, its share price is nearly one-third higher. Therefore, with MQG currently trading on a 12-mo forward P/E of 20.5x, with incremental earnings upgrades still coming largely from investment income and trading, we stay Neutral.”

The bear

Finally, the team at Citi believe the Macquarie share price is overvalued at the current level.

Earlier this month, the broker put a sell rating and $153.00 price target on the company’s shares. This implies potential downside of 11% over the next 12 months.

While Citi acknowledges that its guidance upgrade was a positive surprise, it isn’t enough for a change of rating.

Citi explained: “MQG has provided guidance for the 1H22 result to be ‘slightly down’ on 2H21, implying a range of ~$1.8-2.0bn of NPAT for the half. As we flagged recently, this implies another quarter where profitability has approached $1bn. This sees 1H22 earnings as being materially ahead of consensus (Visible Alpha $1.55bn), but slightly ahead of CitiE (prior forecast $1.78bn).”

“The stock has reacted positively to the guidance upgrade (+5%), but consensus is largely upgrading on the back of one-time MIC wind-down revenues. At 22x FY23 earnings the stock remains expensive in our view,” it concluded.

Time will tell which broker makes the right call.

The post Here’s what 3 brokers think of the Macquarie (ASX:MQG) share price appeared first on The Motley Fool Australia.

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• The BHP (ASX:BHP) share price is worth $55 according to Macquarie
• Why the St Barbara Ltd (ASX: SBM) share price is outperforming today
• Is worst over for ASX gold shares as Macquarie upgrades sector?
• Macquarie (ASX:MQG) share price struggles amid broker sell rating

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 owns shares of and has recommended Macquarie Group 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 Insurance Australia Group Ltd (ASX: IAG) share price is edging higher today after the company announced the resignation of its Chief Risk Officer (CRO).

IAG shares are now changing hands at $5, a slight 0.6% dip into the green during this afternoon’s session.

What did IAG announce?

In announcement made earlier this morning, IAG announced that David Watts, resigned from his role as CRO of the company.

IAG’s managing director and CEO, Nick Hawkins, was thankful of Watts’ contributions to the company, in his tenure of 3 years in the role.

No reason was given for the departure, and Hawkins has an extensive history of holding CRO designations.

Prior to his time at the insurance giant Watts spent time at Westpac Banking Corporation (ASX: WBC), first joining the bank as its CRO back in 2009, before leaving a “Portfolio Integrity” role for IAG in 2018.

Watts will continue as IAG’s head risk manager “into the new year”, as internal and external executive search processes have yet to start.

Investors appear relatively unfazed by the news, and haven’t bought or sold either way. Although, the IAG share price has still gained a good 8 cents on the day.

Yet, it’s been a disappointing week for IAG’s share price over the past week. In fact in the last 7 days, IAG shares have fallen 4.4% out of the money. This puts shareholders 7% in the red for the past month.

CMC Hospitality’s application to start a representative proceeding against IAG in Federal Court certainly isn’t helping the picture, that’s for sure.

It hasn’t been served with the application yet, so IAG’s been quiet on the issue. However did state that the application is related to “business interruption losses” due to Covid-19.

Nonetheless this is a factor that may continue weighing in on IAG’s share price as more details are revealed.

What did management say?

Speaking on today’s announcement, CEO Nick Hawkins said:

David has driven a big program of work to strengthen risk management and uplift our risk culture
across the company. A key achievement is the successful delivery of our risk maturity program
which has improved our risk systems, policies and processes, and launched our integrated risk
management system.

IAG share price snapshot

It’s not all bad news for the IAG share price. It is still up 7% this year to date, and has gained around 11% over the past year.

However, both of these results have lagged the S&P/ASX 200 index (ASX: XJO)’s return of around 25% over the past 12 months.

The post IAG (ASX:IAG) share price gains after Chief Risk Officer resignation appeared first on The Motley Fool Australia.

More reading

• Here’s what has been moving the IAG (ASX:IAG) share price in September 2021
• Why this broker sees the IAG (ASX:IAG) share price gaining 12%
• The next ASX 200 shares that could undertake a big capital return
• Why the IAG (ASX:IAG) share price is down 5% in 7 days
• Why experts have high hopes for the IAG (ASX:IAG) share price

The author Zach Bristow has no positions 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 owns shares of and has recommended Insurance Australia Group 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 Little Green Pharma Ltd (ASX: LGP) share price is struggling this month despite numerous positive announcements released to the market.

On 6 September, the medical cannabis producer announced its first Danish shipment and two new appointments. Then, on 7 September, it announced it will foray into psychedelic medicines.

Unfortunately, none of Little Green Pharma’s gains from the announcements have managed to stick. In fact, the company’s stock has returned all its September gains and then some.

Right now, the Little Green Pharma share price is 70 cents, flat with its previous close, and 6.67% lower than its first close of this month.

Let’s take a closer look at the latest news from the company.

The month so far for Little Green Pharma

The Little Green Pharma share price is having a tough slog this month despite the market reacting positively to 2 announcements.

First off, Little Green Pharma announced the first shipment of cannabis flower medicine from its recently acquired Danish facility had arrived in Australia. Additionally, the company shared news of 2 key appointments.

The cannabis flower medicine is named Billy Buttons THC 16 and has a THC content of 16%. The company is selling Billy Buttons to the Australian market in 15-gram packs.  

Little Green Pharma expects to receive another 2 shipments from its facility in Denmark before the end of October.

Little Green Pharma also announced it had appointed the former managing director of its Danish facility, Morten Snede, as its new Chief Financial Officer. It also brought the former managing director of Tasmanian Botanics, Tony Roberts, on board as its new general manager.

The Little Green Pharma share price gained 4% on the back of the day’s news.

The following day, the company announced it was to venture into supplying psychedelic medicines.

Western Australia’s Department of Health granted Little Green Pharma a licence to supply psilocybin. As a result, the company formed a subsidiary to conduct its psychedelic business.

Psilocybin can be used to treat mental illness.

Following the announcement, the Little Green Pharma share price gained 6.4%.

Unfortunately, its gains didn’t hold. Since then, the company’s share price has fallen 14.6% for no apparent reason.

Little Green Pharma share price snapshot

Despite its recent dip, Little Green Pharma’s stock has been performing well on the ASX.

It is currently 25% higher than it was at the start of 2021. It has also gained 150% since this time last year.

The post The Little Green Pharma (ASX:LGP) share price has fallen 7% this month appeared first on The Motley Fool Australia.

More reading

• What’s going wrong for ASX cannabis shares lately?
• Why the Little Green Pharma (ASX:LGP) share price has lost 20% since July

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 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 S&P/ASX 200 Index (ASX: XJO) has had a fairly wild day of trading thus far on Tuesday. The ASX 200 is currently in the green, up a healthy 0.14% at 7,258 points after falling all the way down to 7,191 points earlier today.

So let’s check out which ASX 200 shares are currently topping the charts in terms of raw trading volume, according to investing.com.

The ASX 200’s 3 most traded shares this Tuesday

Telstra Corporation Ltd (ASX: TLS)

ASX 200 telecommunications giant Telstra is our first company to check out today. This Tuesday has seen a hefty 21.26 million Telstra shares change hands at the time of writing. There is no major news or announcements out of Telstra today so far.

However, the Telstra share price is having a pretty decent day today. The telco is up 1.42% to $3.93 a share thus far. This likely is what is resulting in such a high volume of Telstra shares trading this Tuesday.

South32 Ltd (ASX :S32)

ASX 200 resources share South32 is next up. This diversified miner has seen a sizeable 23.75 million of its shares bought and sold so far this Tuesday. Like with Telstra, there is no major news or announcements out of this company today.

However, South32 shares are being rather heavily sold off thus far. The South32 share price is currently sitting at $3.28 a share, down 1.05%. It seems this selloff is what is behind the large volume of S32 shares flying around this Tuesday.

AMP Ltd (ASX: AMP)

Yes, embattled wealth manager and financial services company AMP is still an ASX 200 share, if only by the skin of its teeth. This Tuesday has seen a whopping 26.3 million AMP shares swap hands so far. Once again, there are no major developments we can point to for this move.

However, and unfortunately for investors, this company is having the same problem as South32. The AMP share price is down 1.32% today to yet another all-time low of 93 cents at the time of writing, putting its losses for the past month at 13.7%.

This drop today is the likely reason why AMP is currently topping the ASX 200 trading volume charts.

The post Here are the ASX 200’s most active shares this Tuesday appeared first on The Motley Fool Australia.

More reading

• Why this broker loves the current Telstra (ASX:TLS) share price
• ASX 200 (ASX:XJO) midday update: APA makes AusNet bid, New Hope results impress
• Why is everyone talking about ASX SPI Futures?
• New Hope (ASX:NHC) share price jumps on $337m profit turnaround
• Is the South32 (ASX:S32) share price a buy for dividends?

Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation 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 owns shares of and has recommended Telstra Corporation 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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Do you own WAM Capital Ltd (ASX: WAM) shares? If you do, you also own part of an underlying share portfolio. See, WAM Capital is a Listed Investment Company (LIC) which means it is a company that primarily invests in other companies’ shares on behalf of its own owners and shareholders.

WAM Capital is one of the older LICs on the ASX. It was founded back in 1999 by Wilson Asset Management (the WAM in WAM Capital). Since then, it has averaged a return of 16.7% per annum (not including fees and taxes). Due to its longevity and returns, this LIC is now worth a whopping $2.06 billion market capitalisation.

So what exactly are you buying today if you invest in WAM Capital shares?

What do WAM Capital shares have under the hood?

Well, according to the company’s latest update (valid as of 31 August), this LIC has 13.2% of its assets in cash with the remainder actively invested in a portfolio of “compelling undervalued growth opportunities in the Australian market”.

Amongst its top 20 share positions, WAM Capital is invested in the following:

• Adbri Ltd (ASX: ABC)
• Ardent Leisure Group Ltd (ASX: ALG)
• Carsales.com Ltd (ASX: CAR)
• Codan Limited (ASX: CDA)
• IDP Education Ltd (ASX: IEL)
• Pendal Group Ltd (ASX: PDL)
• Pact Group Holdings Ltd (ASX: PGH)
• Select Harvests Limited (ASX: SHV)
• United Malt Group Ltd (ASX: UMG)
• Viva Energy Group Ltd (ASX: VEA)
• Virgin Money UK (ASX: VUK)

So if you own WAM shares, you indirectly own interests in those businesses too.

In terms of the overall portfolio, WAM also tells us that WAM Capital’s current portfolio has the heaviest allocation to the consumer discretionary sector at 18.8% of the portfolio. Industrials is up next with 13.9%, followed by communication services at 9.1%.

How are WAM’s dividends going?

WAM Capital has amassed a reputation for being an income friendly ASX share over the past few years by steadily paying out a generous stream of fully franked dividends.

It has paid an annual dividend of 15.5 cents per share every year since 2018 – a trend it will continue with this year. So with the current WAM share price, this dividend gives the company a yield of 6.62%, or 9.46% grossed-up with full franking.

However, in saying that, WAM Capital’s share price remains well above its Net Tangible Asset (NTA) backing. WAM reported that WAM Captial’s NTA stood at $1.97 per share on 31 August. Today’s share price of $2.34 means you are effectively paying $2.34 for every $1.97 of assets, a premium of almost 19%.

The post Own WAM (ASX:WAM) Capital shares? Here’s what you’re invested in appeared first on The Motley Fool Australia.

More reading

• Wilson Asset Management (WAM) thinks these 2 top ASX shares are a buy
• The WAM Capital (ASX:WAM) share price is up 6% in a month. What’s next?

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. owns shares of and has recommended Idp Education Pty Ltd. The Motley Fool Australia has recommended carsales.com 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 Polynovo Ltd (ASX: PNV) share price is climbing during mid-afternoon trade following a burn study update from the company.

At the time of writing, the medical device company’s shares are up 1.57% to $1.94.

What did Polynovo announce?

According to the release, Polynovo advised that it has enrolled its first patient in the United States-based Biomedical Advanced Research and Development Authority (BARDA) funded burn study.

The trial spans across 20 United States and 5 Canadian burn centres for the clinical study of NovoSorb BTM. Polynovo aims for its NovoSorb BTM to be used as a standard of care in burn patients. Up to 150 people are to be enlisted.

It is estimated that the study will be completed in around 3 years, with BARDA funding $15 million towards the trial.

Polynovo managing director, Paul Brennan said:

This is an exciting milestone in a trial that when concluded will generate data to support a premarket approval application with the US FDA for an on-label claim supporting the use of NovoSorb BTM in full thickness burns. This will bring our US market in line with global markets where this claim is already established.

What is NovoSorb BTM?

NovoSorb BTM (Biodegradable Temporising Matrix) is a biodegradable synthetic polymer that is used to treat burns and other serious skin wounds. The polymer is applied to the trauma site of the skin, whereby the body begins the regeneration process in building new tissue. Eventually, the polymer is absorbed and excreted, leaving only biological material behind.

Polynovo share price summary

Over the past 12 months, Polynovo shares have lost around 10% in value. However, when looking at year-to-date alone, those losses are magnified by roughly 50%.

The company’s share price closed at a 52-week low of $1.91 yesterday. A far contrast from when its shares were trading above $4 in December 2020.

Based on today’s price, Polynovo presides a market capitalisation of about $1.28 billion and has approximately 661 million shares outstanding.

The post Why the Polynovo (ASX:PNV) share price is edging higher today appeared first on The Motley Fool Australia.

More reading

• Why the Polynovo (ASX:PNV) share price is sitting at a 52-week low
• The Polynovo (ASX:PNV) share price has halved this year. What’s going on?
• These were the worst performing ASX 200 (ASX:XJO) shares last week
• Why Cleanaway, IRESS, Omni Bridgeway, & Polynovo shares are dropping
• Which ASX 300 shares are leading the way as the top movers 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. owns shares of and has recommended POLYNOVO FPO. 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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