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The All Ordinaries Index (ASX: XAO) has slipped more than 5% year to date, but there are still shares within the index that fundies recommend.

One such All Ords share is PSC Insurance Group (ASX: PSI), with one portfolio manager saying it’s a buy.

PSC shares are rising nearly 5% in today’s trade, outperforming the All Ords Index, which is currently up 0.2%

Let’s take a look at why this All Ords share is considered a buy.

What is it about this ASX All Ords share?

PSC Insurance operates multiple insurance services companies in Australia, the United Kingdom, and New Zealand.

QVG Capital portfolio manager Josh Clark recommends the PSC Insurance Group share price as a buy. Commenting on his reasons on Livewire, Clark said:

That one’s a buy. If you had a category of bottom drawer stocks, I’d pick that one for that.

You can sleep soundly at night with PSC Insurance, knowing that there’s a significant portion of insider ownership within the business that has a really prudent track record of capital allocation.

PSC achieved a record underlying earnings result in the 2022 financial year. Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) surged 30% to $93.5 million.

In the 2022 financial year, PSC made multiple acquisitions including Alliance Insurance Brokers and Alan Wilson Insurance Brokers in Victoria.

So far in FY23, the ASX All Ords share has taken over Charter Union Insurance Brokers in Hong Kong. On 4 November, PSC also advised it has signed binding transaction documents to acquire Ensurance UK Ltd.

Commenting further on why he likes the PSC Insurance Group share price, Clark said the company has achieved “something like an 18% earnings per share (EPS) compound annual growth rate over the last five years”.

Clark highlighted the company’s mergers and acquisitions (M&A) strategy has underpinned the company’s earnings results, adding:

And then M&A is the real big one. That’s how they’ve really managed to juice that earnings growth, by prudently acquiring and integrating, paying the right price for similar businesses and folding them in. So I think that one’s a buy.

PSC Insurance share price snapshot

PSC Insurance Group shares have climbed around 10% in the past year and 8% year to date.

For perspective, the All Ordinaries Index has lost nearly 5% in the past year.

PSC Insurance has a market capitalisation of about $1.8 billion based on the current share price.

The post Buy this ASX All Ords share to ‘sleep soundly at night’: fundie appeared first on The Motley Fool Australia.

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More reading

• 3 small-cap ASX shares to add to your portfolio right now: fundie

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 positions in and has recommended PSC Insurance Group. The Motley Fool Australia has recommended PSC Insurance Group. 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 has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Aristocrat Leisure Limited (ASX: ALL)

According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted their price target on this gaming technology company’s shares to $42.80. This is despite the release of a full year result that was slightly below its estimates. Goldman revealed that it remains positive on the company due to its top three spot in slot machine sales in the US, strong digital gaming offering, and launch into the growing iGaming market. The Aristocrat share price is trading at $36.50 this afternoon.

Seek Limited (ASX: SEK)

A note out of Credit Suisse reveals that its analysts have retained their outperform rating and $35.10 price target on this job listings giant’s shares. This follows the release of an update at the company’s annual general meeting which revealed that it is on course to achieve its revenue and earnings guidance for FY 2023. Credit Suisse was pleased with this and notes that the quality of Seek’s earnings is improving as it commands greater ad yields. The Seek share price is fetching $21.63 today.

Webjet Limited (ASX: WEB)

Analysts at Morgans have retained their add rating on this online travel agent’s shares with an increased price target of $7.20. According to the note, the broker was impressed with Webjet’s first half performance, noting that its result was ahead of expectations. Looking ahead, Morgans highlights that Webjet has plenty of market share to win over the coming years, which should underpin a strong earnings growth profile. Combined with higher margins and a much stronger balance sheet, it believes Webjet now deserves a PE rerating. The Webjet share price is trading at $6.09 on Friday.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs tips Webjet share price to keep rising
• 5 of the craziest things making news on the ASX this week
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• 3 ASX 200 shares that announced supersized dividends this week

Motley Fool contributor James Mickleboro has positions in SEEK 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 recommended SEEK 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 Nuix Ltd (ASX: NXL) share price is shooting the lights out, up 19.3% to 68 cents following the technology company’s annual general meeting (AGM) today.

By comparison, the S&P/ASX All Ordinaries Index (ASX: XAO) is up just 0.27% and the S&P/ASX 200 Information Technology Index (ASX: XIJ) is up 0.35%.

Today’s share price bounce is likely a result of the CEO reassuring shareholders that the company’s “transformation” was on track, with “preliminary evidence of improvement … in our results for the four months to October”.

Let’s see what the Nuix leadership had to say at today’s meeting.

FY23 trading update launches Nuix share price skyward

In his speech, Nuix Group CEO Jonathan Rubinsztein referred to what they’re calling Nuix 2.0, a “transformation” of the company that is designed to “drive a clear shift in results by August 2023”.

Rubinsztein said:

Annualised Contract Value (ACV) at the end of October was $169.5 million, up 4.6% from June of this
year.

Net dollar retention, another important indicator of success with our existing customer base, rose to
101.9%, compared to 96.8% in June…

Our customer relationships remain strong, with Churn at 5.5%, which is slightly higher than the
outcome of 5.4% at the full year result, however this is more than offset by the increase in upsell.

We are also seeing encouraging signs of net new customers, which is contributing to the lift in ACV.

It’s particularly pleasing to see these critical measures tracking positively at this early stage of our
refresh.

Rubinsztein said Nuix’s balance sheet has a cash balance of $40.5 million and no debt. Additional metrics for the first four months of FY23 were shown in a presentation.

Helping companies combat cyber attacks

Nuix has just released a data privacy solution that Rubinsztein says “is the first example of how we position Nuix innovation to customer needs”.

He said:

… I think we’re all aware of how critical Data Privacy has become to large organisations.

With the Nuix Data Privacy offering, customers can identify and manage sensitive customer data.

Our software not only identifies risks in privacy data, but helps to map and locate sensitive data, meet retrieval obligations for regulatory and other requests, defensibly delete and decommission data where necessary, and optimise processing.

Rubinsztein added that Nuix has many other cybersecurity products in the pipeline “such as Fraud, Inquiry-Readiness and Cyber Breach Response”.

Nuix share price down 76% in 12 months

Rubinsztein acknowledged that it “hasn’t been an easy year” for shareholders and “I would understand if you were concerned”.

But he encouraged shareholders to have faith in the changes being made in the business and the positive results seen so far in FY23.

He said he believed Nuix would become “an awesome purpose driven, profitable company.”

He concluded:

At its core, Nuix has the potential to be a truly great Australian tech success, one that is played out on a world stage, and it is my job — and my commitment – to help realise this potential.

The post Why is the Nuix share price eyeing a 20% jump on Friday? appeared first on The Motley Fool Australia.

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More reading

• Brokers name 3 ASX shares to buy today
• Why were 185 million new Sayona Mining shares just issued?
• Here’s the forecast for ASX 200 shares in 2023: UBS
• Outlook for Treasury Wine shares ‘is just phenomenal’: expert
• Why is this ASX 200 coal share crashing 9% today?

Motley Fool contributor Bronwyn Allen 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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ASX lithium fans might have noticed a new influx of Sayona Mining Ltd (ASX: SYA) shares hitting the market this morning.

The company issued a whopping 185 million new shares – valued at $44.5 million based on its 20-day volume weighed average price. That represents around 2% of the lithium explorer’s outstanding shares, as per ASX data.

So, what spurred the company to issue such a substantial parcel of stock? Keep reading to find out.

The Sayona share price is trading at 22 cents right now, 2.22% lower than its previous close. For comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.26% right now.

Sayona Mining just issued 185 million new shares

The Sayona share price is in the dumps on Friday. Its slump comes amid the latest on the mineral explorer’s recently announced acquisition.

That’s right, the newly issued parcel of shares was part of its purchase of 1,824 exploration claims over a major part of Canada’s Frotêt‐Evans Greenstone Belt.

The claims, covering a total of 985 square kilometres, were bought from Candian-listed Troilus Gold Corp. The ASX lithium favourite told the market of the acquisition yesterday.

In addition to the buy, Sayona will subscribe to around $5.3 million worth of Troilus’ stock. That will leave it with a 9.26% hold in its Canadian peer.

The newly purchased claims haven’t been extensively explored for lithium and are located nearby Sayona’s 60%-owned Moblan Lithium Project. They offer potential for extensions to the Moblan mineralisation as well as other regional targets.

That wasn’t the first word from the ASX company this week. It also revealed another acquisition and earn-in agreement and hosted its annual general meeting (AGM).

Sayona is joined in the red by many of its fellow ASX 200 lithium shares today. The Pilbara Minerals Ltd (ASX: PLS) share price is currently down 4.2%. Meanwhile that of Allkem Ltd (ASX: AKE) has slipped 2.4% and Core Lithium Ltd (ASX: CXO) stock is 2.3% lower.

The post Why were 185 million new Sayona Mining shares just issued? appeared first on The Motley Fool Australia.

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More reading

• ASX lithium shareholders rejoice! Expert tips lithium price to hit $100K
• Sayona Mining share price slumps despite ‘major acquisition’
• Can ASX lithium shares really keep dining out at these price levels?
• The future of ASX lithium shares: Are investors looking through rose-coloured glasses?
• Sayona Mining share price slides 7% despite acquisition news

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 Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is defying the dip in US markets overnight and marching higher.

In early afternoon trade the ASX 200 is up 0.23% to 7152 points.

Despite rising 5.6% over the past month, the benchmark index remains down 5.7% in 2022. The pressure over this calendar year has largely come from fast-rising interest rates following unexpectedly high and stubborn inflation.

That’s a look in the rear view.

Now, what can ASX 200 investors expect in 2023?

What’s the outlook for ASX 200 shares in 2023?

While stocks won’t go up or down in any kind of straight line, UBS believes the ASX 200 will be slightly higher at the end of 2023 than it is today.

UBS Australia equity strategist Richard Schellbach expects some of the forces that have been dragging on shares in 2022 will ease in the year ahead.

According to Schellbach (courtesy of The Australian Financial Review):

Even as the economy decelerates to a sub-trend pace of growth through 2023, we believe that an easing of many of the headwinds that have buffeted stocks through 2022 – input/energy costs, supply chain, labour shortages – can allow the S&P/ASX200 index to end 2023 at 7250.

That’s about 1.2% higher than the current level. Not blowing the roof off, perhaps, but still a positive move. And don’t forget, that figure doesn’t include any of the companies’ dividend payouts.

“Recessions are not an inevitable outcome of tightening cycles, and we believe history can repeat in 2023,” Schellbach said. He pointed to Australia’s GDP growth in 1995, which followed a year of sharp interest rate increases from the RBA.

He also expects ASX 200 shares will get a lift, saying earnings forecasts are likely to rebound after hitting a low in the February 2023 reporting season.

According to Schellbach:

This rebasing would allow earnings growth to resume, but only at a modest reset to the long run earnings growth rate of 5.5% which Australian stocks have trended at over the last two decades. Adjusting this path of earnings growth to the calendar year generates earnings growth of about 4% over 2023.

Then there’s the inflation bugbear, which Schellbach sees peaking in 4Q22. Hitting peak inflation historically bodes well for the ASX 200.

“Passing peak inflation will be key in allowing sectors exposed Real Estate and Retail to detach from negative macro headlines,” Schellbach said.

Happy investing!

The post Here’s the forecast for ASX 200 shares in 2023: UBS appeared first on The Motley Fool Australia.

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More reading

• Outlook for Treasury Wine shares ‘is just phenomenal’: expert
• Why is this ASX 200 coal share crashing 9% today?
• Considering CSL shares? Broker says this other ASX 200 healthcare share has 30% upside
• I’d use the Warren Buffett method to create a ‘best ASX shares to buy now’ list
• Guess which All Ords insider is selling a whopping $60m worth of their company’s shares

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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Treasury Wine Estates Ltd (ASX: TWE) shares are among a rare bunch trading in the green for the year so far — up 8% in 2022 and outperforming the S&P/ASX 200 Index (ASX: XJO) by a significant margin.

The ASX 200 is down 5.7% over the year to date.

The Treasury Wine share price cracked a multi-year high of $13.70 on Tuesday. The last time Treasury Wine shares were at this level was before COVID-19 in January 2020.

Today, Treasury Wine shares are changing hands for $13.49, up 0.37% for the day so far.

What’s boosting the Treasury Wine share price of late?

With no price-sensitive news out of Treasury Wine this month, that multi-year high might have been due to Prime Minister Anthony Albanese’s meeting with Chinese President Xi Jinping at the G20 in Bali.

The meeting in itself was significant after a couple of years of the ‘silent treatment’ from China, not to mention the trade sanctions imposed on many of our goods, including wine.

The market might have read a potential thawing in our relationship with China as good for exporters if sanctions are lifted.

Treasury used to export a lot of its wines to China, but this has all but ceased due to the tariffs.

What do the experts think?

According to The Australian, Tribeca’s Jun Bei Liu thinks the outlook for Treasury Wine, with or without an improved relationship between Australia and China, “is just phenomenal”.

Liu said:

Putting aside China, I think the outlook for [Treasury] is just phenomenal. The company is going to grow over 20 per cent in the next couple of years, just through the reopening … so it has that tailwind to really drive growth.

Liu notes that tensions with China resulted in a big share price fallback in 2020, making Treasury Wine a value buy.

At around $9 per share at the time, she said investors weren’t paying for brand loyalty or future demand for premium labels.

Treasury survived the China freeze-out by successfully establishing new export markets for its wines.

The team at Goldman Sachs are also backing the Treasury Wine share price for growth.

As my Fool colleague James reported this week, Goldman thinks the company is back on track to deliver strong earnings growth in the coming years.

Goldman said:

With proven redirection of Penfolds China volumes as well as refocusing Treasury Americas on premium/luxury, TWE is now re-entering a growth phase with a more diverse and defensive business.

We have increased our FY23-25e sales and NPAT by 1%-5% and 5%-13% and now expect the company to deliver ~16% NPAT 2022-25e CAGR.

The company is trading at a 12m forward P/E of 22.6x, vs our TP implied P/E of 26.3x.

Goldman has a buy rating on Treasury Wine with a 12-month share price target of $14.70.

The post Outlook for Treasury Wine shares ‘is just phenomenal’: expert appeared first on The Motley Fool Australia.

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More reading

• Why has the Treasury Wine share price jumped 5% in a week?
• Why did the Treasury Wine share price crack a new multi-year high on Tuesday?
• 3 ASX All Ords shares that racked up new 52-week highs this morning
• Brokers rate these blue chip ASX 200 shares as buys
• Morgans names 3 of the best ASX 200 shares to buy in November

Motley Fool contributor Bronwyn Allen 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 Goldman Sachs. The Motley Fool Australia has recommended Treasury Wine Estates 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 Coronado Global Resources Inc (ASX: CRN) share price is having a difficult finish to the week.

At one stage today, the coal miner’s shares were down a sizeable 9% to $1.86.

This makes the Coronado share price the worst performer on the ASX 200 index on Friday.

Why is the Coronado share price the worst performer on the ASX 200?

The good news for shareholders is that today’s decline has nothing to do with the coal price.

In fact, the NYMEX coal price rose overnight, leading to fellow coal miners New Hope Corporation Limited (ASX: NHC) and Whitehaven Coal Ltd (ASX: WHC) outperforming the ASX 200 index this afternoon.

So, why is the Coronado share price taking a tumble today?

This weakness has been driven by the coal miner’s shares trading ex-dividend this morning for its latest dividend.

When a company’s shares trade ex-dividend, it means that the rights to an upcoming dividend payment stay with the seller and don’t transfer to new buyers. As a result, a share will generally drop in line with the dividend to reflect this.

The Coronado dividend

At the end of last month, the company released its third quarter update and revealed that its year to date revenue was up 107.8% over the prior corresponding period to US$2,854 million.

This underpinned bumper cash generation and allowed the Coronado board to declare a special dividend of approximately 13.4 US cents per share. At current exchange rates, this represents a dividend of approximately 20 Australian cents per share, which equated to a 9.8% dividend yield based on yesterday’s close price.

So, if you take this 20 cents per share dividend out of the equation, the Coronado share price would actually be trading higher today.

Eligible shareholders can now look forward to receiving this special dividend next month on 12 December.

The post Why is this ASX 200 coal share crashing 9% today? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Dig this! Look how many of the top-performing ASX 200 shares today are miners
• Here are the top 10 ASX 200 shares today
• Here are the 3 most traded ASX 200 shares on Monday
• 4 ASX 200 shares trading ex-dividend 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 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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There are a number of S&P/ASX 200 Index (ASX: XJO) healthcare shares that we can pick from. CSL Limited (ASX: CSL) shares may be one of the most recognised companies on the ASX. But, Sonic Healthcare Limited (ASX: SHL) shares could be an even better choice.

Sonic Healthcare is not exactly a small-cap ASX share. According to the ASX, it has a market capitalisation of close to $16 billion.

The ASX 200 healthcare share describes itself as an “internationally renowned healthcare provider with specialist operations in laboratory medicine and pathology, radiology, general practice medicine and corporate medical services”.

Its main source of earnings comes from pathology. Sonic employs more than 1,800 pathologists and radiologists, and more than 14,000 medical scientists, radiographers, sonographers, technicians, and nurses.

Sonic Healthcare has operations in countries including Australia, New Zealand, the USA, Germany, and other European countries.

Expert sees an opportunity with this ASX 200 healthcare share

According to reporting by the Australian Financial Review, the broker RBC Capital Markets has increased its price target on Sonic shares to $43, up from $42, thanks to a positive trading update. That implies a possible rise of around more than 30% over the next 12 months.

That trading update showed two different sets of comparisons, which enabled investors to see how the company was trading.

Total revenue for the four months to October 2022 was $2.73 billion. This was down 11.7% year over year, but up 20.9% compared to the four months to October 2019 (pre-COVID times).

COVID testing didn’t exist in October 2019, but in the four months to October 2022, Sonic Healthcare generated $280 million of COVID testing revenue. That’s despite lockdowns being a thing of the past in the countries that it operates in. However, COVID testing revenue was 64.8% lower than in the four months to October 2021.

Sonic’s base business revenue was $2.45 billion in the four months to October 2022. This was a 6.7% increase year over year and an 8.5% increase compared to the four months to October 2019.

The numbers were more pronounced with operating profit, which Sonic explained was due to the fact that COVID testing – which saw a year-over-year decrease – utilises existing Sonic infrastructure, meaning it generated a higher profit on that revenue. Lower COVID testing meant considerably lower profitably. Fee revenue for each COVID test has also reduced.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the four months to October 2022 came to $621 million. This was a 37.3% decrease year over year, but a 32.7% increase compared to the four months to October 2019.

Expert commentary

The broker RBC Capital Markets said, according to the AFR:

Sonic Healthcare’s trading update for the 4 months to October 22 revealed the base business grew 6.7% (performing better than we expected) and is 7.8% higher than pre-pandemic levels.

However, the company’s margins compressed more than we anticipated. While we have had to cut our FY23 forecasts, we now expect Sonic Healthcare’s earnings to inflect in FY24 and those investors who have been waiting for positive earnings momentum can begin to re-evaluate the stock again.

Sonic Healthcare share price snapshot

While the ASX 200 healthcare share has dropped around 5% in the last week, it’s up approximately 3% over the past month.

The post Considering CSL shares? Broker says this other ASX 200 healthcare share has 30% upside appeared first on The Motley Fool Australia.

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More reading

• 3 key things I look for when buying ASX dividend shares
• Is a weak US dollar good for ASX 200 mining shares?
• 5 things to watch on the ASX 200 on Friday
• Is it finally safe to buy ASX shares now?
• What dragged on the Santos share price today?

Motley Fool contributor Tristan Harrison 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 CSL Ltd. The Motley Fool Australia has recommended Sonic Healthcare 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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For Australian investors, there are literally hundreds of shares on the ASX to choose from. Finding the right ones can be an understandably daunting task. And buying them at the right price can be even harder. So who better to turn to for advice than the legendary investor Warren Buffett.

Buffett is the CEO of his investing conglomerate Berkshire Hathaway Inc (NYSE: BRK.A)(NYSE: BRK.B). This company has run laps around the returns of the broader markets for decades now.

So today, let’s look at some pieces of Buffett wisdom that can help us create a ‘best ASX shares to buy now’ list. Our Foolish colleagues over in the US have a great list of Buffett quotes that we can draw from for inspiration.

So one of Buffett’s most important quotes is “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price”.

Buffett often talks about the ‘moats’ that his favourite companies possess. Just like the medieval fortification, an economic moat helps protect a company from usurpers. This moat can come in the form of pricing dominance, a strong brand, or the cost of switching to a rival product.

What does Warren Buffett look for in a ‘best share?

We can see this playing out in some of Buffett’s top holdings. Companies like the Coca-Cola Company, Apple and American Express have some of the strongest and most well-known brands in the world.

So our best ASX to buy now list should have companies that display this kind of resilience.

Think of the brand recognition of the Commonwealth Bank of Australia (ASX: CBA) across the country. Or the pricing power that Woolworths Group Ltd (ASX: WOW) has in selling food and household essentials. Or perhaps the cost of switching from Xero Limited (ASX: XRO)’s tax software to a rival.

All of these companies could well have the moats that it takes to be a ‘wonderful company’ in Buffett’s eyes.

But just finding a quality company is only half the battle. Buffett is also famous for waiting for the exact right moment to pounce.

As he once said, “A too-high purchase price for the stock of an excellent company can undo the effects of a subsequent decade of favourable business developments”.

Buffett loves to buy up shares when everyone else is selling, like say in a market crash. One of his most well-known sentiments is to be “greedy when others are fearful”.

He also says that these moments to be greedy are opportunities, but that “opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”.

So remember this advice next time there is a market downturn. It may be the best chance you ever get to purchase your favourite quality ASX shares on the buy list.

The post I’d use the Warren Buffett method to create a ‘best ASX shares to buy now’ list appeared first on The Motley Fool Australia.

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American Express is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Sebastian Bowen has positions in American Express, Apple, Berkshire Hathaway (B shares), and Coca-Cola. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, Berkshire Hathaway (B shares), and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long January 2024 $47.50 calls on Coca-Cola, long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on Apple. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Apple and Berkshire Hathaway (B shares). 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’s proving to be a rough day for All Ordinaries Index (ASX: XAO) share Cettire Ltd (ASX: CTT) after its founder and CEO was confirmed to have offloaded a massive chunk of the company’s stock.

Right now, the Cettire share price is down 11.9%, trading at $1.48. For comparison, the All Ords index is up 0.32% at the time of writing.

So, why has the company’s largest shareholder sold down their stake? Keep reading to find out.

All Ords stock Cettire falls as boss offloads 41 million shares

Cettire founder and CEO Dean Mintz has sold a near-$60 million stake in the online luxury goods retailer in a move that’s decimating its share price today.

The approximate 41 million share stake was offloaded in an underwritten block trade. The parcel represents 10.8% of the company’s issued shares.

Mintz pocketed $1.46 per share from the sale – marking a 13% discount on the company’s previous close. That leaves the total sale valued at around $59.8 million.

Despite parting ways with such a huge chunk of the All Ords constituent’s shares, the company’s boss still boasts a healthy 45.9% hold.

Commenting on the sale, Mintz said:

Cettire is in a very strong position with excellent momentum as demonstrated in the company’s trading update provided at the [annual general meeting] yesterday.

The share sale represents a relatively small portion of my shareholding in the company and enables me greater diversification, whilst increasing the free float and scope for Cettire shares to achieve inclusion in major indices over time.

Investors needn’t worry about any more selling for a little while. Mintz will escrow the rest of his Cettire shares until the company posts its half-year earnings in February.

The luxury retailer debuted on the ASX in December 2020. It offered shares for 50 cents apiece under its initial public offering (IPO).

The retailer announced its unaudited October sales had increased 82% year-on-year to reach $34.8 million yesterday. Its unaudited revenue also lifted 71% to $45.9 million, while its average order value jumped 13% to $839.

The post Guess which All Ords insider is selling a whopping $60m worth of their company’s shares appeared first on The Motley Fool Australia.

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• Why A2 Milk, Cettire, Lottery Corp, and Weebit Nano shares are rising
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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 recommended Cettire 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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