S&P/ ASX 200 closed the day’s trading in green at 6277.4, UP 0.4%. Below are four stocks that plunged on the Australian Securities Exchange (ASX) on 16th April 2019.
Blackmores Limited (ASX: BKL)
On 16th April 2019, Blackmores released financial performance for the quarter ended 31st March 2019. The company delivered a weaker Q3 performance; total profit for the first three quarters stood was reported at $44 million, down by 14% compared to the prior corresponding period (pcp), but the revenue of $460 million was up by 6% in the same time period. The profit for the current quarter was reported at $10 million which is down by 43% compared to pcp. Revenue was also down by 4%. The market capitalisation of the company is A$1.56 billion, and the stock has fallen by 1.6% , trading at A$88.30 on ASX at the close of market on 16th April 2019.
G8 Education Limited (ASX: GEM)
The company is in the consumer discretionary space and is a childcare operator. It provides quality care and educational facilities. Recently the company has issued 3,017,574 fully paid ordinary shares at a price of $3.1016 per share as part of Dividend Reinvestment Plan (2% DRP discount rate). The shares will carry no difference with the same existing class of shares. The company is also holding its annual general meeting (AGM) on 17th April 2019 at 11:00 AM (Brisbane time). The main agenda for the meeting is to seek shareholder approval to grant performance rights to Mr Gary Carroll, Chief Executive Officer and Managing Director. The market capitalisation of the company is A$1.51 billion, and the stock has fallen by 1.8% and is currently trading at A$3.240 on ASX as of 16th April 2019.
Beach Energy Limited (ASX: BPT)
Beach Energy is an ASX listed oil and gas exploration company and is the second largest oil producer in Australia. Key Petroleum Limited recently executed a Memorandum of Understanding between Key Cooper Basin Pty Ltd with Santos Limited and its relevant subsidiaries and subsidiaries of Beach Energy Limited for the processing of the gas from Key’s Tanbar Gas Project. Today the company has announced that 414,547 fully paid ordinary shares currently held under voluntary escrow will be released on 3 May 2019. The current market capitalisation of the company is A$4.9 billion, and the stock has fallen by 1.4%, closing the day’s trading at A$2.12 on ASX as on 16th April 2019.
Perpetual Limited (ASX: PPT)
Perpetual Limited is a financial services company which caters to its clients by providing services like financial consultation and many other investment products. Recently, the company announced quarterly fund management statement for the quarter ended 31st March 2019. The FUM stood at $27.4 billion which decreased by A$0.3 billion from the prior quarter. Net outflows for the quarter were $1.9 billion. Today, the company announced that it ceases to exist as substantial holder of GBST Holdings Limited (ASX: GBT) , effective 12 April 2019.The current market capitalisation of the company is A$1.92 billion, and the stock has fallen by 2% and is currently trading at A$40.31 on ASX as of 16th April 2019.
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