On 15th April 2019, some stocks slipped in a single trading session on ASX. Let’s have a quick glance at three of them as follows:
Pendal Group Limited (ASX: PDL)
Pendal Group is a company from the financial sector. It is one of the largest ASX listed investment companies, with funds under management of $100.9 billion (as on 31st March 2019). It is a global investment management company and provides services like portfolio management and advisory services to diversified client base.
The company had released its funds under management (FUM) update on 12th April 2019, wherein the total FUM crossed $100 billion. Also, Pendal Australia received a performance fee of $2 million for the year ending on 30th June 2019, which will be precisely determined after the end of the period.
The company has a market capitalisation of around A$2.96 billion which took a hit today. On 15th April 2019, the company’s stock closed the trading session on ASX, 8.7% lower than its previous day’s close, which was at A$8.49, after recovering from the day’s low of A$8.42. This will reduce the YTD return of 21%, as noted on 12th April 2019.
Bellamy’s Australia Limited (ASX: BAL)
Bellamy’s Australia manufactures organic food and produces organic milk for the infants and children of young age.
In the 1HFY19 results, announced by the company on 27th February 2019, the company’s revenue decreased from $174.9 million in 1HFY18 to $129.6 million in 1HFY19. The gross profit also saw a decline from $63.9 million to $55.9 million, but the gross margins improved from 36.5% to 43.1% in the same period.
On 10th January 2019, the company announced that the Camperdown Powder Pty Limited had acquired a licence extension from the General Administration of Customs China. This licence grants the Camperdown with the legal permits for a facility, to manufacture infant formula for the purpose of exporting to Chinese region. Bal presently owns 90 percent beneficial interest in Camperdown (as announced on 15 January 2018).
The company has a market capitalisation of A$1.12 billion. On 15th April 2019, the stock fell by more than 5.6% and closed at A$9.31 after making an intraday low of A$9.29. The stock has fallen by more than 5% in the last 5 days, but still its YTD return stands at 30%.
Perpetual Limited (ASX: PPT)
Perpetual is an Australia based financial services company, and provide services like funds management advice, portfolio management services etc.
In March 2019, the company announced the opening of Perpetual Credit Income Trust’s, Initial Public Offering (IPO). Through this IPO, it aims to raise $150 million - $400 million, with additional right to accept oversubscriptions up to $40 million.
On 12th April 2019, the company announced its funds under management (FUM) update as of March quarter 2019. There was a decrease of $0.3 billion noted in the FUM during the March quarter. This was attributable to $1.9 billion of net outflows primarily from the institutional channel, which was offset by $1.6 billion market appreciation.
The company has a market capitalisation of A$2.01 billion. On 15th April 2019, the stock fell by more than 4.7% and closed at A$41.15, after making an intraday low of A$40.67. However, the YTD return of the company’s stock stands at a healthy 38.1%.
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