LIC, AX1, JDO: Why these ASX All Ordinaries rose sharply yesterday

3 min read | May 12, 2022 08:37 AM AEST | By Ashish

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Highlights

The ASX All Ordinaries had a challenging session on Wednesday.

The index closed the session up just 0.26% to 7,304.40.

While a majority of shares traded weak, there were a few notable exceptions as well.

The Australian share market has traded on a muted note so far this week, negatively impacted by concerns arising out of interest rate hikes, surging inflation, and ongoing geopolitical tensions. On Wednesday, while the Australian shares traded on a muted note through the day, the benchmark ASX 200 index rose managed to end the session with a minor gain of 0.2%.

The ASX All Ordinaries also had a challenging day and closed the session up just 0.26%. While a majority of shares traded in the red, there were a few notable exceptions as well.

On this note, let’s discuss why these ASX All Ordinaries shares surged sharply on Wednesday:

Lifestyle Communities Ltd (ASX:LIC)

Lifestyle Communities provides resort style housing for individuals in their fifties and older. The company has been a known name in retirement village space and is based in South Melbourne, Australia.

Lifestyle Communities’ share price rose over 15% on Wednesday, hitting a high of AU$14.08. The stock closed at AU$13.96.

The share price possibly gained on news of insider buying as one of the directors of the company, Nicola Roxon, purchased 1,000 more Lifestyle Communities shares in an on-market trade. The transaction was valued at AU$12,050 on Wednesday.

Accent Group Ltd (ASX:AX1)

Accent Group is an investment holding company, which is engaged in retail and distribution of footwear and apparel businesses.

Accent Group’s share price rose over 6% on Wednesday, hitting a high of AU$1.40. The stock closed at AU$1.37.

While the company has not released any major price sensitive news to the ASX recently, one of the richest Australians, Brett Blundy has increased his stake in the firm. Blundy was reappointed as director in the company in 2022 after he resigned in 2020.

Judo Capital Holdings Ltd (ASX:JDO)

Judo Capital Holdings is an Australia bank with a focus on lending to small and medium enterprises (SMEs).

Judo Holding’s share price rose nearly 3% on Wednesday, hitting a high of AU$1.69. The stock closed at AU$1.62.

The company’s share price may have risen after it released its investor day presentation. Judo announced that it expected to meet its earlier given guidance for this financial year 2022.

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