Why these 4 stocks were punished on the ASX today

The S&P/ASX 200 (Index:^AXJO)(ASX:XJO) trended higher despite heavy falls in shares of Slater & Gordon Limited (ASX:SGH), Liquefied Natural Gas Ltd (ASX:LNG), Ardent Leisure Group (ASX:AAD) and Santos Ltd (ASX:STO).

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sharemarket despair

On Monday, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) traded higher, despite heavy selloffs in a handful of prominent ASX stocks…

Slater & Gordon Limited (ASX: SGH) shares fell as much as 19.8% on the back of fresh growth concerns from analysts, who cited cash flow problems and an ambitious full-year profit guidance update. In fact, analysts from UBS were quoted in Fairfax as saying the company’s ability to meet full-year guidance would imply, “an incredibly strong second half.” Since acquiring the professional services division of troubled legal services firm, Quindell Plc, Slater & Gordon shares have been punished in 2015.

Liquefied Natural Gas Ltd (ASX: LNG) shares fell more than 10%. The prospective US LNG tolling and liquefaction facility owner has fallen more than 66% over the past year against a backdrop of falling oil prices. Last week, the company also announced a number of executive level changes.

Ardent Leisure Group (ASX: AAD), the owner of Dreamworld, White Water World, AMF and Kingpin bowling and more, fell as much as 7% today. Ardent Leisure did not release any market sensitive information aside from a change of director’s interest, which showed the company’s new CEO, Deborah Thomas, purchasing a modest amount of Ardent shares on the ASX. Ardent shares have fallen 13% over the past month.

Santos Ltd (ASX: STO) had another tough day on the market, falling 3.4%. Santos did not release any sensitive news today that could explain the falls, and crude oil prices rose 0.7% to $US44.48 per barrel overnight. Despite takeover rumours and the prospect of asset divestments, the market has heavily discounted shares of Santos over the past 12 months.

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Motley Fool contributor Owen Raskiewicz owns shares of Liquefied Natural Gas Limited and Slater & Gordon Limited. Owen welcomes your feedback on Google plus (see below), LinkedIn or you can follow him on Twitter @ASXinvest. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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