While the All Ordinaries (Index: ^AORD) (ASX: XAO) crumbled by 1% to 5,151.6 points after heavy selling of banks and resources shares, not all companies saw their share prices tumble into the red.
These 4 companies actually managed to see their share prices rise…
Mantra Group Ltd (ASX: MTR) saw its share price gain 6.4% to $4.50, as the hotels and resorts group continues to cash in on the tourism boom. The company operates 126 hotels with around 19,500 rooms and analysts expect earnings to grow by around 20% each year through to 2018, on the back of increasing tourism to Australia thanks to the lower Australian dollar. That’s also not to mention domestic travellers who may baulk at the low Aussie dollar and decide to travel domestically instead.
SKYCITY Entertainment Group Limited-Ord (ASX: SKC) share price gained 4.2% to $4.50, recovering all of yesterday’s fall. While a number of directors of the casino operator saw their shareholding increase under the company’s dividend reinvestment plan (DRP), CEO Nigel Morrison took the opportunity to sell 50,000 shares. Some investors don’t like to see senior executives sell shares, but Mr Morrison does still hold more than 1 million shares.
Sonic Healthcare Limited (ASX: SHL) saw its share price rise 3.5% to $18.80. The pathology and diagnostic imaging company may be benefitting from interest in rival Primary Health Care Limited (ASX: PRY). China’s Jangho Group has taken an 11% stake in Primary, and some investors believe that Chinese companies are taking a keen interest in Australia’s health care sector. Sonic’s share price has dropped from above $20 back in December 2015, after the government announced large cuts to subsidies for pathology and diagnostic imaging.
Aconex Ltd (ASX: ACX) saw its share price gain 4.1% to $6.04 – a substantial gain over their listing price of $1.90 in December 2014. The company provides collaboration software for the construction industry and recently announced a $96 million acquisition of a German cloud collaboration service Conject GmbH, as it looks to diversify and expand its offering. The company was also recently added to the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and its market cap has soared through the $1 billion mark.