What is happening with Blue Sky Alternative Investments Ltd?

Blue Sky Alternative Investments Ltd’s (ASX: BLA) share price has bounced 15% today at the time of writing to $2.89 but is still down 55% in a month. Despite the bounce, as earnings for the next year are uncertain it is not the time to invest and if you are an investor you could consider selling some shares as the future is unsure. The market update by the company a few days ago revealed the withdrawal of earnings guidance for FY18 and Fee Earning Assets Under Management guidance for FY18 and FY19. Blue Sky is a private equity investor that takes long term stakes in companies.

On the other hand, Macquarie Group Ltd (ASX: MQG), operating in the same sector, reported a net profit of $2.6 billion for FY18 as at 31 March 2018, which was up 15% on FY17. The result was above forecasts, resulting in a share price gain since the announcement of 5% to $113.97, at the time of writing. As the majority of earnings are from overseas, the company benefits from a weaker dollar.

OUR #1 dividend pick to grow your wealth over the new financial year is revealed for FREE here!

Financial year 2018 is here and The Motley Fool's dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor Rosemary Steinfort has no position in any of the stocks mentioned. 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 Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.