Why Perpetual is among 4 shares at 52-week lows today

The IOOF Holdings Limited (ASX:IFL) share price printed a new 52-week low today.

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P / ASX200 (ASX: XJO) has tumbled 1.9% to a 52-week low of 5,571 points in a terrible start to the week for investors on the back of fears about falling house prices in Australia and geopolitical problems including Brexit and the US / China trade dispute.

In fact many well known shares are now at 52-week lows, so let's take a look at what might be sending them lower.

The Perpetual Limited (ASX: PPT) share price is down 4% today to hit a 52-week low of $32.12 and the shares are now down around 33% over just 2018. Perpetual's core business is the management of large-to-mid-cap Australian equities and as these fall in value so will its funds under management and base fees. Perpetual has also struggled to grow FUM organically via net inflows and its share price is likely to loosely shadow the direction of Australian equity markets that are now also at 52-week lows.

The Clydesdale & Yorkshire Bank (CYBG PLC/IDR UNRESTR) (ASX: CYB) share price hit a 52-week low of $3.21 this morning and is now down 44% over just the course of 2018. Its primary problem is concern that the UK government will fail to negotiate a Brexit deal with the European Union before a March 29, 2019 deadline. If no deal is agreed UK-focused banks and its economy could face big problems. Clydesdale Bank is also still paying regulatory penalties as the result of its previous mis-selling of insurance products to consumers.

The Catapult Group Ltd (ASX: CAT) share price hit a 52-week l0w of 97 cents today as technology and software-as-a-service stocks come under pressure across the board. Catapult shares are now down 42% over just 2018 despite the sports analytics group posting some reasonable growth in subscriptions and annualised recurring revenues. Its principal problem is managing costs, and the shares are not expensive on conventional valuation metrics compared to many of its more popular software-as-a-service peers.

The IOOF Holdings Limited (ASX: IFL) share price crashed to a new 52-week low of $4.20 today in losing another 7% of its value after a share price rout last Friday that saw it lose one third of its value in a single day. This is because the prudential regulator APRA is seeking to have IOOF's CEO and chairman disqualified from management positions in the regulated superannuation sector. Today, IOOF announced its existing CEO and chairman would "step aside" from their positions while the case is ongoing. IOOF has internally appointed an acting CEO and chairman in their place.

Motley Fool contributor Yulia Mosaleva has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Catapult Group International Ltd. 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.

More on Share Fallers

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why 29Metals, Brainchip, Platinum, and Premier Investments shares are falling today

These ASX shares are having a tough time on hump day.

Read more »

Man with his head in his head because of falling share price.
Share Fallers

Why 29Metals, Atlas Arteria, IDP Education, and Mineral Resources shares are falling

These ASX shares are having a tough time on Tuesday. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why ALS, EOS, NRW, and Patriot Battery Metals are dropping today

These ASX shares are starting the week in the red.

Read more »

A man looking at his laptop and thinking.
Technology Shares

Why are these ASX tech shares getting smashed today?

Owners of these two stocks are missing out today.

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.
Share Fallers

Why AGL, Brickworks, IGO, and New Hope shares are dropping today

These ASX shares are having a poor session. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Amcor, Arafura, Brainchip, and South32 shares are tumbling today

These ASX shares are having a tough time on hump day. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Aussie Broadband, Liontown, Metals Acquisition, and Seek shares are falling

These ASX shares are having a poor session. But why?

Read more »