It was the best-performing stock on the S&P/ASX 200 Index (ASX: XJO) for the day.

The share price rise comes off the back of the company's half-year result for FY26, which it posted ahead of the ASX open on Wednesday morning.

It also follows news earlier this month that Tabcorp had approached Betmakers Technology Group Ltd (ASX: BET) with a potential takeover offer. To date, no formal offer has been made. Tabcorp has not made any statement about the discussions.

The price increase means Tabcorp shares are now 6.06% higher for the year-to-date and a massive 54.41% higher over the year.

What excited investors in Tabcorp's latest results?

For the six months ending 31st December 2025, the wagering and gaming business posted a modest 1% increase in its group revenue and a 14.3% increase in EBITDA, from the prior corresponding period (pcp). 

Net profit after tax (NPAT) was 61.5% higher which helped the company hike its unfranked interim dividend 50% higher to 1.5 cents per share. The registration date is the 3rd of March, with dividend shareholder payment scheduled for the 24th of March.

Tabcorp's net debt was $631.2 million at the end of the half, with the company saying its strong balance sheet put it in a good position to pursue growth opportunities.

The results easily surpassed analysts' expectations for half-year net profit. The team at Jarden said that the NPAT figure was a huge 34% higher than consensus estimates and that the unfranked dividend increase was also a positive surprise. 

What do analysts expect from the stock for 2026?

We'll likely see brokers confirm or adjust their outlook on Tabcorp shares in coming days. But at the time of writing, TradingView data suggests analysts are very bullish on the outlook for the stock.

Out of 12 analysts, 8 currently have a buy or strong buy rating on Tabcorp shares. The maximum target price is currently $1.20, which implies a 14.29% upside over the next 12 months. Although I wouldn't be surprised if this was raised following the company's result on Wednesday. 

The post Are Tabcorp shares a buy after soaring 24% following its half-year result? appeared first on The Motley Fool Australia.

Betmakers asked for its shares to be placed in a trading halt on Wednesday after the Australian Financial Review published an article suggesting that Tabcorp was considering a takeover bid for its smaller counterpart.

Betmakers said in a short statement to the ASX on Thursday:

BetMakers maintains an ongoing commercial relationship with Tabcorp, supplying wagering technology and content distribution services in support of Tabcorp's racing and media operations. BetMakers confirms that it was approached by Tabcorp and that preliminary and informal discussions have taken place regarding a potential change of control transaction. While those discussions were at an early stage and highlighted opportunities for BetMakers' wagering technology products, no formal offer was received and discussions have ceased.

Tabcorp has not made a statement about the discussions.

Betmakers shares fell 15.2% to 19.5 cents after returning to trade on Thursday, while Tabcorp shares were 2.6% lower at 86.7 cents.

Tabcorp is much larger than Betmakers, with a value of $2.03 billion as compared to Betmakers' value of $258 million.

Business travelling well

Betmakers recently reported positive numbers for the December quarter, with revenue of $22.9 million, up 14.1% on the previous corresponding period, and EBITDA of $2.7 million, a $3 million turnaround.

Betmakers Executive Chair Matt Davey said at the time:

The Q2 FY26 results underscore the consistent performance of the business in the last 12 months, delivering a $3.0 million increase in Adjusted EBITDA compared to the prior corresponding period. This structural improvement, which saw our gross margin expand to 66.4%, is a direct result of our disciplined focus on high-margin, technology-led revenue. Having successfully navigated the transition phase, the Company is now operating from a more resilient financial footing. Our focus is on accelerating growth by leveraging our core technology platform to secure new market leading customers globally.

The company said a key highlight during the quarter was the agreement it signed with global betting brand Stake in December.

The company said regarding the deal:

Under this multi-year contract, BetMakers will provide Stake with its market leading technology solutions, facilitating Stake's horse racing offering across various international markets. This partnership underscores the strength and scalability of our proprietary technology, as we support a high-volume, global operator in enhancing its product. The deal not only reinforces BetMakers' position as a preferred racing partner for global operators but also aligns with our strategic focus on high-margin, technology-driven revenue streams that leverage our extensive global racing rights and technology capabilities.

The post Betmakers confirms Tabcorp takeover approach appeared first on The Motley Fool Australia.

However, the stock traded modestly lower on Thursday, down 2.5% at the close, following its latest quarterly update.

So after the update, is there more upside ahead, or is the rally starting to run out of steam?

What did BetMakers report?

In its December quarter update (Q2 FY26), BetMakers reported revenue growth of 14.1% year on year, reflecting continued momentum across its digital wagering, content, and technology businesses.

The company also delivered adjusted EBITDA of $2.7 million, representing a meaningful turnaround from a loss in the prior corresponding period and marking the fourth consecutive quarter of positive adjusted EBITDA.

Margins continued to move in the right direction, with gross margin expanding to 66.4%, up from 61.6% a year earlier. Management attributed this improvement to the business's ongoing transition toward higher-margin, technology-led revenue streams. Operating cash flow was slightly positive in the quarter, and BetMakers finished December with approximately $30 million in cash, maintaining a solid liquidity position.

What else should investors know?

Operationally, the quarter was also notable for a series of high-profile commercial wins. BetMakers secured new or expanded agreements with major wagering operators, including Stake, PENN Entertainment, and CrownBet. While these deals reinforce the company's position as a global racing technology provider, they have not yet made a meaningful contribution to reported revenue. Management expects its financial impact to begin flowing through in the second half of FY26.

That timing likely explains Thursday's muted share price reaction. After a strong 12-month rally, some investors appear to be taking profits, while others are waiting for clearer evidence that recent contract wins will translate into sustained revenue and earnings growth.

Looking ahead, investors will be focused on whether growth can accelerate from here.

Foolish bottom line

The broader takeaway is that BetMakers looks like a stronger, more resilient business than it did a year ago. Revenue is growing, margins are improving, and profitability has returned on an adjusted basis. At the same time, expectations have risen alongside the share price.

Whether the rally continues will likely depend on execution over the next few quarters, particularly how quickly new customer agreements convert into recurring revenue and cash flow.

The post Up 64% in a year, can ASX small cap BetMakers keep rallying? appeared first on The Motley Fool Australia.

Under the agreement, BetMakers will deliver its RaceOdds+ solution to Stake to drive that company's global horse racing expansion, BetMakers said in a statement to the ASX.

The agreement is for an initial three-year period with a two-year extension option.

Full tech suite provided

The company said other details included Stake gaining access to "BetMakers' full pricing and trading capability, global racing content, the BetStream racing vision player, and the Racelab suite of products – Insights, Live, Stories and Informatics''.

BetMakers added:

Additionally, the agreement will see BetMakers' proprietary Global Tote Hub provide tote pool access to stake.com customers, allowing them to wager on a global wagering menu of bet types from the world's premier racecourses – highlighting a unique feature of BetMakers' RaceOdds+ product offering.

BetMakers said the contract terms included a combination of fixed and variable revenue, with the contract to go live in the second half of the financial year.

BetMakers Chief Executive Officer Jake Henson said the company was thrilled to team up with Stake.

They are one of the fastest growing wagering platforms globally, with a reputation for speed and innovation. Securing this agreement is a strong validation of the depth and quality of our RaceOdds+ product and the broader BetMakers global racing strategy. We are excited and confident that providing stake.com with our full suite of racing technologies, including pricing and trading, rightsholder content, global tote access, streaming and the Racelab portfolio, will enable them to deliver a world-class racing experience to their modern customer base.

The news follows BetMakers striking a major deal with CrownBet earlier this month. BetMakers shares were trading 5.7% higher at 18.5 cents early on Thursday.

The company was valued at $195.7 million at the close of trade on Wednesday.

Bad news for competitor

But while the news was positive for BetMakers, it came at a cost to fellow listed operator RAS Technology Holdings Ltd (ASX: RTH), which was previously providing its Complete Racing Solution to Stake.

RTH said its contract with Stake would not be renewed when the contract finished in May next year.

The company went on to say:

The non-renewal is not expected to have a material impact on RAS's financial performance in FY26. The Company maintains a strong pipeline of opportunities for FY27, including the recently announced deal to provide a complete racing solution to the LeoVegas Group, and remains confident in its growth trajectory.

RTH shares were 11.9% lower at 85 cents in early trade.

The post Gaming tech company's tie up with global operator Stake sends shares higher appeared first on The Motley Fool Australia.

The company said in a statement to the ASX that it had signed an exclusive five-year technology and services agreement with Betfair, "to deliver a full wagering stack for the development of CrownBet''.

As the company said in its statement:

Under the agreement, BetMakers will deliver its full wagering stack for CrownBet, including a fully customised deployment of the Company's Apollo wagering platform, trading and risk management, content engine, and core platform technology. The end-to-end solution positions BetMakers as the technology and operational backbone of the CrownBet offering from launch.

More wins on the board

BetMakers said it was the most significant commercial milestone for its Apollo platform to date, "and further validates BetMakers' strategy to provide a complete, vertically integrated B2B wagering solution to Tier-1 operators globally''.

The agreement also establishes a landmark alignment with Betfair and its parent company, Crown Resorts – one of Australia's most recognised entertainment and hospitality groups.

BetMakers Chief Operating Officer Martin Tripp said it was a major endorsement of the Apollo platform.

To be selected by Betfair to power the return of CrownBet demonstrates the scalability, performance and commercial flexibility of our technology stack. By combining our Apollo platform with deep industry expertise and talent within Betfair, we are confident we can deliver a market-leading wagering experience and help to position CrownBet as a formidable player in the Australian market.

BetMakers shares traded as high as 19.5 cents on the news before settling back to be changing hands for 19 cents, up 8.5% by mid-afternoon.

Building on early gains

BetMakers also this week said it had signed a three-year agreement with Penn Entertainment (NASDAQ: PENN) for the distribution of Penn's racing content.

The company said, in a broader market update, that it was "experiencing strong digital momentum with eight digital customers launched in the second quarter of FY26 and eight scheduled for the balance of FY26, supported by a further pipeline of additional growth opportunities globally''.

BetMakers said the Penn deal was expected to increase the company's EBITDA by about $1.2 million per year over the term of the contract.

BetMakers Chief Executive Jake Henson said the Penn deal, which expanded on an existing arrangement, was "a positive step for both parties, and we look forward to a successful and profitable partnership''.

BetMakers was valued at $195.7 million at the close of trade on Wednesday.

The post Why are BetMakers shares charging higher today? appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Betmakers Technology Group Ltd (ASX: BET)

The Betmakers share price is down 9% to 10.5 cents. This morning, the betting technology company announced the completion of a placement to sophisticated and institutional investors that raised $11.5 million. These funds were raised at a discount of 10 cents per share. The company advised: "Funds received from the Placement will be used to: Repay all outstanding debt; Fund content and access agreements, including payments in relation to New Jersey Fixed Odds; Fund the potential strategic acquisition of Las Vegas Dissemination Company, the only provider of pari-mutuel wagering services in Nevada; and Improve financial flexibility and working capital."

Cettire Ltd (ASX: CTT)

The Cettire share price is down 31% to 32 cents. Investors have been hitting the sell button today after the online luxury products retailer released a dismal trading update. Cettire revealed that its adjusted EBITDA is $0.5 million financial year to date. As a comparison, the company reported positive EBITDA of $12.1 million for the first half. And given that its EBITDA was negative $4.7 million during the third quarter, this suggests that Cettire has recorded a disappointing $6.9 million EBITDA loss for the first two months of the fourth quarter. Combined with its falling cash balance, investors appear concerned that Cettire could go the same way as rival Farfetch, which ended up in administration.

Johns Lyng Group Ltd (ASX: JLG)

The Johns Lyng share price is down 1.5% to $2.94. This appears to have been driven by profit taking following a strong gain on Wednesday. Investors were buying the building and restoration services company's shares after it received a non-binding takeover offer from Pacific Equity Partners (PEP). It has offered to acquire 100% of the issued shares of the company by way of a scheme of arrangement for an unspecified price. The company has granted due diligence to PEP.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is down 5% to $3.93. This appears to have driven by weakness in the lithium industry today. In addition, this morning, the lithium developer announced that its $196 million conditional debt commitment letter signed by the commercial bank group in December 2024 has been extended until September 2025. Vulcan's CFO, Felicity Gooding, commented: "The extension of the debt commitment letter will allow us to potentially include significant government funding in the financing package."

The post Why Betmakers, Cettire, Johns Lyng, and Vulcan shares are falling today appeared first on The Motley Fool Australia.

One of the ASX shares is taking a tumble on the news, while the other is soaring higher on Thursday. For some context, the All Ordinaries Index (ASX: XAO) is up 0.4% in afternoon trade.

Here's what's happening.

ASX share leaps 9% on growth outlook

The first ASX gambling share grabbing headline news today is BetMakers Technology Group Ltd (ASX: BET).

Shares in the betting technology company are up 9.1% at the time of writing, changing hands for 12 cents each.

This follows the release of BetMakers' half-year results for the six months to 31 December (H1 FY 2025).

The ASX share reported revenue for the six months of $41.4 million, down 5.5% from the prior half, and a gross margin of 60%.

While adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at a loss of $1.3 million, BetMakers noted this was an improvement on H1 FY 2024.

Investors look to be bidding up the BetMakers share price on a solid growth outlook. The company expects its EBITDA and operating cash flow trajectory to continue to improve in the second half of FY 2025. And it forecasts revenue growth for FY 2026.

BetMakers executive chair Matt Davey said:

Our new and upgraded technology suite is having a dual effect: it positions BetMakers at the forefront of global wagering, while delivering further efficiency gains, a combination that we expect to drive further improvements in the second half of FY25.

Which brings us to…

Gambling stock taking a tumble

Taking a tumble today is ASX gambling share BlueBet Holdings Ltd (ASX: BBT).

BlueBet shares were down a steep 9.9% in earlier trade today. But after some likely bargain hunting, shares have rebounded to 36 cents apiece at the time of writing, down 2.7%.

This follows on two pieces of big news.

First, BlueBet reported its H1 FY 2025 results today as well.

Highlights included a 116% year on year increase in turnover to $645 million. BlueBet achieved a gross win for the half of $91.3 million, up 128%, with the gross win margin increasing by 0.8% to 14.2%.

The net win margin increased by 0.1% from H1 FY 2024 to 10.4%. The ASX share saw its net win soar 120% to $67.4 million.

Commenting on the results, BlueBet CEO Andrew Menz said:

Our momentum has continued into the second half with our base business and the acquisition of TopSport presenting an attractive opportunity to accelerate our scale and to again deploy our repeatable integration and customer migration playbook.

So why is the ASX gambling share falling today?

With BlueBet reporting strong half-year results, why is the ASX share under selling pressure today?

Well, it may be related to the company's recent bid to acquire Pointsbet Holdings Ltd (ASX: PBH).

At the results release today, Menz said:

Our strategic consolidation of the Australian wagering market continues with our recent compelling offer for PointsBet, which is materially superior to the proposal recommended by the PointsBet board.

However, in another news release today, PointsBet rejected that offer, valued at between $1.02 and $1.09 per Pointsbet share, noting it did not appear to be superior to the prior takeover offer from MIXI.

PointsBet stated:

The PointsBet board considered the proposal and with the input of advice from the company's financial and legal advisers, the board determined that the proposal could not reasonably be expected to lead to a superior proposal to that announced earlier today from MIXI.

The post 2 ASX gambling shares making big moves on big news today appeared first on The Motley Fool Australia.

ASX small-cap shares represent young and growing companies with a market capitalisation of between a few hundred million and $2 billion.

Some analysts think the short-term future looks bright for small-caps after central banks around the world began cutting interest rates in 2024.

Indeed, the ASX small-cap shares index has lifted 6.5% in the past six months alone.

Small-caps tend to carry a fair bit of debt to fund their growth. So, rate cuts are especially beneficial to these young companies because they lower their cost of debt.

Economists expect the Reserve Bank of Australia to start cutting rates in February or May.

Meantime, here are three ASX small-cap shares catching the eye of professional brokers this week.

3 ASX small-cap shares tipped for growth

Humm Group Limited (ASX: HUM)

Shaw and Partners has commenced coverage of diversified non-bank financial services provider Humm with a buy rating and a 12-month target price of $1.

Humm is trading at 70 cents per share, down 2.11% on Thursday.

In a note published on asx.com.au, Shaw and Partners said its target price reflected an "undemanding" price-to-earnings (P/E) ratio of 5.2x its FY27 earnings per share (EPS) projection. 

The broker said:

Humm is currently trading at very attractive value – reflecting a PE of 4.0x FY26 and 3.3x FY27 EPS.

We consider that HUM has double-digit growth to FY27 as it emerges from its restructuring phase and enhances its core operations of commercial asset lending and unsecured consumer finance.

Shaw and Partners said Humm emerged from the pandemic era in good financial shape.

It has a "more focussed strategy, streamlined costs and [is] led by a new CEO".

The broker added:

The loan book is in solid shape with net credit losses in FY24 down to historic lows (1.8% of average net receivables.) Net interest margin also stabilised in FY24 at 5.5%. 

The broker said non-banks were continuing to take market share away from the major banks in the small-to-medium business lending arena.

Humm recently suspended buy now, pay later (BNPL) products in Australia that had become unprofitable amid higher interest rates, inflation, and new regulation.

The broker thinks the Australian business may achieve profitability in FY25.

Humm AU provides consumer finance for larger ticket consumer purchases such as home solar, hearing aids, dentistry, veterinary services.

Its lending products are distributed through merchants and practitioners.

FY25 will benefit from Humm AU's new, credit-regulated product, that can generate returns because it can charge interest and does not depend solely on consumer/merchant fees.

Humm AU has right sized its cost structure and credit quality ahead of FY25. 

Shaw and Partners predicts Humm's international business may break-even in FY25.

The broker said: "HUM's Ireland business is currently profitable, but Canada has been slower to ramp."

This ASX small-cap share has risen 42% in the year to date.

Strickland Metals Ltd (ASX: STK)

With a market cap of $196.5 million, Strickland Metals is technically an ASX micro-cap share, not a small-cap.

East Coast Research has recently initiated coverage on Strickland Metals with a 12-month target price of 28.2 cents. Strickland Metals is trading at 8.8 cents per share, down 1.12% on Thursday.

East Coast Research describes Strickland as 'a low-risk and high-potential' ASX gold mining share.

Analysts at the research company say:

STK is a developing gold and base metals exploration company with an inferred resource base of ~5.7Moz AuEq across the highly prospective and favourable mining jurisdictions of Serbia and Western Australia.

The company owns 100% of its assets, the flagship being the Rogozna project (Serbia) and the Yandal project (WA).

The regional geological settings enhance the attractiveness of STK as an investment opportunity.

Strickland's Rogozna Project in Serbia is located in a Tier-1 active mining and exploration jurisdiction.

The project spans 184 square kilometres and contains several unexplored prospects.

The reseach house notes:

The JORC-compliant inferred resources are derived from just two of the four drilled deposits.

The region's multiple mineralisation systems suggest significant resource upgrade potential.

Recent highgrade deposit hits (best Au-deposit hit by a junior ASX-listed miner in ~two years) indicate a strong probability of doubling the resource base.

Additionally, the region's well-developed infrastructure, the availability of a skilled workforce, and lower corporate tax rates (around 15%) further support investment in STK.

Strickland sold its Millrose Gold project to Australia's biggest listed gold miner, Northern Star Resources Ltd (ASX: NST) in 2023.

East Coast Research says the deal strengthened Strickland's balance sheet, enabling more aggressive spending on exploration activities.

According to a note published on asx.com.au, Canaccord Genuity has also just commenced coverage on this ASX micro-cap share.

It has a speculative buy rating on the stock with a 12-month price target of 16 cents.

Strickland Metals shares are down 12% in the year to date.

Betmakers Technology Group Ltd (ASX: BET)

Ord Minnett has begun coverage on this ASX technology stock with a speculative buy rating.

Betmakers has a market cap of $107 million. So, it is also an ASX micro-cap share rather than a small-cap.

The broker has given Betmakers a 12-month price target of 16 cents. The Betmakers share price is currently 11 cents, down 2.73% today and up 34% in the year to date.

In a new note published on asx.com.au, Ord Minnett says:

Over the past ~2 years, EBT has right-sized its cosdt base (from $92m to a <$60m guide), while we expect revenue growth will return from 2H25.

The company is also guiding to positive OCF from 3Q24 (we model 2Q25).

On this basis, and given the company trades on just ~1.4x FY26 EV/rev, we see now as an interesting entry point on a risk/reward basis.

The broker said its 'speculative' buy rating was due to some balance sheet concerns.

The post 3 ASX small-cap shares to buy now: brokers appeared first on The Motley Fool Australia.

In early trade, the ASX tech stock is up almost 13% to 13.5 cents.

This means that its shares are now up 67% since the start of the year.

Why is this ASX tech stock surging today?

The catalyst for today's strong gain has been the release of an update from the betting technology company in relation to the acceleration of its transformation strategy.

According to the release, BetMakers has announced several key initiatives designed to generate further operational efficiencies and further improve operating leverage.

This includes further reductions in staff costs, the centralisation of corporate functions for streamlined operations, and the upgrades of customers and products to its advanced Next Gen technology platform.

Management notes that these initiatives and the recent progress of its transformation strategy are expected to put the company in a position to achieve operating cash-flow break-even during the third quarter of FY 2025. After which, it expects to deliver positive operating cash flow for the six months ending 30 June 2025.

In addition, the company has strengthened its balance sheet further with a new US$3 million debt facility with Tekkorp Holdings, which is a company controlled by its chair, Matthew Davey.

This will support its transformation strategy, provide additional financial flexibility, and further bolster funding capacity for any future strategic initiatives.

It has an interest rate of 12% per annum, with interest to accrue daily. The company notes that interest will not be capitalised.

Trading update

The ASX tech stock has released a brief trading update with today's announcement.

Management revealed that it currently expects revenue in second half of FY 2025 to be higher than first half.

Commenting on today's update, the ASX tech stock's executive chair, Matt Davey, said:

I am excited to see the impact our transformation strategy is already having on the business, and importantly, that management have been able to accelerate this strategy.

We are extremely pleased with the technology upgrades and the benefits this is delivering through both performance and lower costs. Coupled with other cost reduction initiatives, we have a clear line of sight to profitability. Executing the new debt facility provides us with the added flexibility to implement some of these initiatives.

BetMakers is on a financial transformation journey, which is designed to deliver long term value for shareholders. We are making strong early progress in this endeavour.

The post Guess which ASX tech stock is jumping 13% amid 'financial transformation journey' appeared first on The Motley Fool Australia.

Most ASX investors like to see insiders and management own significant chunks of shares, and preferably add more over time. Conversely, investors typically don't like to see these insiders sell down their ownership of these companies, as it decreases their financial alignment with investors.

With this in mind, today, we'll discuss three ASX shares that have fortunately found themselves in the former scenario in recent weeks.

3 beaten-up ASX shares being bought by insiders

Betmakers Technology Group Ltd (ASX: BET)

First up is wagering technology company Betmakers. An ASX notice that was filed last week revealed that Betmakers president and executive chair, Matt Davey, made a series of purchases over 1 and 2 October.

These on-market purchases were done at a price of between 8 and 8.5 cents per share. They resulted in Davey increasing his stake in Betmakers by 2 million shares. These buys would have cost Davey roughly $166,500.

Davey, through a holding company called 'Tekkorp Holdings LLC', now owns 92 million Betmakers shares. That's in addition to another 5 million performance rights.

Clearly, Davey thinks Betmakets shares are looking cheap, given they have fallen more than 42% since May.

Megaport Ltd (ASX: MP1)

Next up, let's talk about another cheap ASX share in tech stock Megaport. Megaport has also had a rough trot of late, with this company's shares down more than 50% since March.

However, one director seems to have taken notice. An ASX filing reveals that Megaport chair and non-executive director, Melinda Snowden, acquired 3,000 Megaport shares on 1 October in an on-market buy. Snowden picked up those 3,000 shares for an average price of $7.53 each, meaning she spent a total of $22,590.

This takes Snowden's total position to 11,000 shares, which would be worth around $81,840 at the current share price of $7.44.

Fletcher Building Ltd (ASX: FBU)

Finally, let's talk about building materials company Fletcher Building. Fletcher is another ASX share that many investors might consider cheap today. That's because this ASX stock has dropped a painful 33.6% over 2024 to date.

So Fletcher investors might be buoyed by news that non-executive director Sandra Dodds has been taking advantage of the cheap ASX shares. Dodds bought an additional 10,000 Fletcher Building shares in an on-market transaction on 2 October this month.

Dodds paid $27,500 for this parcel of shares, which brings her total holdings to 25,000 shares. At current pricing, that total stake would have a value of $73,250.

The post 3 cheap ASX shares being bought by insiders appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Betmakers Technology Group Ltd (ASX: BET)

The Betmakers share price is down 14% to 12 cents. This follows the release of the betting technology company's quarterly update. Betmakers reported a 4.1% decline in revenue to $22.3 million. This was driven by soft conditions in the Australian wagering market. It highlights that the quarter was a challenging period for Australian operators as a result of the competitive landscape coupled with regulatory and taxation headwinds. This led to an underlying EBITDA loss of $2.5 million for the three months.

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down 8% to 28 cents. Investors have been rushing to the exits following the release of another abject update from the semiconductor company. Brainchip pulled in just US$90,000 in cash receipts for the three months, which is less than some bakeries pull in. And those bakeries probably don't report a cash outflow of US$4.4 million a quarter. In addition, investors may be alarmed by how a $500 million company named its appearances on podcasts as one of its most notable achievements during the three months. All eyes will be on the company next month when it holds its annual general meeting and faces a second strike to its remuneration report.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 3.5% to 14 cents. This has been driven by the release of the lithium miner's quarterly update. Core Lithium reported quarterly spodumene concentrate production of 24,927 tonnes but only shipped 10,199 tonnes. The latter is down from 30,718 tonnes in the previous quarter. The company ended the period with 19,756 tonnes of spodumene concentrate and 20,000 tonnes of lithium fines available for sale. Management advised that while mining activities have been suspended, it will continue to process its ore stockpiles until the middle of the year.

Megaport Ltd (ASX: MP1)

The Megaport share price is down 4% to $13.75. This is despite the leading network as a service (NaaS) solutions provider upgrading its earnings guidance this morning. Megaport now expects FY 2024 EBITDA to be in the range of $56 million to $58 million. This is up from $51 million to $57 million. It will also mean a 177% to 187% increase on FY 2023's numbers. Whilst this is very strong, investors may have noted that the company's EBITDA has fallen 7.3% quarter on quarter.

The post Why Betmakers, Brainchip, Core Lithium, and Megaport shares are sinking today appeared first on The Motley Fool Australia.

This has led to both ASX shares rising strongly this week.

Big news from these betting ASX shares

BlueBet shares rocketed 30% on Wednesday before being slammed into a trading halt.

The company acknowledges that this was likely due to the leaking of its merger plans with rival Betr. In its response to a price query request from the Australian stock exchange, BlueBet said:

Yes. BBT confirms that, at the time of receipt of the price and volume query from ASX, BBT was aware of information concerning it that had not been announced to the market which, if known by some in the market, could explain the recent trading in its securities referred to in the ASX letter. This information related to BBT's proposed acquisition of NTD Pty Ltd's (ACN 658 859 262) (betr) wagering business and the associated equity capital raising proposed to be conducted by BBT.

The official details of the merger plans have now been released.

BlueBet has agreed to acquire Betr's wagering business in an all-scrip deal, which it believes will create a leading Australian online wagering company.

It notes that its larger and more competitive combined business is expected to reach monthly EBITDA profitability in the first half of FY 2025 and be EBITDA profitable for the full year.

BlueBet will acquire Betr by way of an asset purchase that will see the issue of approximately 265.4 million fully paid ordinary shares, equating to ~56.9% of its shares on issue.

Though, this is before taking into account the issuance of shares under a $20 million placement that has just been announced. It aims to raise those funds at 21 cents per new share.

The proceeds will be used to fund operational and strategic growth initiatives of the combined business and one-off synergy realisation and transaction costs.

What about Betmakers?

Betmakers is also impacted by this ASX merger news.

According to a separate announcement, in light of its proposed takeover, Betr has agreed to pay outstanding amounts owed to Betmakers.

BetMakers' CEO, Jake Henson, said:

BetMakers is pleased with the agreed outcome between the parties. We are satisfied with the terms to recover outstanding amounts owed to BetMakers by betr. In addition, we are content with the agreement on the ongoing terms that are a result of betr entering into a new transaction. We wish the betr team all the best in its new venture (should it proceed) and will continue to be supportive wherever we can along that path.

Henson also believes that the agreement leaves the company better placed for the future. He adds:

The executed agreement places BetMakers on a much stronger footing going forward, strengthening our cash position, and relieving the Company of a significant resource commitment, both now and into the future. This provides the ability to further reduce our overall cost base and the opportunity to redeploy key technology and development personnel to expedite the NextGen roll-out for clients globally, which will unlock additional efficiencies, significant savings and an improved product offering for BetMakers' customers.

The post 2 ASX betting shares making big news this week appeared first on The Motley Fool Australia.

Well, quite simply, it means a number of professional traders think the share price is going to fall.

This prediction could be based on a number of factors. Perhaps operational issues within the business. Perhaps plain old investor exuberance that has pushed the price up too much.

So, they short-sell the stock, which means they place a bet that the share price will fall.

This strategy is only available to professional traders and sophisticated investors.

If you're holding some ASX shares with nice capital gains, it may be helpful to monitor their short positions.

If you see a consistent increase, that will tell you that the pros think the price is going to fall from here.

And you can do with that information what you wish.

The Australian Investments and Securities Commission (ASIC) makes it easy for us to monitor short positions.

ASIC publishes a daily report with the exact percentage of shares on issue that are shorted for all ASX shares.

To give you a guide, a short position of 7% to 10% is considered high.

Another thing the short report can tell you is when the pro traders are closing their short positions.

This typically means they think the share price isn't going to fall from today's level. So, they start buying the shares on-market to close out their bets.

But a word of warning here.

If the short positioning on an ASX share is falling, that doesn't necessarily mean the pros think the price will rise from here.

Again, you can use this information as you wish. For example, reduced short positions could signal a good time to buy more shares in a company you believe in for dollar-cost averaging.

With all that said, let's take a look at six ASX shares that have significantly declining short positions.

To do this, we've used the final daily ASIC report for each of the past five quarters to identify the trends.

Block Inc CDI (ASX: SQ2)

The Block share price closed the session on Thursday up 1.78% at $115.68 per share.

The buy now, pay later stock is up 25.19% in 2023 and up 11.2% over the past 12 months.

The short positioning on Block shares has dived from 10.24% this time last year to 0.94% today.

Zip Co Ltd (ASX: ZIP)

The Zip share price closed the session on Thursday up 5.81% to 46 cents per share.

Zip shares are down 18.75% in 2023 and down 70% over the past 12 months.

The short positioning on Zip shares has reduced dramatically only in recent months.

The short position was 10.06% on the last trading day in the March quarter. It's almost half that today.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price just hit a new 52-week high and remains the most shorted of all ASX shares.

The short position at 9.85% is high, but it's about 40% lower than where it was this time last year.

As my colleague Sebastian points out, Flight Centre may end up in a short squeeze. This happens when short sellers are forced to close out their positions because they appear to have it wrong.

In a squeeze, lots of short sellers close their positions (thus, buy shares) on-market at the same time. This can force the share price up further.

This may well be happening now, given the company's positive update and increased earnings guidance last week.

Betmakers Technology Group Ltd (ASX: BET)

The Betmakers share price closed the session on Thursday up 8.82% to 19 cents per share.

The ASX tech share is down 34% in 2023 and down 64% over the past 12 months.

The short positioning on Betmakers has reduced by about two-thirds over the past year.

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price closed yesterday's session up 2.13% to $4.80 per share.

The ASX share is up 13% in 2023 and up 3.2% over the past 12 months.

Kogan.com Ltd (ASX: KGN)

The Kogan share price closed yesterday's session up 3.9% to $6.65 per share.

The online ASX retail share is up 83.7% in 2023 and up 41.5% over the past 12 months.

For regular insights on short positions, my colleague James reports the top 10 most shorted ASX shares every week.

The post 6 ASX shares that short sellers are racing to close their positions on appeared first on The Motley Fool Australia.

The gains come as the company updates the market on its strategic operational restructure – expected to put it onto the path to profitability.

Let's take a closer look at the moves the company is making on the back of a wide-ranging operational review.

What's going right for the BetMakers share price today?

The BetMakers share price is the All Ordinaries Index (ASX: XAO)'s biggest gainer after the company forecast "significant operation overhead reductions and savings across the business".

To realise that, the company will slash over 120 jobs, saving more than $20 million.

It's the result of an operational review, undergone over the past four months, on which the company provided an update today. It follows numerous board and management changes, announced in January.

Today's release states:

The operational restructure has been made possible by streamlining and consolidating key software
offerings and leveraging technology monitoring and reporting capabilities.

This in turn, has allowed the company to streamline its operational infrastructure.

It now expects its annual staff and operating overheads to drop from $91.5 million in the first half to around $70 million from the first quarter of the next financial year.

Meanwhile, the number of employees at the company is set to fall to around 440 by the first quarter of financial year 2024. That's down from 568 as of 31 December 2022.

The global efficiency program is forecast to come at a cost of $2 million to $2.5 million.

What did management say?

Commenting on the news driving the ASX share's gains today, BetMakers CEO Jake Henson said:

BetMakers is committed to providing long-term value to shareholders and this restructuring is an essential step towards achieving that goal.

The changes made aim to provide the business with a clear path to profitability while also providing a more streamlined operating structure to maximise future growth opportunities.

For our customers, who are at the core of our value creation process, we are committed to delivering best-in-class levels of service and quality. The investments in our technology and the extended rollout of our platforms and products into all regions both domestically and globally will support this ongoing commitment.

BetMakers share price snapshot

Today's gains haven't quite been enough to boost the BetMakers share price back into the longer-term green.

The stock is still 46% lower than it was at the start of 2023. It has also fallen 69% over the last 12 months.

The post Why did the BetMakers share price just gain 24%? appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) continues to be the most shorted ASX share despite its short interest easing again to 11.1%. Short sellers appear to believe the company could fall short of expectations due to weaker revenue margins.
• Core Lithium Ltd (ASX: CXO) has short interest of 10%, which is up slightly week on week. This seems to have been driven by a bearish outlook for lithium prices.
• Zip Co Ltd (ASX: ZIP) has short interest of 10%, which is up marginally week on week. This may be down to concerns that the buy now pay later provider won't be able to achieve its profit goals. Though, recent updates appear to demonstrate that Zip remains on course to do so.
• Megaport Ltd (ASX: MP1) has seen its short interest ease to 9.2%. The shock departure of its CEO and weaker operating trends may be behind this.
• Liontown Resources Ltd (ASX: LTR) has short interest of 8.7%, which is up week on week. Project cost blow outs and lithium price weakness appear to be behind this.
• Sayona Mining Ltd (ASX: SYA) has 8.7% of its shares held short, which is down week on week. Sayona Mining is yet another lithium share on the list amid falling prices.
• JB Hi-Fi Limited (ASX: JBH) has seen its short interest rise to 7.6%. This may be due to concerns over how consumer spending will fare in the coming quarters.
• Brainchip Holdings Ltd (ASX: BRN) has 7.3% of its shares held short. Short sellers will have been celebrating after this meme stock dropped to a 52-week low last week. It faces a near impossible task of competing against companies that spend billions on R&D each year.
• Betmakers Technology Group Ltd (ASX: BET) has seen its short interest ease to 7.3%. This betting technology company may have been targeted due to competition and cash burn concerns.
• Pointsbet Holdings Ltd (ASX: PBH) is back in the top ten with short interest of 7%. As with Betmakers, competition and cash burn concerns appear to be why short sellers are targeting this sport betting company.

The post Here are the 10 most shorted ASX shares this week appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share even though its short interest eased week on week to 11.3%. Short sellers may have concerns over revenue margin headwinds.
• Megaport Ltd (ASX: MP1) has seen its short interest jump to 10.2%. Slowing growth and the shock departure of its CEO has been weighing on this network as a service provider's shares.
• Betmakers Technology Group Ltd (ASX: BET) has seen its short interest ease again to 10.2%. Competition and cash burn concerns have been weighing on its shares.
• Core Lithium Ltd (ASX: CXO) has short interest of 9.9%, which is up week on week. Falling lithium prices seem to be behind this.
• Zip Co Ltd (ASX: ZIP) has short interest of 9.9%, which is up week on week. Short sellers seem to be doubting Zip's ability to achieve its profitability goals. Though, management appears confident it will get there as planned.
• Sayona Mining Ltd (ASX: SYA) has 8.9% of its shares held short, which is down week on week. Short sellers appear to believe the lithium industry is overvalued as a whole.
• Liontown Resources Ltd (ASX: LTR) has short interest of 8.2%, which is down week on week. Cost blow outs at the Kathleen Valley Lithium Project and lithium price weakness are likely to be behind this.
• Brainchip Holdings Ltd (ASX: BRN) is back in the top ten with short interest of 7.6%. Short sellers don't appear to believe this struggling semiconductor company warrants such a lofty valuation given its lack of revenue and intense competition from companies that spend billions on R&D each year.
• JB Hi-Fi Limited (ASX: JBH) has seen its short interest rise to 7.1%. This could be due to fears over the impact of the cost of living crisis on consumer spending.
• Nextdc Ltd (ASX: NXT) has short interest of 7.1%, which is up slightly week on week. This may be due to concerns that the tough economic environment could delay major contracts.

The post Here are the 10 most shorted ASX shares this week appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share despite its short interest easing to 11.8%. Revenue margin headwinds may be causing concerns.
• Betmakers Technology Group Ltd (ASX: BET) has seen its short interest ease slightly to 11.2%. This may be due to competition and cash burn concerns.
• Sayona Mining Ltd (ASX: SYA) has 10.4% of its shares held short, which is down slightly week on week. Falling lithium prices have been weighing on the sector.
• Core Lithium Ltd (ASX: CXO) has short interest of 9.7%, which is down week on week. The sustained weakness in spot lithium prices appears to be spooking investors.
• Zip Co Ltd (ASX: ZIP) has short interest of 9.3%, which is up week on week. This may be down to short sellers doubting Zip's ability to achieve its profitability goals.
• Megaport Ltd (ASX: MP1) has seen its short interest ease to 9%. Short sellers will have been pleased to see this network as a service provider's shares sink last week after the shock exit of its CEO.
• Liontown Resources Ltd (ASX: LTR) has short interest of 8.5%, which is up week on week again. This appears to be due to major cost blow outs at the Kathleen Valley Lithium Project and lithium price weakness.
• Pointsbet Holdings Ltd (ASX: PBH) has returned to the top ten with short interest of 7.2%. Concerns about the sports betting company's cash burn could be behind this.
• JB Hi-Fi Limited (ASX: JBH) has arrived in the top ten with 7% of its shares held short. This may be due to fears over the impact of the cost of living crisis on consumer spending.
• Nextdc Ltd (ASX: NXT) has also entered the top ten with short interest of 6.8%. There may be fears that the economic environment could delay major contracts for this data centre operator.

The post Here are the 10 most shorted ASX shares this week appeared first on The Motley Fool Australia.

It's often said that the leadership of a business can sell shares for many reasons – tax, buying a property, and so on. But there's only one reason that they buy shares on the market – they think they're good value.

So, let's have a look at some of the businesses that have received backing in the form of directors buying shares recently.

Rural Funds Group (ASX: RFF)

Rural Funds is a real estate investment trust (REIT) that owns a variety of farm properties around Australia and leases them to largely blue-chip tenants.

Over the past six months, Rural Funds shares have dropped 18%. Since the end of May 2022, the All Ords ASX share has fallen around 30%.

Managing director David Bryant, one of the largest shareholders of Rural Funds, recently increased his holding of Rural Funds shares on 2 March 2023. Bryant bought another 230,000 Rural Funds shares at an average price of $2.19 per unit.

This brought his total holding to 16.94 million shares after that investment worth around $500,000.

Regis Healthcare Ltd (ASX: REG)

Regis Healthcare is one of the largest aged care providers in Australia.

There has been substantial pressure on the sector in recent years, particularly with the impacts of the COVID-19 pandemic. COVID-19 costs amounted to $13 million before tax in the first half of FY23.

Since the start of 2023, Regis Healthcare shares have dropped around 17%. The All Ords ASX share is down around 27% over the past year.

Director Sally Freeman was the latest leadership figure to snap up some shares. Freeman bought 30,000 shares for a total cost of $46,542. That works out to be an average of $1.55 per share, which is close to where the price is at the time of writing.

Betmakers Technology Group Ltd (ASX: BET)

Betmakers describes itself as a wagering technology and data partner for "some of the world's most recognised and responded bookmakers and rights holders". It says that it offers the most complete wholesale racing wagering solution in the world.

Matthew Davey is the executive chair and president of the business.

In early March 2023, Davey purchased a total of three million shares across three on-market trades. The entity he's involved with, Tekkorp, invested $611,144 for an average price of 20.4 cents per share.

This brought Tekkorp's total shareholding of the All Ords ASX share to 108,500,000 shares. Certainly, Davey is a large shareholder in the business.

The post 3 ASX All Ords directors buying up their company shares recently appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) has returned to the top of the chart after its short interest rose to 12%. Short sellers don't appear to be giving up on Flight Centre despite its return to form in FY 2023. Revenue margin headwinds may be a cause for concern.
• Betmakers Technology Group Ltd (ASX: BET) has seen its short interest ease slightly to 11.6%. Competition and cash burn concerns could be weighing on this betting technology company's shares.
• Sayona Mining Ltd (ASX: SYA) has 10.7% of its shares held short, which is flat week on week. There are fears that lithium prices have now peaked and are about to decline materially.
• Core Lithium Ltd (ASX: CXO) has short interest of 10.1%, which is up week on week. As with Sayona Mining, continued weakness in spot lithium prices appear to have spooked investors.
• Megaport Ltd (ASX: MP1) has seen its short interest fall again to 9.3%. Short sellers have been targeting this network as a service provider after it reported softening operating trends with its results.
• Zip Co Ltd (ASX: ZIP) has short interest of 9.1%, which is up strongly week on week. Short sellers appear to be doubting this buy now pay later provider's ability to achieve its profitability goals.
• Liontown Resources Ltd (ASX: LTR) has short interest of 8.1%, which is up week on week. Concerns over material cost blow outs at the Kathleen Valley Lithium Project have been weighing on sentiment.
• City Chic Collective Ltd (ASX: CCX) has jumped into the top ten with short interest of 7.3%. This plus sized fashion retailer's abject performance and inventory management are likely to be behind this short interest.
• Lake Resources N.L. (ASX: LKE) has 6.9 % of its shares held short, which is flat week on week. Doubts over this lithium developer's technology and project funding are reasons why one short seller is targeting Lake.
• Vulcan Energy Resources Ltd (ASX: VUL) has short interest of 6.8%, which is down slightly week on week. This also appears to be down to lithium prices being tipped to fall materially in the next 18 months.

The post Here are the 10 most shorted ASX shares this week appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Betmakers Technology Group Ltd (ASX: BET) has become the most shorted share on the Australian share market despite its short interest easing slightly to 11.8%. This high level of short interest appears to have been driven by competition and cash burn concerns.
• Flight Centre Travel Group Ltd (ASX: FLT) saw its short interest fall meaningfully to 11.4%. With its shares up strongly this year, some short sellers appear to have been closing positions in a hurry.
• Sayona Mining Ltd (ASX: SYA) has 10.7% of its shares held short, which is up week on week. This seems to have been driven by fears that lithium prices have now peaked.
• Core Lithium Ltd (ASX: CXO) has short interest of 9.9%, which is flat week on week. Continued weakness in spot lithium prices appears to have spooked investors.
• Megaport Ltd (ASX: MP1) has seen its short interest fall to 9.4%. This network as a service provider appears to have been targeted after reporting softening operating trends with its results.
• Zip Co Ltd (ASX: ZIP) has short interest of 7.7%, which is up week on week again. This buy now pay later provider's shares took a tumble last week following the release of its half-year results. Short sellers appear to believe it will struggle to achieve its profitability goals.
• Liontown Resources Ltd (ASX: LTR) has short interest of 7.7%, which is down week on week. Major cost blow outs at the Kathleen Valley Lithium Project have been weighing on sentiment.
• Pointsbet Holdings Ltd (ASX: PBH) has 7.1% of its shares held short, which is down week on week. This appears to be due to competition and cash burn concerns.
• Lake Resources N.L. (ASX: LKE) has 6.9 % of its shares held short, which is down sharply week on week. Lake Resources has come under-fire due to doubts over its technology and project funding.
• Vulcan Energy Resources Ltd (ASX: VUL) is the fifth lithium share in the top ten with short interest of 6.9%. With lithium prices tipped to fall materially over the next 18 months, there may be concerns that this Germany-based developer could miss out on the sky high prices.

The post Here are the 10 most shorted ASX shares this week appeared first on The Motley Fool Australia.