Four ASX shares that are not letting that hold them back are listed below. Here's why they are racing higher:

Graincorp Ltd (ASX: GNC)

The Graincorp share price is up almost 6% to $8.08. This morning the grain exporter upgraded its earnings guidance for FY 2022. For the 12 months ending 30 September, Graincorp now expects underlying EBITDA to be in the range of $680 million to $730 million (from $590-$670 million) and underlying net profit after tax in the range of $365 million to $400 million (from $310-$370 million).

Imugene Limited (ASX: IMU)

The Imugene share price is up 10% to 29.7 cents. This follows news that the biotech company has dosed the first patient from the third cohort in the Checkvacc study at the City of Hope hospital in the US. The aim of this study is to activate the immune system of cancer patients to treat and eradicate tumours.

iSelect Ltd (ASX: ISU)

The iSelect share price has rocketed 73% higher to 27.75 cents. Investors have been buying this price comparison website operator after it accepted a takeover offer from Innovation Holdings Australia – the owner or rival website www.comparethemarket.com.au. The iSelect board is recommending shareholders vote in favour of the 30 cents per share offer at an upcoming scheme meeting.

Mayne Pharma Group Ltd (ASX: MYX)

The Mayne Pharma share price is up 6% to 36 cents. This morning this pharmaceutical company announced the sale of its Metrics Contract Services business to Catalent for cash consideration of US$475 million (~A$679 million). Allowing for reinvestment needs, the net proceeds from the sale will be used to repay the syndicated debt facility and to return surplus capital to shareholders.

The post Why Graincorp, Imugene, iSelect, and Mayne Pharma shares are racing higher appeared first on The Motley Fool Australia.

In early morning trading, the iSelect share price is up 75% to 28 cents.

The iSelect board is unanimously recommending that shareholders vote in favour of the deal.

The offer has come from Innovation Holdings Australia (IHA), which owns www.comparethemarket.com.au.

IHA is also an investment of the international private investor group, Reef Investment Consortium.

iSelect announced it has entered into a Scheme Implementation Agreement before the market open today.

IHA already holds 26% of iSelect shares. It proposes to acquire all other shares by way of a scheme of arrangement.

What's the offer to iSelect shareholders?

IHA is offering to buy iSelect at a price of 30 cents per iSelect share held. The iSelect share price closed yesterday's session at 16 cents.

In its statement, iSelect pointed out that the offer represents an 87.5% premium to that closing price.

The deal is subject to an independent analysis to ensure the deal is in the best interests of shareholders. It will also need approval from the Australian Competition and Consumer Commission.

iSelect anticipates scheduling a shareholder vote in November.

Major shareholders back the buyout

Major iSelect shareholders Thorney Investment Group and Microequities Asset Management Group Ltd (ASX: MAM) are in favour of the deal.

Thorney is a private investment group run by stock picker Alex Waislitz. It owns 14.34% of the iSelect shares on issue and Microequities Asset Management owns 9.5%.

iSelect shareholders do not need to take any action yet. They will receive a scheme booklet in October.

What did management say?

The Chair of iSelect, Brodie Arnhold, said: "The Scheme provides an opportunity for shareholders to realise a significant premium to market value for their shares and provides the certainty of an all-cash offer."

If all conditions are satisfied, iSelect expects the scheme to be completed between December this year and March 2023.

iSelect will release its FY22 full-year results during earning season on Tuesday 23 August.

The post iSelect share price explodes 75% on takeover news appeared first on The Motley Fool Australia.

The Motley Fool chats with fund managers so that you can get an insight into how the professionals think. In this edition, SG Hiscock portfolio manager Rory Hunter recalls the faith he had in one ASX share that was never repaid.

Looking back

MF: Is there a move that you regret from the past? For example, a missed opportunity or buying a stock at the wrong timing or price.

RH: Plenty. I'd actually say the opportunities that you don't end up buying, that end up generating significant returns, are probably almost the hardest to stomach. 

We'd like to think that we manage the risk in the portfolios with positioning but, on the flip side, it's hard to stomach when you like a stock and you don't pull the trigger. All the best portfolio managers are the ones that are always ready to pull the trigger. 

But I'd say in terms of investments that I've made that have been big mistakes, possibly iSelect Ltd (ASX: ISU), which would have been about 3 or 4 years ago now. 

I remember looking at the business and seeing that there was margin compression, because their revenue was shifting away from the life insurance business, which was the highest margin segment. I was convinced that they could generate enough volume in other segments to actually still grow overall profit, despite that margin compression. 

The reality is they didn't grow volumes enough. That was one mistake. But the other mistake was that whenever you see margin compression in a business, it's very rare that you see the share price continue to perform, because investors just ascribe another multiple to the business. So it's very hard for the business to actually grow a profit and the share price to perform. 

But also, in the face of that, you get multiple compression. In the face of multiple compression, as I pointed to earlier, you've got to grow profit at an extraordinary rate, just to keep the share price at a relatively elevated level. That was a big mistake and we lost a lot of money in iSelect.

I try to make sure that when it comes to actually buying businesses, as soon as we like something, we get it worked on as quickly as possible, because speed to market is a major advantage in this space, if you've got it. And that speaks to why we don't run investment committees at SGH. Yeah, we very much think that you back the team, and you back the research and the management who are willing to do that. Speed to market is a big advantage.

MF: Especially in those smaller cap companies, it really can make a huge difference, can't it?

RH: Without a doubt. It's a thing that we love about this space, that there's so much imperfect pricing. You don't actually have to dig that far below the surface, to find it. 

There's just so many opportunities out there in that universe. Well, in the small cap space, it's almost 2,000 stocks.

The post Crikey, I really regret holding this ASX share appeared first on The Motley Fool Australia.

The company offers comparison service for consumers to get the best rates on insurance, utilities and personal finance products.

Below we take a look at the its results for the 2021 financial year ending 30 June.

iSelect share price falls on FY21 results

• Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) (including JobKeeper) of $20.8 million, up from $13.7 million in FY20
• Underlying Revenue of $111 million, down from $123 million in the prior year
• Underlying net profits after tax (NPAT) of $7.1 million, up from $3.1 million in FY20
• Reported NPAT loss of -$5.1 million, compared to a loss of -$43.5 million in FY20

What happened during the reporting period for iSelect?

iSelect reported significant impacts from COVID-19 during the course of the year, with fluctuating consumer demand hitting its leads and revenue. It said this was most noticeable in the Energy, Telco and Car Insurance segments, with declines of 40-50% recorded.

The company launched new partnerships with NewsCorp and Seven Affiliates Sales, promoting the iSelect and Energy Watch brands.

FY21 also saw iSelect representation of major health insurers grow to 9, following Bupa's arrival in the marketplace. Meanwhile, Aussie Broadband became a new partner for the company in its Telco segment.

iSelect highlighted management's rollout of its 5-year strategy, i26, focused around the Consumer Data Right (CDR) legislation, passed in 2019. It said, "The introduction of CDR will empower consumers to compare and switch products and service providers."

As at 30 June, it had a consolidated cash balance of $9.4 million and no debt.

What did management say?

Commenting on the results of the year gone by, iSelect's CEO, Warren Hebard said:

During FY21, we have invested in our data platforms and focused on growing our iSelect account base, which is now up to 1.1 million customers. We will continue this ahead of the arrival of Open Energy in FY23, when we will look to leverage these investments to deliver new and innovative digitised journeys for our customers, providing a frictionless, always-on comparison experience.

What's next for iSelect?

Looking to the year ahead the company cautioned that the pandemic is continuing to cause market volatility. iSelect expects this will impact its performance in the first half of FY22.

Taking note of increased competition entering the space, Hebard said:

Our focus in FY22 will be on executing operationally within our core business whilst progressing our i26 strategy. Our first phase of i26 will be leveraging our Energy expertise in preparing for Open Energy, building out our new verticals and continuing to invest in our marketing partnerships and brand.

The iSelect share price is up 65% over the past 12 months.

The post iSelect (ASX:ISU) share price slides 5% as investors mull FY21 results appeared first on The Motley Fool Australia.

Rising 11.1% to hit a new 52-week record of 40 cents a share, the iSelect share price has since slightly retreated to 38.5 cents per unit – still up 6.94%.

Let's take a closer look at today's news.

What's the deal?

In today's statement to the ASX, iSelect declared its subsidiary, iSelect Health Pty Ltd, added Bupa to its list of health insurance providers that offer their services on its website.

With a minimum term of 12 months, iSelect is entitled to an unspecified premium for all Bupa sales that originate on its website. According to the statement, this is the first time Bupa and iSelect have partnered together. The company called today's announcement a "significant milestone".

Investors have welcomed today's news, judging by the iSelect share price movement.

According to the website Comparing Expert, Bupa is Australia's second most popular health insurance provider, with 25.4% market share. In total, 53% of Australians have some form of general health cover.

Management commentary

iSelect CEO Warren Hebard said

Expanding our range of providers is essential to ensure we remain Australia's go-to destination for comparing and saving across insurances, utilities and personal finance. Our highly-trained consultants are ready to compare our new broader range, and we look forward to building and growing our new relationship with Bupa.

Bupa's domestic health insurance director Chris Carroll added:

We know people buy health insurance in different ways and this partnership means more customers can have access to Bupa products and gain peace of mind from our cover.

We want to make health insurance as easy, convenient and accessible as possible, and partnering with iSelect ensures our policies are in front of people when they are looking to take out cover for themselves and their families.

iSelect share price snapshot

Over the past 12 months, the iSelect share price has increased 51% to its current price of 38.5 cents. Only 2 years ago, however, iSelect shares were trading for 62.5 cents each, representing a 38.4% fall since then. It should be noted the COVID-19 pandemic began within this period, with significant impacts on the healthcare sector.

iSelect has a market capitalisation of $84 million.

The post iSelect (ASX:ISU) share price rockets 11% to new 52-week record. Here's why appeared first on The Motley Fool Australia.

At the time of writing, the iSelect share price is swapping hands for 31 cents, up 3.3%.

Special dividend and dividend program

Investors appear to be pushing iSelect shares higher today, taking up the company's latest dividend offer.

According to the release, iSelect state that working capital outflow associated with trail revenue is continuing to decrease. The positive trend is expected to remain for the foreseeable future.

In light of this, the board evaluated a number of capital management options over the past year, including acquisition targets. However, after careful consideration, iSelect has determined to reward shareholders with a special dividend. In addition, a regular dividend program will follow in FY22.

iSelect has agreed to pay a special unfranked dividend of 1 cent per share on 22 June 2021. The ex-dividend date (in which you must own the shares) is 1 June 2021.

In addition, the company noted that it will continue a regular dividend program at an initial price of 1 cent per share every half-year. The dividends will be unfranked. This will occur until a sufficient franking balance can be accumulated. The first payment in the program will take place in March 2022.

So how did iSelect perform in the first half of FY21?

It was a mixed result for iSelect over the six-month period ending 31 December 2020.

Revenue fell to $51.8 million, a 12% drop on the prior corresponding period. This was primarily due to the COVID-19 impact on consumer demand, and operating model changes in Q4 FY20.

Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at $13.2 million, an increase of 724% over H1 FY20. Management focusing on cost has underpinned the strong performance. This saw a 15% reduction in overhead expenses.

Net profit after tax (NPAT) jumped to $5.5 million, compared to a $2 million loss over the same time last year.

About the iSelect share price

In the past 12 months, the iSelect share price has been a decent performer, rising close to 50%. Year-to-date, however, the company's shares have only managed to gain around 8%.

iSelect has a market capitalisation of roughly $67 million, with 217.8 million shares on issue.

The post iSelect (ASX:ISU) share price edges higher on special dividend appeared first on The Motley Fool Australia.

In November, the Australian Competition and Consumer Commission (ACCC) started investigating the activities of iSelect shareholder Innovation Holdings Australia (IHA).

The potential problem was that IHA, via a complex web of entities, also owns CompareTheMarket.com.au, which provides similar services to iSelect.

Both brands are rivals in the competitive comparison site sector, allowing Australians to contrast different energy, insurance and financial services providers.

IHA had already bought up 29% of iSelect shares over 2 years without notifying the ACCC. The watchdog was prompted into action after it was tipped off about an additional 6% purchase.

ACCC commissioner Stephen Ridgeway said at the time that such arrangements could "give rise to competition concerns".

'Unlikely to substantially lessen competition'

In good news for IHA and current iSelect shareholders, the ACCC on Thursday announced it would not oppose the 6% buyup.

The commission concluded that a 35% stake would be "unlikely to substantially lessen competition" in the comparison site market.

"Other routes to market exist for providers – including other comparison websites," Ridgeway said on Thursday.

"There are also government websites available to consumers such as www.energymadeeasy.gov.au and www.privatehealth.gov.au."

The iSelect share price is up 5.45% at the time of writing, trading for 29 cents.

iSelect owns the comparison engines iselect.com.au and energywatch.com.au. IHA is associated with the insurance brand Budget Direct, as well as the CompareTheMarket.com.au site.

When the ACCC investigation first started in November, a CompareTheMarket (CTM) spokesperson denied that it was owned by IHA.

"CTM is owned by Financial Holdings Australia (FHA), which has shareholders in common with IHA, but the two are separate entities," she told The Motley Fool.

"The group structure is convoluted, but while Compare the Market and Innovation Holdings Australia share common investors, it is not accurate to state that CTM acquired shares in iSelect."

The post Why the iSelect (ASX:ISU) share price is rocketing 5% Thursday appeared first on The Motley Fool Australia.

The watchdog was prompted into action after learning Innovation Holdings Australia (IHA), would soon own 35% of all iSelect shares.

According to the ACCC, Innovation Holdings, via related entities, owns CompareTheMarket.com.au, which offers very similar services to iSelect.

Both iSelect and CompareTheMarket.com.au allow consumers to compare insurance, energy and financial products online.

"We are considering whether the completed and proposed acquisitions are likely to substantially lessen competition," said ACCC commissioner, Stephen Ridgeway.

"iSelect is a competitor to Innovation Holdings in offering comparison services for a range of financial and energy products to consumers and minority stakes held between competitors can give rise to competition concerns."

Never told ACCC it was slowly buying iSelect shares

Innovation Holdings had already slowly acquired iSelect shares over the past two years, resulting in a 29% stake. None of those transactions were reported to the ACCC.

The commission is now starting a probe as Innovation Holdings proposes to acquire another 6%.

"Companies acquiring strategic or potentially controlling stakes in a competitor will continue to attract ACCC scrutiny," Ridgeway said.

A spokesperson for CompareTheMarket.com.au (CTM) denied that Innovation Holdings' shares equated to CompareTheMarket.com.au having a stake in iSelect.

"CTM is owned by Financial Holdings Australia (FHA) which has shareholders in common with IHA but the two are separate entities. The CTM business operates independently of FHA and IHA," she said.

"The group structure is convoluted but while Compare the Market and Innovation Holdings Australia share common investors, it is not accurate to state that CTM acquired shares in iSelect."

Notwithstanding this, the spokesperson said it welcomed the ACCC's enquiries.

"Any step that helps consumers' ability to make more informed choices about how they spend money is a good thing."

iSelect acknowledged to the ASX on Friday morning that ACCC is making enquiries regarding IHA's shareholdings.

"iSelect wishes to confirm that there is no current negotiations with IHA," stated the board.

The ACCC is calling for submissions from the public on the matter by 20 November. Correspondence should be directed to mergers@accc.gov.au.

Innovation Holdings, through a complex group of entities, also owns insurance brand Budget Direct, and also underwrites policies for third parties like ING, Qantas Airways Limited (ASX: QAN) and Virgin Money UK (ASX: VUK).

iSelect runs the comparison sites iselect.com.au and energywatch.com.au. Its new chief executive, Warren Hebard, only started this week.

iSelect shares were down 1.79% on Thursday, to sit at 28 cents at market close.

The post ACCC investigates shareholder of ASX company appeared first on The Motley Fool Australia.

After a turbulent year, October comes as a welcome reprieve for shareholders, with the iSelect share price up 7% so far this month. Like most ASX shares, iSelect was pummelled by the COVID-19 market panic.

The iSelect share price fell 37% from 21 February through to 23 March and has regained 41% since that low, leaving shares down just 6% year-to-date. That closely mirrors the performance of the All Ordinaries Index (ASX: XAO), also down 6% since 2 January.

What does iSelect do?

Based in Melbourne, iSelect's services offer Australians the ability to compare and purchase insurance, personal finance products and various utility subscriptions. The company also owns the comparison website, Energy Watch. The company's stated goal is "to make Australians' lives easier by saving them time, effort and money".

Atop its Melbourne operations, iSelect has support offices in Fiji and Philippines. 

Why is the iSelect share price on the move?

This morning iSelect announced the appointment of a new permanent CEO, alongside providing a trading update.

Warren Hebard, the company's current chief marketing & commercial officer, replaces Brodie Arnhold, who was appointed as interim CEO in April 2018.

iSelect chairman Christopher Knoblanche thanked Mr Arnold for "his hard work and commitment through what has been a challenging period for the company". He added that the board "believes that the time is now right for Brodie to complete a handover to a permanent CEO".

Warren Hebard said:

Having worked closely with the entire executive team on the development of the FY21 strategy, I am confident that the plan we have in place is the right one. Brodie hands over a business that is on track to deliver significantly improved profitability in FY21 and is well-placed to return to growth in FY22.

The company also reported that the changes it had made to its operating model in the fourth quarter of 2020 were "showing positive early signs for the business" in the current quarter.

iSelect posted first quarter FY21 earnings before interest, taxes, depreciation and amortisation EBITDA of $8.1 million, compared to $1.7 million in the same quarter last year. The company noted it had received $3.4 million in JobKeeper payments during the past quarter, but that this came to an end in October.

The company's cash balance at 30 September was $12.5 million, up from $10.5 million on 30 June.

With a new permanent CEO and its Melbourne headquarters slowly emerging from lockdown, iSelect's share price is one to keep an eye on.

The post The iSelect (ASX:ISU) share price was on the move today. Here's why. appeared first on The Motley Fool Australia.

Two notices that have caught my eye today are summarised below. Here's what these fund managers have been buying:

BWX Ltd (ASX: BWX)

A notice of initial substantial holder reveals that Eley Griffiths Group has been buying this personal care products company's shares over the last nine months. According to the notice, the investment management company has been building its position between 23 October and 31 July. During this time it has acquired 6,852,439 shares, which gives it a 5.04% stake.

Eley Griffiths appears to have been buying BWX shares for its EGG Small Companies Fund. As of the end of July, this fund has delivered an average return of 8.24% per annum over the last five years. Judging by its purchases, it appears to believe the addition of BWX could help its market beating run continue.

iSelect Ltd (ASX: ISU)

A notice of change of interests of substantial holder shows that Forager Australian Shares Fund (ASX: FOR) has been topping up its position in this price comparison website company. The notice reveals that Forager has picked up around 5.5 million more iSelect shares between 7 June and 3 August. Its biggest purchase came on the latter date, when it picked up 5 million shares for a total of $1,026,628. This equates to an average of 20.5 cents per share. That purchase lifted its holding to a total of 24,053,874 shares, which equates to an 11.04% stake.

The iSelect share price has been an incredibly poor performer over the last few years, but it appears as though Forager believes the tide is turning. Though, with the fund manager's key Australian Shares Fund lagging the market by an average of 5.7% per annum over the last five years and 16.6% per annum over the last three years, I wouldn't be in a rush to follow its lead just yet.

The post Fund managers have been buying BWX and this ASX share appeared first on The Motley Fool Australia.

Two notices that have caught my eye this week are summarised below. Here's what these fund managers have been buying:

iSelect Ltd (ASX: ISU)

A change of interests of substantial holder notice reveals that Thorney International and its subsidiary Thorney Technologies Ltd (ASX: TEK) have been buying more of this comparison website operator's shares. According to the notice, the fund manager has recently added a further ~4.2 million shares to its holding, lifting its total to just under 24.1 million shares. This represents an 11.04% stake in iSelect.

The iSelect share price fell to a record low earlier today and is now down by a massive 74% since this time last year. Judging by its purchases, it would appear as though analysts at Thorney believe this selloff has been overdone and left its shares trading at an attractive level.

Kogan.com Ltd (ASX: KGN)

According to a notice of initial substantial holder, FMR LLC, better known as Fidelity Investments, has been buying this ecommerce company's shares. The notice reveals that Fidelity has been adding to its existing position since 23 June and now owns a total of 5,353,238 shares. This is the equivalent of a 5.08% stake in the company.

Over the last 30 days, Fidelity picked up a total of 2,559,265 shares. It was buying as low as $14.80 in June and as high as $17.94 last week. Given that the Kogan share price is currently changing hands for $17.41, it would appear as though this fund manager still sees value in the company's shares at the current level.

The post Fund managers have been buying these ASX tech shares appeared first on The Motley Fool Australia.

The price comparison website operator's shares sank 4% lower in morning trade to 59 cents, stretching their year to date decline to a disappointing 22%.

Why is the iSelect share price sinking lower today?

Investors have been heading to the exits in their droves after the company advised that the Australian Competition and Consumer Commission (ACCC) has commenced proceedings against it in relation to commercial disclosures and statements that were displayed on its energy comparison site.

Management advised that the company takes its obligations under Australian Consumer Law very seriously and has processes in place to ensure compliance.

It also believes its energy comparison service strengthens competition, ethically and in accordance with industry practice. The matter is now before the Federal Court, so the company is unable to make any further comment until proceedings conclude.

Last month Amaysim Australia Ltd (ASX: AYS) advised that proceedings brought by the ACCC against its Click Energy business had been resolved.

These proceedings were in relation to statements about discounts and savings of its energy products that the ACCC considered to have contravened the false or misleading conduct provisions of the Australian Consumer Law.

Click Energy ultimately agreed that it contravened Australian Consumer Law and the Federal Court ordered it to pay a penalty of $900,000.

If iSelect is given a similar fine then it wouldn't be the end of the world, but it would be a bit of a blow to its bottom line in FY 2019.

Should you invest?

I'm not convinced that iSelect is over the worst of its issues yet, so I intend to stay clear of its shares for the time being.

In the meantime, I would sooner buy small cap tech share such as Citadel Group Ltd (ASX: CGL). I believe it has strong growth potential and is trading at an attractive level right now.

The post Why the iSelect share price is sinking lower again today appeared first on The Motley Fool Australia.

That's fair enough as the professionals should be doing the most in-depth research and often have the advantage of being able to meet with company management teams to get an even better read on the likely direction of the business.

One prominent fundie in the media is Steve Johnson of Forager Funds Management that runs an ASX-focused equity fund.

Forager is a 'value investor' which traditionally describes an investment style popularised by U.S. academic and investment guru Ben Graham who even taught the 'world's most successful investor' in Warren Buffett.

Graham essentially taught that professional investors should value stocks and then look to buy them at a discount or with a "margin of safety" to their exchange traded price as that would offer the surest chance of positive returns.

Value investing also traditionally favours buying "cheap" stocks, rather than "growth" stocks, where it's harder, inter alia, to find a margin of safety.

Unfortunately though traditional "value investing" on the ASX has proven tough going for many professional fund managers on the ASX over the last few years with the likes of Forager and Perpetual Limited (ASX: PPT) failing to beat the market.

For example the Forager Australian Share Fund has returned 6.16%pa (net of fees) over the last 3 years (as at its January 2019 report) while the benchmark S&P All Ords. Accum. Index has returned 10.01%pa.

In fairness though "since inception" the Forager Australian Share Fund is around 3.7% ahead of the index.

So let's take a look at its top 5 ASX share holdings as at January 2019.

• Macmahon Holdings Limited (ASX: MAH) is a mining and engineering services business forecasting "adjusted" full year EBIT between $70 million to $80 million, with net debt between $25 million to $30 million. The stock is flat over the past year.
• iSelect Ltd (ASX: ISU) saw its H1 FY 18 revenue fall 8% to $74.3m and produced an interim statutory net loss of $6.9 million.
• Enero Group Ltd (ASX: ENO) is a digital media and public relations aggregator that just reported a half year profit of $6m on revenue of $108m.
• Thorn Group Ltd (ASX: TGG) is expecting a full year loss of $6m. The equipment leasing and lending group has seen shares fall steadily since 2015.
• MMA Offshore Limited (ASX: MRM) just reported a half-year normalised loss of $14.6 million on revenue of $119.5 million. It provides offshore engineering services, the stock has gone from $2.18 in March 2014 to 16 cents today.

Foolish takeaway

The surest way to make money in the share market is to charge others to manage their money, failing that you can either manage your own money, or pay others to manage it.

I'd suggest learning to manage your own money and appreciating that in the share market today growth and value are indivisible, while share prices over the medium term will always follow cash flows higher or lower.

Therefore, I'd suggest investors look to companies likely to consistently grow earnings while selling for reasonable valuations.

The post Fund manager reveals top 5 ASX holdings appeared first on The Motley Fool Australia.

What did iSelect report?

The insurance comparisons site also saw revenue decline 8% on prior corresponding period to $74.25 million while earnings before interest, tax, depreciation and amortisation (EBITDA) fell 204% to -$2.57 million, down from $2.48 million in 1H18.

Net tangible assets (NTA) per security was flat at $0.60 per share while underlying earnings per share (EPS) increased by 69% to 2.2 cents per share (cps). The company reported an underlying net profit after tax (NPAT) of $4.83 million, up 72% from last year – albeit these underlying results strip out financial impacts of iMoney, impairment losses, write-offs from discontinued operations and material one-off transactions.

On a consolidated basis, the company generated 1.97 million leads with a conversion rate of 10.0%, down from 2.15 million at 10.4% in 1H18. The company saw a 6% decline in its Health operating revenue, however operating margin increased 3.9 percentage points (pp) to 13.6%. Life and General Insurance performed strongly, with operating revenue increasing 12% in the half while margin increased 16.3pp to 24.3%, while challenges in Energy and Telecommunications continued with an 18% drop in operating revenue in the half.

The company's balance sheet also took a hit in 1H19, with net assets dropping $6 million to $157.60 million for the half. Net cash from operating activities was in the black, up 390% on last year's numbers to $1.39 million in 1H19.

iSelect's share price has been on the slide since a peak of 2.128 per share in July 2017, with Friday's closing price of $0.800 per share representing a 62% decline in just 18 months. The company endured a difficult year in 2018 as its CEO resigned amid ongoing downgrades to earnings.

The company has blamed weak market conditions, particularly in the healthcare and telecommunications sectors, as the catalyst for its eroding profitability.

Is the iSelect share price a 'Buy'?

I wouldn't be buying the iSelect share price at $0.80 per share. It will be interesting to see the market reaction to the announcement this morning with a fairly mixed bag of results to dissect in the first half.

At the moment, I'd be steering clear and looking towards the likes of Origin Energy Ltd (ASX: ORG) ahead of its earnings release later in February.

The post iSelect share price on watch after mixed earnings result appeared first on The Motley Fool Australia.

Four shares that have defied the market and pushed higher today are listed below. Here's why they are ending the week on a high:

The Bionomics Ltd (ASX: BNO) share price has climbed 6% to 10.5 cents after the biotech company announced the commencement of an experimental phase II clinical trial. In combination with Bristol-Myers Squibb's nivolumab, Bionomics will trial its cancer drug candidate, BNC105, in patients with metastatic colorectal cancer. The Australasian Gastro-Intestinal Trials Group is sponsoring the trial which is being supported by Bristol-Myers Squibb.

The Healius Ltd (ASX: HLS) share price has pushed a further 1.5% higher to $2.75. Yesterday Healius, formerly known as Primary Health Care, revealed that it has received a non-binding indicative acquisition proposal from Jangho Hong Kong Limited. An indicative offer of $3.25 cash per share has been made, though the Healius board is not yet in a position to recommend it.

The iSelect Ltd (ASX: ISU) share price has risen 5.5% to 77.5 cents despite there being no news out of the price comparison website operator. However, last month Innovation Holdings increased its stake in the company to 22.6% from 19.6%. Investors may believe this is a sign that a takeover approach is coming in the near future. Innovation Holdings is the company behind rival Compare the Market.

The Newcrest Mining Limited (ASX: NCM) share price is up 3% to $23.32. Australia's gold miners have been on the charge today after volatile markets led to a jump in the gold price overnight. The spot gold price is up 0.7% to US$1,289 an ounce over the last 24 hours. The S&P/ASX All Ords Gold index is up a sizeable 2.3% today.

The post Why Bionomics, Healius, iSelect, and Newcrest shares are ending the week on a high appeared first on The Motley Fool Australia.

Four shares that have defied the market decline today are listed below. Here's why they climbed higher:

The iSelect Ltd (ASX: ISU) share price has jumped almost 7% to 79.5 cents. This latest gain means the price comparison company's shares have risen over 13% since the start of the month. News that Innovation Holdings has been increasing its stake in the company appears to have been the driver of this gain. Innovation Holdings is the company behind rival Compare the Market. It now holds a 22.6% stake in iSelect and has many speculating that a takeover approach could be coming.

The Metcash Limited (ASX: MTS) share price has climbed 4.5% higher to $2.35. On Tuesday the wholesale distributor's shares tumbled to a 52-week low. With no news out of the company today, I suspect that some investors think that its shares have fallen too far and are in the buy zone now.

The Northern Star Resources Ltd (ASX: NST) share price has risen over 5% to $9.01. Almost all of Australia's gold miners have been pushing higher on Wednesday thanks to a rise in the gold price and increased demand for risk-off assets. At the time of writing the S&P/ASX All Ords Gold index is up 2.7%.

The Qantas Airways Limited (ASX: QAN) share price has stormed over 5% higher to $5.81. A number of airline shares have been soaring on Wednesday after oil prices crashed lower overnight. Due to Qantas' fuel hedging policy, it stands to benefit greatly from falling fuel prices. With the outlook for oil looking bleak and airfares on the rise, I think Qantas could be a great option for investors right now.

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The three small cap shares listed below have started the week with strong gains. Here's why they are storming higher on Monday:

The iSelect Ltd (ASX: ISU) share price has raced over 7% higher to 80.5 cents. Investors appear to have responded positively to news that Innovations Holdings has increased its stake in the beaten down price comparison company from 19.6% to 22.6%. Innovation Holdings owns arch rival Compare the Market and snapped up 5.75 million shares though an on market trade on Thursday of last week. I suspect that the market may be interpreting this latest purchase of shares as a sign that a takeover offer could be made in the not so distant future.

The Kidman Resources Ltd (ASX: KDR) share price is up 9.5% to $1.47 after the lithium miner advised that it has executed a deed of settlement with the objectors to the applications for its exemption from the minimum expenditure obligations on its Mt Holland tenements. There had been concerns that Kidman Resources may have been forced to forfeit the tenements, but this settlement means that all objections to the applications for exemption have been withdrawn and forfeiture applications at Mt Holland will also be dismissed. Kidman Resources and its joint venture partner, Sociedad Quimica y Minera de Chile, will now push ahead with the project development.

The Ramelius Resources Limited (ASX: RMS) share price is up 12.5% to 45 cents. As well as benefitting from increased demand for safe haven assets from investors today due to the market selloff, Ramelius' shares were given an extra boost following the release of a positive exploration update this morning. The gold miner released highly encouraging in-pit and regional exploration drilling results from its ongoing exploration and resource development drilling programs at its Mount Magnet and Edna May operations.

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Unfortunately, not all shares on the market have been able to follow it higher. In fact, the three shares listed below have lost more than half their value during the period. Is this a buying opportunity?

The Clean TeQ Holdings Limited (ASX: CLQ) share price has fallen 55% over the last 12 months. For those that are unfamiliar with the company, Clean TeQ is the owner of the Sunrise project in New South Wales. Sunrise is one of the largest cobalt deposits outside Africa and also has one of the largest and highest grade accumulations of scandium ever discovered. Last year cobalt prices rocketed higher and continued to do so until March of this year. But since then prices have crumbled and cobalt-focused companies have seen their shares do likewise. I'm not overly convinced that cobalt prices have bottomed yet, which could mean further pressure on the Clean TeQ share price in the coming months.

The iSelect Ltd (ASX: ISU) share price is down over 52% since this time last year despite the fact that its shares have risen strongly over the last few months. Investors hit the sell button in a hurry when the price comparison company advised of a sudden deterioration in its performance earlier this year. This downturn ultimately led to a sharp drop in profits and the resignation of its CEO. In FY 2018 iSelect posted a net loss after tax of $13.5 million compared to a profit of $16.4 million a year earlier. While things appear to be improving for iSelect, I would suggest investors wait to see how it performs in the first half before considering an investment.

The Slater & Gordon Limited (ASX: SGH) share price has risen strongly this week but is still down over 56% over the last 12 months. While yesterday's announcement of the launch of the Get Your Super Back campaign could be a big positive for the law firm if it is a success, I'd suggest investors continue to stay clear of its shares. After all, management has continued to draw shareholder attention to the fact that its shares may be overvalued. Only last month it reminded shareholders that an independent expert's report prepared by KPMG valued the shares in the range of 30 cents to $1.10. Slater & Gordon's shares are currently priced at $3.05.

The post Should you buy these beaten down ASX shares? appeared first on The Motley Fool Australia.

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

The Challenger Ltd (ASX: CGF) share price has dropped a further 4% to $11.13. Investors have been hitting the sell button in a hurry after the annuities company's full-year results came in below expectations on Tuesday. One broker that wasn't overly impressed was Credit Suisse. It has downgraded Challenger's shares to a neutral rating from outperform. It also reduced the price target on Challenger's shares to $12.00, though this is still a fair bit higher than the current share price.

The Huon Aquaculture Group Ltd (ASX: HUO) share price has plunged almost 9% to $4.31 after the salmon and trout producer released its full-year results. Huon reported a net profit after tax of $26.4 million, down 37% from $42.2 million in FY 2017. This was driven largely by a decline in the fair value adjustment of its biological assets. Management also warned that harvest volumes for FY 2019 would be considerably lower, though it is optimistic that stronger pricing will offset this.

The iSelect Ltd (ASX: ISU) share price has fallen almost 4.5% to 78 cents. Investors appear to be undecided on the price comparison company's prospects this year after a disastrous FY 2018. Yesterday's results release revealed a 62% drop in profits but a reasonably positive start to the new financial year.

The Pact Group Holdings Ltd (ASX: PGH) share price has been crushed and is down 17% to $4.42. This morning the packaging company posted a full-year statutory net profit after tax of $74 million on sales revenue of $1,674 million. This was a decline of 18% and an increase of 13%, respectively, on last year's result. While this was disappointing, management's guidance for FY 2019 appeared to be reasonably solid. It expects EBITDA (before significant items) between $270 million and $285 million, compared to FY 2018's $237 million.

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Here's a short recap of the Australian market:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) higher 0.76% to 6,299.60
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) higher 0.71% to 6,386.20
• AUD/USD at US 73 cents
• Gold at US$1,195.80 an ounce
• Brent Oil at US$72.84 a barrel

The best-performing ASX 200 share today was Afterpay Touch Group Ltd (ASX: APT), the buy now pay later provider's share price increased by 5.8%.

Investors reacted with even more positivity to JB Hi-Fi Limited's (ASX: JBH) report from yesterday. The retailer's share price went up 5.3%.

Challenger Ltd (ASX: CGF) disappointed shareholders today with its FY18 result, the share price has fallen 6.9% after coming in at the low end of its expected profit. Fellow fund manager Magellan Financial Group Ltd's (ASX: MFG) shares also fell 3.6% today.

Right behind Challenger in terms of disappointing the market was Domino's Pizza Enterprises Ltd. (ASX: DMP), it fell 6.5% after Australian stores didn't deliver as much growth as expected.

The Cochlear Limited (ASX: COH) share price was another to fall after reporting, it dropped 3%.

One business that did impress the market with its report was Whitehaven Coal Ltd (ASX: WHC), the miner's share price climbed 1.3%.

Finally, investors of iSelect Ltd (ASX: ISU) copped a 15% fall today after the comparison site's full year result didn't impress.

Here are some of today's top stories:

• Australia's second largest LIC reports: profit up, dividend up
• 5 mega Australian tailwinds to profit with
• National Australia Bank Ltd (ASX:NAB) releases its third quarter update
• Why this outperforming sector could be next to suffer a major downturn

The post ALL ORDINARIES finishes higher Tuesday: 8 shares you missed appeared first on The Motley Fool Australia.