Leading brokers name 3 ASX shares to buy today

There are some ASX shares that brokers think are worth investing in today. One pick is Humm Group Ltd (ASX:HUM).
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia. –

Buy shares

There are some ASX shares that a number of brokers like and have rated as ‘buys’.

It can be quite hard to find good businesses that are trading at a good price. One investor might say that BHP Group Ltd (ASX: BHP) is a good buy, whilst another might say that Woolworths Group Ltd (ASX: WOW) is the share to buy.

Brokers are constantly looking at businesses and share prices, thinking about what would be a good investment. There are various brokers out there like Bell Potter, Macquarie Group Ltd (ASX: MQG) and UBS that provide different recommendations about shares.  

With that in mind, these ASX shares are liked by more than one broker. Of course, this still isn’t a guarantee of success – they could all be herding together.

Humm Group Ltd (ASX: HUM)

Humm is one of the buy now, pay later businesses on the ASX – it used to be called FlexiGroup.

One of the brokers that likes Humm is UBS after a solid performance relating to volume and credit performance. UBS is also attracted to the overseas growth potential for Bundll and humm, which could drive growth of the business and the share price.

Last week the ASX share gave a trading update for the first half of FY21. It said that it expects to report cash net profit after tax (NPAT) of $43.4 million, up 25.8% compared to the prior corresponding period.

By focusing on reducing underlying costs, operating expenses (excluding the loan impairment expense) were down 11.1% to $87.2 million. The loan impairment expense was down 35.3% to $25 million.

Humm also reported that its top line growth in the buy now, pay later segment was good, with growth of total customers of 40.4% to 2.6 million.

Audinate Group Ltd (ASX: AD8)

Audinate is an ASX share that owns the Dante platform, which distributes audio signals across computer networks. It says that it’s the lead supplier of digital and audio video networking for the professional AV industry.

Morgan Stanley is one of the brokers that currently likes Audinate. The broker likes that Audinate is predicting the second quarter revenue of US$5.9 million could be the highest in the company’s history so far, despite live sound and large events still being a drag on the performance.

In the first quarter of FY21, Audinate generated revenue of US$5.2 million and earnings before interest, tax, depreciation and amortisation (EBITDA) of AU$0.3 million. For the first half of FY21 it made US$11.1 million of revenue.

Australian Finance Group Ltd (ASX: AFG)

Australian Finance Group has the largest aggregation platform for brokers in Australia. It has approximately 3,000 brokers have offer a variety of finance products and services to clients.

The ASX share held its annual general meeting (AGM) not too long ago and gave an update.

The quarter ending 30 September 2020 was a record quarter of lodgement activity in the residential broking division. That strong momentum continued into October and the Australian property market has continued to be strong in recent months.

Federal and state incentives for property buyers have targeted the first home buyer market and stoked demand. Due to that, according to the company, the first home buyer market share activity has increased to 23% in October, up from 15% in the same period last year.

October trading showed increases in lodgements right across Australia. Lodgement volumes for October exceeded $6.7 billion for the ASX share. That was a record for the company, it represented a 16% increase year on year.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO and Macquarie Group Limited. The Motley Fool Australia has recommended Humm Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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