Here’s a look at the top movers among the ASX 300 during the afternoon…
The post Which ASX 300 shares are the biggest winners and losers today? appeared first on The Motley Fool Australia. –
The S&P/ASX 300 Index (ASX: XKO) is edging higher today as we continue to the back end of the latest earnings season.
At the time of writing, the ASX 300 is pushing near its record levels, up 0.24% to 7,519 points.
Here are some of the top movers on the ASX 300 today.
WiseTech Global Ltd (ASX: WTC)
The WiseTech share price is up an astonishing 26.96% higher to $45.96 following the company’s release of its full-year results.
The logistics solutions platform provider highlighting significant growth across key metrics. Particularly, its net profit after tax doubled to $105.8 million on the back of a “goods-led” recovery in global trade.
Unsurprisingly, ASIC issued the company a speeding ticket after WiseTech shares surged as high as $57.31 during the day.
Lovisa Holdings Ltd (ASX: LOV)
Another significant mover today is the Lovisa share price, up 18.71% to $19.48. The jewellery retailer also released its full-year results, recording increased earnings and rewarding shareholders with a final dividend.
It’s worth noting that the company’s shares reached their record high today of $20.68, having soared 160% over the year.
Hub24 Ltd (ASX: HUB)
Following suit, the Hub24 share price is up 10.22% to an all-time high of $30.75.
While the company provided the market with its full-year results yesterday, it appears several brokers are weighing in.
Morgans raised its price target for the investment platform provider’s shares, adding 13% to $31.65. In addition, Macquarie and Goldman Sachs improved their outlook on Hub24 by 2.9% to $26.50, and by 3.8% to $29.81, respectively.
And the biggest losers?
Recce Ltd (ASX: REH)
Heading south is the Recce share price, down a sizeable 11.92% to $22.02.
The plumbing parts company released its full-year results for the FY21 period, registering solid earnings despite COVID-19. Most notably, Reece decided to reward shareholders, doubling its fully-franked final dividend to 12 cents per share.
A possible catalyst for the steep decline however could be a broker note that came out today. According to Morgan Stanley, it cut its rating on Recce shares by 2.4% to $16.00. Based on the current share price, this implies a downside of around 28%.
Nine Entertainment Co. Holdings Ltd (ASX: NEC)
Also in decline is the Nine Entertainment share price, down 9.73% to $2.69.
The entertainment and media company published its full-year results, citing growth in its key financial metrics. Revenue lifted 8% to $2,332 million, while net profit after tax accelerated by 76% to $278 million compared against FY20.
Nonetheless, it appears investors were expecting the company to produce a better scorecard.
The Nine Entertainment share price has gained more than 140% since the beginning of April 2021.
The post Which ASX 300 shares are the biggest winners and losers today? appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Hub24 Ltd and WiseTech Global. The Motley Fool Australia owns shares of and has recommended WiseTech Global. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.