A number of substantial holding notices from OzForex (OFX) suggest that some investors from the float are looking to exit positions

A number of substantial holding notices from OzForex (OFX) suggest that some investors from the float are looking to exit positions. Since the release of the Company's results in February BT Investment Management has completely exited its 8% position. Other substantial notices also show a sell down from Solaris Investment Management who have sold down nearly $8million in stock top exit their position. After a weight of selling there is the chance that the stock could start to recover, however, the current price trend is not looking good. There are high expectations placed on the earnings growth that OzForex can deliver - thus making the stock susceptible to a brisk de rating. OzForex is due to report earnings in early May - the report will be one to watch closely and recent stock action suggests the market is acknowledging the strong chance that expectations of OxForex are overcooked.


3 topics

The Livewire Equities feed brings you a range of insights that relate to Australian equities

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.