Australia's HUB24 extends falls after slip in HY inflows; misses UBS estimates

Hub24

18/01/2023 24:44

** Shares of HUB24  HUB.AX  extend losses to fall up to 6.4%
to A$25, hitting their lowest since Nov. 10 
    ** HUB on track to post its sharpest fall since Sept. 23 
    ** Investment management co on Tuesday posted a 13.6% fall
in net inflows for the first half of FY23
    ** Analysts at UBS say the co's quarterly net fund inflows
of A$2.8 bln ($1.96 bln) missed estimates 
    ** Co's platform funds under administration was A$55.8
billion as at Dec. 31
    ** UBS, however, raised its FY23 NPAT forecast by nearly 3%
to A$36.5 mln 
    ** Nine of 13 analysts rate the stock "buy" or higher, three
"hold" and one "sell" or lower; their median PT is A$31.6–
Refinitiv Eikon data 
    ** In 2022, stock was down 6%     
($1 = 1.4316 Australian dollars)
 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))