MQG are masters of capital raising (at share price peaks) as well as overall capital management maximization (buy-backs).
They've bought back about AUD1B worth of stock and have an allocation for another ~AUD1B to spend.
Shemara isn't going to approve buy back of MQG stock that is over-valued. All the MQG execs are up to their eyeballs in MQG stock and options. They more than anyone want that stock price to rise sustainably over time. The execs are long-term remunerated with golden handcuffs using shares.
Meaning they will not be buying back if they think their stock is in trouble. Meaning they see future value and growth of the business i.e the future looks bright vs doom and gloom.
The market will react to the cautious stance MQG always talk to about the future. Under promise, over deliver again (and again, and again). The trend is your friend.
MQG Price at posting:
$222.73 Sentiment: Buy Disclosure: Held
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