Other posters on HC have pointed out that this can be "game playing". If you really wanted to sell that many into a fairly thinly traded stock, would you really try to scare people like that? I'm not saying you're definitely wrong, but you can't confidently conclude anything from it.
Today, Marcus Today reports that "UBS has performed a review of the Aged Care sector and believes that higher occupancy, reclassification and revenue for additional services will mitigate at least 50% of cuts to the aged care funding." UBS have upgraded JHC, EHE and REG to "buy", based on the above argument and recent share price falls.
PGC is doing better today... The above release from UBS might help to offset the negative sentiment towards the aged care sector.
PGC still seems cheap to me (on a forecast PE of 12.2). I wonder if there are vague fears of government cutbacks in the health care sector.
PGC Price at posting:
79.0¢ Sentiment: None Disclosure: Held
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