Who says markets are efficient?
GMA was trading at ~$3.80 just prior to COVID-19. In the two years since then, Genworth has generated $640m in operating cash flow, but only paid out $150m in dividends. That is, it has generated net cash of $1.20 per share.
Despite the perfect storm of record low unemployment and record house price appreciation in the period, which drastically diminishes the risk of claims from the back book, we find that the share price hasn't risen above $5.00, in fact it sits 20% below pre-COVID levels.
Share Price Catalysts, page-8
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Last
$4.19 |
Change
0.120(2.95%) |
Mkt cap ! $1.176B | |||
| Open | High | Low | Value | Volume |
| $4.07 | $4.20 | $4.03 | $6.266M | 1.510M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 15910 | $4.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.20 | 3000 | 1 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| HLI (ASX) Chart |