Let’s have a look at the best performing stocks from the ASX 300 over the past month and see if there is anything we can learn from them to make us better investors.
June is the most volatile month for the ASX, at least in recent years. Tax-loss selling is a big factor. Another factor, amongst the smaller cap stocks is lessening liquidity which only serves to exacerbate these tax-loss movements.
1. Omni Bridgeway – ASX:OBL
On this chart we can see the share price in black and the operating cash flows history in gold. Neither paint an inspiring picture. Despite this the stock is up 32% in the past 30 days. The only announcement in that time has been that a fund manager has been accumulating shares. This looks like a simple bounce from very oversold levels. The medium term trend remains down.
2. OFX Group Limited – ASX:OFX
Latest results from the company were sound and as a result brokers have increased their forward numbers. They were predicting falling profits for the next 2 years but have now upgraded to show growth. The company is bouncing from oversold levels. The medium term trend has now shifted to be rising once again.
3. APM Human Services International Limited – ASX:APM
The share price has bounced due to a takeover offer. Despite consistent growing in revenues and cash-flows, the market has never really liked this company.
4. Bendigo and Adelaide Bank Limited – ASX:BEN
https://www.bendigobank.com.au/
The story of this company is one of no growth. A recent update doesn’t change that narrative but it would appear that things aren’t as bad as the market was expecting. The company is bouncing from oversold levels.
5. Healius Limited – ASX:HLS
The share price has been sliding after peaking during Covid. Analysts are not forecasting earnings to start improving until next year. This looks like a simple bounce from oversold levels. The medium term trend remains down.
6. Technology One Limited – ASX:TNE
https://www.technologyonecorp.com/
An amazing track record of increasing revenues and earnings sees this company considered by many to be among the highest quality on the ASX. The share price continues to rise as the company continues to deliver improving results.
7. Tuas Limited – ASX:TUA
Much earlier days in the life of this company but similar sentiments to those expressed for ASX:TNE. The share price continues to rise as the company continues to deliver improving results.
8. Zip Co Limited – ASX:ZIP
This company has recently crossed a significant milestone becoming operating cash flows positive. While many have been sceptical about the validity of this business, more are starting to believe as they continue to improve its financial position. The share price continues to rise as the company continues to deliver improving results.
9. JB Hi-Fi Limited – ASX:JBH
The theory is the market is looking through the current sales weakness and embracing the prospect of rate cuts in the near future. Analysts, at best, are predicting flat returns over the next five years. Grossed-up yield is almost 6% which improves the appeal of this company if interest rates do fall. The share price is rising as Bond Yields fall in the US and the market anticipates rate cuts in most developed economies.
10. Pro Medicus Limited – ASX:PME
An amazing track record of increasing revenues and earnings sees this company considered by many to be among the highest quality on the ASX. The share price continues to rise as the company continues to deliver improving results.
11. Judo Capital Holdings Limited – ASX:JDO
This company is gradually getting more coverage and attention as they continue to do everything right. The share price continues to rise as the company continues to deliver improving results.
12. NRW Holdings Limited
The stock has risen on the back of a positive announcement regarding some new contract wins, which is part of a broader uptrend for the share price of this company on the back of a number of years of consistent performance.
13. Imdex – ASX:IMD
The stock has been on the move since a presentation back in early May. Like the company above, they have put together a string of consistent results for a number of years now and are forecast to continue doing so.
14. Data#3 Limited
The share price continues to rise as the company continues to deliver improving results. There has not been any announcements from them in the past month.
15. Codan Limited
The share price continues to rise as the company continues to deliver improving results. Two separate announcements have been released by the company in the past month revealing that directors have been adding to their positions.
Conclusion
The top performers on the ASX300 over the past 30 days fall into three categories:
- Companies performing well, recognized by the market, with rising share prices.
- Companies previously underperforming, now seen as undervalued, experiencing a rebound.
- Companies benefiting from announcements that trigger strong buying.
I focus on identifying companies in the first category. While announcements can boost short-term performance, only significant achievements like profit upgrades or major contract wins drive long-term growth. I avoid companies with a history of poor performance.
Disclaimer: This information is provided purely for educational purposes. It takes no account of an individual’s personal financial circumstances and hence can in no way constitute financial advice. The above data may be subject to errors or inconsistencies for which the author takes no liability. It is imperative that all investors do their own research or if they need advice, seek it from a qualified financial adviser.
A Chart For Each ASX300 Best Performer