Our ALGO engine triggered a buy signal for MPL into the ASX close at $2.97.
This “higher low” structure is referenced to the August 23rd low trade of $2.66.
The half-yearly results released on February 16th were mixed: net profits grew by 6% but net investment income was 15% lower at $69 million.
As such, we would consider MPL a buy/write opportunity when the share price rises back into the $3.10 area.
MPL will pay a 6.75 cent dividend on September 28th, which puts it on a 4.4% annual yield at current prices.
Todd has worked in the financial industry for 20 years. During this time, his primary focus has been in the Foreign Exchange, Global Equities and Fixed Income areas. Todd has also served as a Judicial Advocate in several tax cases in the US Federal Court.