18/10/2023 09:11

HUB24 Ltd (HUB) $33.59

HUB delivered a Q1 FY24 trading update on Tuesday, which was initially greeted with enthusiasm, sending the stock to a fresh all-time high before most of the gains were surrendered as sellers surfaced into the strength: Total Funds under Administration (FUA) rose from $82.72bn to $68.35bn, up +21% year on year. 1Q Net Inflows were $2.8bn, down 6.3% year on year, with growth getting a touch harder.

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10/10/2023 09:19

HUB24 Ltd (HUB) $32.63

HUB outperformed the market, closing up +0.7%, as the stock continues to consolidate gains following the company's impressive result in late August - the wealth management platform reported stronger than expected underlying earnings while their growth in total Funds Under Administration (FUA) continued to impress,  hitting $80.3bn, up 22% YoY.

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22/08/2023 17:02

HUB24 (HUB) $31.20

HUB +11.31%: Stormed higher today after the wealth management platform reported underlying EBITDA for the full year of $102.4m versus consensus of $99.23m, however, they also increased the dividend (18.5c v 12.5c) and announced a $50m buyback which underpinned the shares.

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06/07/2023 09:01

HUB24 Ltd (HUB) $25.45

HUB fell -2.9% on Wednesday although the stock remains basically unchanged both in 2023 and for the last 2 years. We continue to expect market leadership for HUB on both net flows and platform functionality, but the market appears to be rerating the sector’s valuations.

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27/06/2023 09:24

HUB24 Ltd (HUB) $25.80

HUB has become more interesting over recent weeks following its 15% pullback from its 2023 high while its valuation has fallen towards the lower end of historical averages, plus we continue to expect the business to maintain market leadership on net flows.

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18/04/2023 16:49

HUB24 (HUB) $28.15

HUB +2.36%: Rallied today following their Q3 update that showed net flows of $1.9bn and total Funds Under Administration (FUA) of $76.9bn (+13% YoY), continuing its trajectory and number one position on net flows for the quarter across the platform space. They also flagged an agreement with EQT for a proposed large transition of up to $4bn.

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21/02/2023 16:53

HUB24 (HUB) $29.09

HUB +7.74%: A very strong update from investment platform provider HUB 24 today (HUB) and the stock reacted accordingly. 1H23 group revenue of $137.7m was strong and around ~10% ahead of expectations while Underlying EBITDA at the group level of $49.9m was a ~5% beat.

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20/01/2023 09:29

1 HUB24 Ltd (HUB) $25.04

HUB has fallen -5.83% so far this year after the investment platform business disappointed the market with its 2Q Funds Under Administration (FUA) numbers, they reported net inflows of $2.8b, down from $3b in the first quarter and $3.3b in 2Q22 i.e. not ideal for a stock priced for growth. Also, net inflows were 13% lower in the first half compared...

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17/01/2023 17:18

Hub24 (HUB) $26.70

HUB -4.47%: the investment platform business posted 2Q Funds Under Administration (FUA) numbers today which disappointed the market. They saw net inflows of $2.8b, down from $3b in the first quarter and $3.3b in 2Q22. Net inflows were 13% lower in the first half compared to the same period last financial year with the company blaming...

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09/01/2023 13:11

Flagship Growth Portfolio – Amendment

We are selling our 4% holding in HUB24(HUB) given its traded up into our target region above $28. While we continue to like HUB, and will own it again at some point, raising cash into market strength has it's appeal for now. 

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