Anyone got an opinion on these. They are trading at less than their net tangible assets and they have had some interesting trades in the last few days.
Soul's Fund management have been trading them down but the trades don't relate to the size of the trades in the last few days. Today 3.1 million shares and yesterday 1.5 million. It could be more trading down by Soul's but the price has been increasing during October which doesn't match.
Calliden have also purchased some insurance acquisitions which should put their net profit now in positive territory. With such a lot of tax losses and franking credits on their books I think they have plenty of upside.
They seem a likely acquisition for other insurers and with the trades the last few days there could be something big about to happen.
As always do your own research before deciding to invest.