Consunji private holding firm, DFC Holdings, Inc. continuously buy DM Consunji Holdings, Inc. (DMC) shares as DMC shares continue to dwell in the cellar. The Consunji have been taking advantage of the weakness in the share price of DMC by accumulating the shares.
For the month of September 2020 DFC Holdings, Inc. bought 6,627,000 DMC shares for a total of 26.4 Million Pesos. All throughout 2020 DFC Holdings, Inc. has been opportunistically buying DMC shares at low.
We have earlier commented that the COVID-19 pandemic had a significant adverse impact on the operations and finances of DMCI Holdings, Inc. (DMC) during the first half of 2020 (1H 2020) which resulted in a weaker financial footing for DMC as of end of 1H 2020.
The weakness in the results of DMC sent it shares plummeting to a low of 3.40 a share almost revisiting the 3.10 a share low at the height of the sell down in March 2020.
On October 9, 2020 trading DMC shares rose 3.61% to close at 4.30 a share. On that day it went as high as 4.33 a share. Those following and matching the insider buying of the Consunji’s DFC Holdings are poised to be rewarded. It looks like DMC is on a gradual rise now and may not look back. The single day rise of 3.61% could be the jolt that would propel DMC up.
Disclaimer and Disclosure: This is an independent analysis for discussion purposes with the aim of giving stock traders and investors an independent view point. Accuretti Systems Inc. in the course of day to day trading may have own, or is considering buying or disposing, the shares of the companies mentioned in this commentary.
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