Saudi Arabian stock alert

SAARAB

Morning Alert: Malath Cooperative Insurance and Reinsurance keeps rising: up 23.1% in 5 days 18 October 2017 11:28 AST

NEWS BITES - MIDDLE EAST & NORTH AFRICA

Malath Cooperative Insurance and Reinsurance Company (TASI:8020) extended its gains on Wednesday, rising an additional SAR1.50 (or 9.9%) to trade at SAR16.64. Trading volume was 1.3 times average so far today. The shares have risen SAR3.12 (or 23.1%) over the past five trading days vs. the All Share Index (TASI) which has risen 1.0% in the same period.

SECTION 1: The past week

Current indications of bullish signals that support the trend in the unusual trading

1.1 At a glance

Weekly: Malath Cooperative Insurance and Reinsurance in its biggest weekly gain in 3 weeks October 17, 2017 15:30 AST

Malath Cooperative Insurance and Reinsurance Company (TASI:8020), Saudi Arabia's 11th largest Insurance company by market cap, has climbed SAR1.14 (or 8.1%) in the past week to close at SAR15.14. In the past week the shares have climbed 8.1%, the biggest weekly gain since October 03, 2017. Compared with the All Share Index (TASI) which fell 49.0 points (or 0.7%) in the week, this represented a relative price increase of 8.8%. The volume was 1.5 times average trading per week of 4.2 million shares. In the past week the market cap has jumped SAR589 million.

1.2 5-day Recap

Malath Cooperative Insurance and Reinsurance outperformed the All Share index (TASI) in 4 out of 5 days.

DayHeadlineClose price [SAR]Price change %Relative change %Comment
TuesdayMalath Cooperative Insurance and Reinsurance jumps 9.4%15.149.49.2Top Rise
MondayMalath Cooperative Insurance and Reinsurance increases, 2 days' volume in a day13.840.70.2
SundayMalath Cooperative Insurance and Reinsurance increases on robust volume13.740.60.8
ThursdayMalath Cooperative Insurance and Reinsurance increases 1.0%, 2 days' volume in a day13.661.00.1

Note

DayHeadlineClose price [SAR]Price change %Relative change %Comment
WednesdayMalath Cooperative Insurance and Reinsurance drops 3.4%, 2 days' volume in a day13.52-3.4-1.3Steepest Fall

SECTION 2: Technical indicators

Bullish:

The positive 0.41 MACD (Moving Average Convergence Divergence) indicator suggests a bullish signal (12-day minus 26-day Exponential Moving Averages). Both the 12-day and the 26-day EMA are rising - another bullish signal. In the past week, the stock's MACD has been positive every day, a reinforcing bullish signal.

In the Saudi Arabian market, the stock's relative price strength percentile is rising at 93 for 6 months, 93 for 3 months and 99 for 1 month.

In the last three months the stock has hit a new 52-week high once.

The present value of SAR1,000 invested one year ago is SAR1,364 [vs SAR1,274 for the All Share Index (TASI)], for a capital gain of SAR364. The total return to shareholders for 1 year is 36.5%.

Note

The stock is at a discount of 7.3% to the 12-month high of SAR17.96 on 04 Oct, 2017. It is also at a premium of 55.8% to the 12-month low of SAR10.68 on 11 Jun, 2017.

SECTION 3: Ranking

DescriptionValueRank In Market
Price/MAP2001.25In Top 4%
Today's Volatility %0.2In Top 7%
MCap $US million221.5In 3rd Quartile
52-week Range (in SAR)10.7-18.0
1-month Range (in SAR)12.2-18.0

SECTION 4: Earnings

FY2016 Annual Report: Malath Cooperative Insurance and Reinsurance reports Loss of SAR156m ($US41.6m)

Malath Cooperative Insurance and Reinsurance (TASI:8020) reported loss for the year-ended 31 December 2016 of SAR156m ($US41.6m).

Major changes compared with previous year:

Favourable Changes:

- Total revenue up 4.4% from SAR1.8b ($US480.0m) to SAR1.9b ($US501.3m)

- Long-term investments to Total Assets up from 56.3% to 61%

Unfavourable Changes:

- Administration expenses to Sales up from 0.5% to 1.3%

- Current Debtors to Total Assets down from 13.9% to 8.7%

Note:

- Total revenue to total assets steady at 1.0

- Total liabilities to Total assets steady at 0.9

- Other non-current assets to Total Assets up from 29.8% to 30.3%

SECTION 5: Recent News of Malath Cooperative Insurance and Reinsurance

October 09: The Saudi Stock Exchange (Tadawul) announces the beginning of the subscription period and tradable rights trading for Malath Cooperative Insurance Co.

The Saudi Stock Exchange (Tadawul) announces the beginning of the subscription period and tradable rights trading for Malath Cooperative Insurance Co. which starts tomorrow Monday 09/10/2017. The trading period shall end on Monday 16/10/2017, while subscription will remain until Thursday 19/10/2017.

Source: mubasher.info

October 03: The Saudi Stock Exchange (Tadawul) announces that the addition of the bonus shares and the fluctuation limits for Malath Cooperative Insurance Co. will be based on a share price of SAR 12.35

Malath Cooperative Insurance Co. EGM held on Thursday 28/09/2017 has approved the capital increase via right issuance. Thus, the fluctuation limits on Sunday 01/10/2017 for Malath Cooperative Insurance Co. will be based on a share price of SAR 12.35. Furthermore, the Securities Depository Center "Edaa" will deposit Malath Cooperative Insurance Co.

October 03: Edaa Announces the deposit of Malath Cooperative Insurance Co. subscribed shares

The Securities Depository Center Company ("Edaa") announces the deposit of Malath Cooperative Insurance Co. new shares into the "Center Accounts" of the eligible shareholders today, 13/01/1439H, corresponding to 03/01/2017G.

Source: mubasher.info

Malath Cooperative Insurance and Reinsurance Company (SA:8020; SAU:8020; AB:8020)

ISIN: SA000A0MJ2J4

PermID: 4295887362

Source: www.BuySellSignals.com