Today’s positive employment figures added fuel to the fire burning under the share price of recruitment and training advertiser, Seek Limited. The shares today jumped 48c or over 8% to $6.34.
Since testing lows of close to $2.00 in the last twelve months, the company’s share price has more than trebled. Investors are clearly banking on a return to a strong employment market.
The company recently expanded its training offerings, completing an acquisition of the Australian College of Beauty in Brisbane through its THINK:Education Group subsidiary.
Less than two months ago, Consolidated Media Holdings sold $440M in Seek shares at $5.05 a share – 20% less than today’s close. James Packer and John Alexander resigned from the Seek board.
Seek has a market capitalisation of $1.98B and holds 60% of the Australian recruitment advertising market.