Whilst some investors believe that you should sell in May and go away, I would ignore this old adage and continue investing in the share market this month.
Three shares which are at the top of my shopping list right now are listed below. Here's why I would snap them up:
It hasn't been a great year for the Ardent Leisure Group (ASX: AAD) share price. It is down 11% year-to-date as the embattled Dreamworld business continues to weigh heavily on its results. But I believe investors should look beyond Dreamworld to its lucrative US-based Main Event segment, which now contributes approximately 63% of the company's EBITDA. Management plans to accelerate the roll out of these centres, ultimately targeting upwards of 200 centres. This is a big increase from the 31 centres operating today.
Although the Ramsay Health Care Limited (ASX: RHC) share price has performed strongly in the last 12 months, I don't believe it is too late to snap up shares today. In my opinion Ramsay is one of the best buy and hold investment options available on the Australian share market. With demand increasing due to ageing populations, increased chronic disease burden, and improvement in treatments, I think Ramsay is in a great position to grow its bottom line at an above-average rate over the next decade. While 30x trailing earnings is by no means cheap, I think its long-term growth prospects more than justify the premium.
The Webjet Limited (ASX: WEB) share price has climbed a whopping 85% in the last 12 months. The catalyst for this was a stunning half-year result which saw net profit after tax growth of 86.9%. Strong bookings growth and market share gains in each of its businesses were behind the strong result. With management expecting more of the same in the second-half, I think that this online travel agent is still a buy despite its incredible rally.
