Got cash to invest? Here are 2 ASX shares to buy

Do you have some cash to invest? There are some really good ASX shares worth thinking about, including Redbubble Ltd (ASX:RBL).

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If you have some cash to invest then there are a number of impressive ASX shares that could be worth looking at.

Share prices are changing all the time so that can make some businesses cheaper quite quickly and turn them into opportunities. The share market is always offering us a price to buy new shares or a price sell our own shares at.

These are two ASX shares that may be worth thinking about:

Redbubble Ltd (ASX: RBL)

Redbubble is an e-commerce ASX share that provides a wide range of artist products for customers and it provides advertising and (third party) printing services for the artists.

The broker Morgans rates the Redbubble share price as a buy and thinks the shift to online shopping is a long-term opportunity.

Redbubble sells a wide range of items such as wall art, bags, housewares, clothes and stationery.

Redbubble has seen significant growth since the start of 2020 and is now operating at a much larger scale than 12 months ago.

In the recent half-year result it revealed that high growth rates have continued across all geographies and product categories, even as mask demand moderated to 7% of the overall product mix in the second quarter. Redbubble introduced a mask category last year and this paid off as it generated millions of dollars of revenue.

The ASX share was able to still generate good growth in the first six months of FY21 despite COVID-19 impacts continuing to affect the global shipping network, which is affecting margins. The strengthening Australian dollar also caused a negative hit to earnings to the tune of $2.2 million.

Despite the impacts I just mentioned, marketplace revenue grew 96% to $352.8 million, gross profit increased by 118% to $144 million and earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 1,028% to $48.8 million. The gross profit margin increased by 4.1 percentage points to 40.8%.

It also reported that it made $41.8 million of earnings before interest and tax (EBIT) and $80 million of operating cashflow.   

Pacific Current Group Ltd (ASX: PAC)

Ord Minnett is a broker that likes Pacific Current right now at this share price. It has a buy rating and a price target of $7.60 for the business.

Pacific Current describes itself as a multi-boutique asset management business that tries to partner with great investment managers. It combines an offering of capital, with each economic structure being different, and strategic business development to help those managers grow. It currently has investments in more than 10 different global fund managers spread across the world.

The ASX share can grow and generate more earnings in a few different ways. Its existing managers can generate grow their funds under management (FUM), leading to higher base management fees. Those existing fund managers can also generate performance fees if they do well for their investors.

Pacific Partners can also invest in new fund managers, such as the new investment called Astarte Capital Partners which is a London-based alternative investment manager focused on private markets real asset strategies. It provides seed capital, working capital and strategic support to operating experts and emerging investment managers to support growth. Pacific said that this business has considerable business momentum.

The ASX share is expecting fundraising to accelerate (and therefore higher commission fees too) over the next year or two as COVID-impacts subside. It's also expecting higher management fee profitability.

In FY21, Ord Minnett is expecting Pacific Partners to generate $0.55 of earnings per share (EPS), which means the share price is valued at 10x FY21's estimated earnings. It also has a trailing grossed-up dividend yield of 8.8%.

Motley Fool contributor Tristan Harrison owns shares of PACCURRENT FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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