Trading Places: Guess how much this shareholder made out of Rhythm Biosciences in just 4 months
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If you to know where fund managers and investors (the famous and the unknown alike) are putting their money, we’ve been keeping track of substantial holder buys and sells.
Trading Places is Stockhead’s recap of the substantial holder movements among ASX small caps over the last fortnight.
Substantial shareholders are those holding 5 per cent or more of a company’s shares — these can be directors, individual investors, or institutional investors.
Shareholders are required to announce to the exchange when they cross above or below the 5 per cent threshold, as well as any change in their holdings while they remain above 5 per cent.
Sellers
| Company | Code | Market Cap | Holder | Current Stake | Status |
|---|---|---|---|---|---|
| NZME | NZM | $134.6M | Auscap Asset Management | 12.89% | Decreasing |
| FYI Resources | FYI | $81.2M | Regal Funds Management | 7.67% | Decreasing |
| Peninsula Energy | PEN | $102.7M | Nero Resource Fund | <5% | Ceasing |
| MNF Group | MNF | $372.5M | Naos Asset Management | <5% | Ceasing |
| iSentia | ISD | $27.2M | DUMAC | 6% | Decreasing |
| Cellnet Group | CLT | $28.2M | Thundering Herd | 7.91% | Decreasing |
| Venture Minerals | VMS | $86.7M | Republic Investment Management | <5% | Ceasing |
| Impedimed | IPD | $163.2M | Australian Ethical | <5% | Ceasing |
| Elementos | ELT | $29.2M | Mark Wellings | 11.93% | Decreasing |
| Easton Investments | EAS | $43.3M | Pie Funds Management | 6.22% | Decreasing |
| Rhythm Biosciences | RHY | $227.7M | Loumea Investments | 5.48% | Decreasing |
| Antisense Therapeutics | ANP | $103.3M | Platinum Investment Management | <5% | Ceasing |
This week’s most notable trade was a sale made by a shareholder of Rhythm Biosciences (ASX:RHY) which is developing a colorectal cancer detection kit that it hopes to be cheaper, more effective and less invasive than the faecal test run by the government.
Rhythm listed in 2017 and for a couple of years it wasn’t clear if the company was going anywhere. But that’s changed this year and shares have rocketed from under 5 cents to over $1.10.
One of Rhythm’s largest shareholders, Loumea Investments (a private investment company in Melbourne owned by Richard Vom), lodged its latest substantial holder notice earlier this week. Over the last four months it has parted with 2,754,346 shares for over $1.2 million.
Loumea has long been a Rhythm shareholder but last topped up its holding with a purchase of six million shares back on September 3 for $360,000 – at 6 cents per share. The former parcel would have cost $165,261 – representing a gain of over 600 per cent.
Other notable sales included Nero Resources Fund ceasing to be a substantial holder of uranium play Peninsula Energy (ASX:PEN) and Auscap Asset Management cutting its stake in New Zealand Media and Entertainment (ASX:NZM) to just under 13 per cent.
Buyers
| Company | Code | Market Cap | Holder | Stake | Status |
|---|---|---|---|---|---|
| Scout Security | SCT | $16.2M | EGP Capital | 7.13% | Increasing |
| Rincon Resources | RCR | $22.3M | Geoff McNamara | 5.65% | Becoming |
| Catalyst Metals | CYL | $202.3M | Gina Rinehart | 13.59% | Increasing |
| Exopharm | EX1 | $76.0M | Carl Charalambous | 6.08% | Increasing |
| Pivotal Systems | PVS | $116.6M | Viburnum Funds | 7.13% | Increasing |
| Catalyst Metals | CYL | $202.3M | Drill Investments | 8.02% | Increasing |
| Red Sky Energy | ROG | $3.6M | Abacus Enterprises | 5.12% | Increasing |
| Viking Mines | VKA | $15.8M | Raymond Whitten | 13.07% | Increasing |
| Somnomed | SOM | $182.0M | Fidelity | 7.29% | Increasing |
| Catalyst Metals | CYL | $202.3M | Bianca Rinehart | 13.59% | Increasing |
| Betmakers | BET | $472.5M | Tekkorp Holdings | 16.79% | Increasing |
| Viking Mines | VKA | $15.8M | Syracuse Capital | 8.79% | Increasing |
| FBR | FBR | $95.9M | Mark Pivac | 15.29% | Increasing |
| Australian Agricultural Projects | AAP | $7.3M | Challis Family | 12.19% | Increasing |
| Karoon Energy | KAR | $620.1M | Aviva Investors | 6.37% | Increasing |
| SenSen Networks | SNS | $101.0M | VGI Partners | 7.72% | Becoming |
| Shroro Pacific | SHM | $83.2M | D2A Holdings HK | 19.89% | Becoming |
| Golden Cross Resources | GCR | $1.9M | Oceanic Universal | 5.90% | Becoming |
| IPB Petroleum | IPB | $11.8M | Philip Smith | 10.35% | Increasing |
| Pacific Current Group | PAC | $320.2M | Fidelity | 9.52% | Increasing |
| RedHill Education | RDH | $47.8M | UCW | 22.45% | Increasing |
| JCurve Solutions | JCS | $9.9M | Philip Ewart | 14.88% | Increasing |
| Lifespot Health | LSH | $14.0M | Cannvalata | 19.21% | Increasing |
| Thorn Group | TGA | $83.0M | Somers | 33.50% | Increasing |
| QuickFee | QFE | $88.9M | Thorney Opportunities | 11.36% | Increasing |
| TZL | TZL | $9.1M | SG Hiscock | 8.54% | Increasing |
| Design Milk | DMC | $9.8M | Bombora | 14.54% | Increasing |
| Nuheara | NUH | $87.9M | Perennial Value Management | 7.98% | Becoming |
| Impedimed | IPD | $169.5M | Paradice Investment Management | 8.20% | Increasing |
| Urbanise | UBN | $65.9M | Australian Ethical | 9.90% | Increasing |
| Sacgasco | SGC | $26.6M | Kenneth Baker | 5.00% | Becoming |
| iSentia Group | ISD | $33.2M | Spheria Asset Management | 19.89% | Increasing |
Moving on to the buyers and this week’s most notable buy was made by Perennial Value Management.
It became a substantial holder of smart hearing device creator and retailer Nuheara (ASX:NUH), owning just under 8 per cent.
Perennial quickly accumulated the stake through two trades back on January 7 totalling over $6 million.
Alex Waislitz’s Thorney Opportunities now owns 11.36 per cent of fintech QuickFee (ASX:QFE) , which helps lawyers and accountants get paid.
Australian Ethical increased its stake in cloud platform Urbanise (ASX: UBN) to 9.9 per cent.
