Trading Places: The major investors that have bought and sold this week
Link copied to
In this week’s recap of substantial holder movements backers have included Emanuel Datt, Anthony Barton and AustralianSuper. All of these put money into mining companies in the last week.
Substantial shareholders are shareholders holding 5 per cent or more of a company’s shares and 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 and any change in their holdings while they remain above 5 per cent.
You’d probably recognised Tony Barton as CEO of King River Copper (ASX: KRC). But he also owns a stake in Spectrum Metals (ASX: SPX) which he increased to 8.5 per cent last week.
His investment has nearly doubled since then as the company announced significant gold intersections.
Another mining investor, Emanuel Datt, became a substantial holder of fellow gold explorer Yandal Resources (ASX: YRL). He bought a 7 per cent stake in the company as part of a capital raise.
Yandal’s managing director Lorry Hughes declared in its quarterly it would be “a transformational ear ahead”.
AustralianSuper bought a 5.93 per cent stake Jervois Mining (ASX: JRV) just as it completes a merger with eCobalt.
Among fund managers, Bennelong Investment Partners bought an 8.27 per cent stake in Viva Leisure (ASX: VVA) and IOOF increased its stake in satellite play Speedcast (ASX: SDA) to 12.48 per cent.
It also increased its stake in semiconductor stock Revasum (ASX: RVS) to 13.42 per cent. It has not been a happy time, having fallen over 30 per cent in its first six months after listing, but its recent quarterly has given shareholders hope it may be about to turn the corner.
Regal Funds Management increased its stake in Nickel Mines (ASX: NIC) to 8.27 per cent, putting a further $1.2 million into the company.
Remember Family Zone (ASX: FZO), that company which has a thing or two to say about mobile phone bans in schools? Regal Funds Management ceased to be a substantial holder, now only holding 4.7 per cent. It did similarly with lithium explorer Ardiden (ASX: ADV), and now holds a 4.85 per cent stake.
Perpetual decreased its stake in Shaver Shop (ASX: SSG) to 13.28 per cent and Challenger completely sold out of Speedcast (ASX: SDA).
As we covered a few weeks ago, SDA crashed to a record low after an earnings downgrade. Other holders, such as UK hedge fund Portsea Asset Management, responded by buying more despite losing tens of millions.
Challenger, however, sold out last Friday – to the tune of $41 million.