Trading Places: Bevan Slattery’s $2m buy into Rent.com.au is now worth over $10m just one week later
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If you to know where fund managers and famous investors such as Bevan Slattery and Geoff Wilson 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.
The biggest trade was Bevan Slattery spending $2m for a 10 per cent stake in rental platform Rent.com.au (ASX:RNT).
Not for the first time for an ASX tech stock, Slattery’s purchase (at 5 cents per share) sent shares surging from 4 cents on Monday to over 26 cents yesterday afternoon. His stake is now worth approximately $10.4 million.
If you needed reminder of why he made that purchase he told shareholders last week, “I love disruptive platforms that have the ability to scale and Rent.com.au has great potential to achieve that goal.”
Another similar flagship purchase was made by Canadian resources investor Dundee Goodman Merchant Partners into Big River Gold (ASX:BRV). It bought a 19.4 per cent in the Brazilian focused gold play.
Turning to well known local fund managers, Perennial Value Management upped its stake of portable x-ray manufacturer Micro-X (ASX:MX1) to 12.24 per cent as well as its stake in supercomputer operator DUG Technology (ASX:DUG) to 13.87 per cent.
Regal Funds Management took its stake in pot stock Elixinol (ASX:EX1) to just over 10 per cent.
Wilson Asset Management is continuing to snap up shares of takeover target Amaysim (ASX:AYS), now owning just over 30 per cent.
And Alex Waislitz’s Thorney Technologies became a substantial holder of online K-12 tutoring company Cluey (ASX:CLU).
Regal Funds Management ceased to be substantial holders of telco Vonex (ASX:VN8) which has had a rollercoaster ride in recent days.