Trading Places: Fund managers are looking closely at eye-care hopefuls

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Want to know which stocks the fund managers have been putting their money in (and out) of? We’ve been keeping track so you don’t have to.

Trading Places is Stockhead’s recap of substantial holder movements among ASX small caps in the last fortnight.

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.

Buyers

Biotech Opthea (ASX:OPT) has shown the financial power of eyecare, with its drug passing two clinical trials against vision-loss diseases and shares surging.

This has prompted investors to look more closely at other stocks in the optometry space.

Visioneering Techology (ASX:VTI), which is similarly looking to tackle blindness but specifically in children, saw Regal Funds Management take its stake to 10.11 per cent, while Alex Waislitz’s Thorney Opportunities took its interest to nearly 29 per cent.

Last Christmas, optometry device maker Ellex Medical Lasers (ASX:ELX) revealed European play Lumibird was interested in acquiring many of its assets, but the ACCC only gave its blessing last week.

Australian Ethical Investments topped up its holdings in the company to 11.06 per cent. The fund also bought more of neurology play Cogstate (ASX:CGS), upping its holdings to 17.33 per cent, and tech play Bigtincan (ASX:BTH), which it now owns nearly 8.6 per cent of.

As for Alex Waislitz, his buys also included beseiged construction stock Decmil Group (ASX:DCG), which was left with a massive financial loss and a need to raise capital as a result of two non-paying clients.

Capital Di previously turned its initial $150k investment in Predictive Discovery (ASX:PDI) into $2m and has now increased its stake to 11.35 per cent.

New York-based investment manager Mittleman bought more of theme park operator Village Roadshow (ASX:VRL) and now owns 6.37 per cent.

Bennelong Australian Equity Partners became substantial holders of The Retail Shop (ASX:TRS), now owning over 6 per cent.

Sydney-based One Funds Management increased its holdings in tracking-tech play BlueChiip (ASX:BCT) and aquaculture stock Murray Cod Australia (ASX:MCA).

Sellers

A number of stocks with takeover bids saw shareholders sell now rather than wait several months for the deal to take effect.

Financial software firm Onevue Holdings (ASX:OVH) is all but certain to be acquired by IRESS (ASX:IRE) after the board called on shareholders to accept the offer. Moelis sold down its stake to 3.78 per cent.

Australian Ethical sold nearly all of its holdings in renewable energy stock Infigen Energy (ASX:IFN) after it got an offer from UAC.

Ellex Medical Lasers saw a sell down by fund manager Investors Mutual.

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