Trading Places: Fund managers are scrambling to buy education stocks
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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.
In recent days a popular industry among fund managers and notable investors has been the education space.
Geoff Wilson-headed Wilson Asset Management accumulated a 5.15 per cent stake in Evolve Education (ASX:EVO), which is dual listed on the New Zealand Exchange. Wilson entities spent just over $3m to take itself over the substantial holder threshold.
Another trade with a Kiwi flavour was Auckland’s Pie Funds Management taking its stake in Australian childcare operator Kip McGrath (ASX:KME) to nearly 20 per cent after spending nearly $6m.
Australian Ethical Investment topped up its stake in Mathletics & Spellodrome operator 3P Learning (ASX:3PL) to over 15 per cent.
Meanwhile, Pendal and Perpetual took their stake in educational program operator RedHill Education (ASX:RDH) to just under 25 per cent collectively.
Race Oncology’s (ASX:RAC) chief scientific officer Daniel Tillett sent his company higher last year with his first buy into the stock and later on taking his current position.
Now he’s become a substantial holder of another stock: software-as-a-service (SaaS) and Internet of Things (IoT) play Simble Solutions (ASX:SIS). He now holds a 5.95 per cent stake after dropping a further $96,425 on the stock.
Other notable trades included Wilson increasing its stake in fitness centre operator Viva Leisure (ASX:VVA) to 5.25 per cent, and Alex Waislitz’s Thorney Technologies topping up its stakes in airport shuttle booking servie Jayride (ASX:JAY) and sleep apnoea fighter Oventus Medical (ASX:OVN).
Despite the recent excitement about the uranium sector, Eric Sprott’s investment group cut its stake in Namibia-focused Deep Yellow (ASX:DYL) to 10.5 per cent.