Trading Places: Here are this week’s substantial holder movements
Trading Places - Tourists put their money into a fountain, municipal workers take them to the zoo.
Trading Places is Stockhead’s weekly recap of substantial holder movements among ASX small caps, and fund managers feature prominently in this week’s edition.
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
| Company | Code | Market Cap | Holder | Stake | Status |
|---|---|---|---|---|---|
| Cooper Energy | COE | $894.7M | Pendal Group | 5.21% | Becoming |
| Superloop | SLC | $320.1M | Perennial Value Management | 7.65% | Increasing |
| Gage Roads Brewing | GRB | $78.0M | Perennial Value Management | 10.06% | Increasing |
| PTB Group | PTB | $61.4M | Asir and Nek Private | 14.62% | Increasing |
| GTN | GTN | $183.0M | Viburnum Funds | 22.00% | Increasing |
| Technology Metals | TMT | $12.3M | Chris Retzos | 6.69% | Increasing |
| Terragen Holdings | TGH | $33.6M | One Funds Management | 6.73% | Increasing |
| Energy Resources of Australia | ERA | $554.3M | Packer & Co Ltd | 6.94% | Becoming |
| 8common | 8CO | $13.7M | Kah Wui Lim | 14.50% | Increasing |
| National Veterinary Care | NVL | $246.4M | Lakeville Capital Management | 5.34% | Becoming |
| BSA | BSA | $168.5M | Naos Asset Management | 22.94% | Increasing |
| Experience Co | EXP | $116.7M | Naos Asset Management | 13.66% | Increasing |
| Mosaic Brands | MOZ | $165.6M | Perpetual | 10.26% | Increasing |
| SmartGroup | SIQ | $925.5M | Ethical Partners Funds Management | 5.33% | Becoming |
| Aurora Labs | A3D | $16.6M | Equities First Holdings | 7.69% | Becoming |
| Sigma Healthcare | SIG | $630.3M | Allan Gray | 10.38% | Increasing |
| Straker Translations | STG | $62.7M | Perennial Value Management | 6.15% | Increasing |
| Tinybeans | TNY | $63.5M | Thorney Opportunities | 6.78% | Becoming |
| MyFiziq | MYQ | $25.0M | The Rain Maker | 9.80% | Increasing |
| Blackearth Minerals | BEM | $4.8M | Lithium Australia | 10.65% | Increasing |
| Norwood Systems | NOR | $14.2M | Apsec Funds Management | 9.30% | Increasing |
| CFOAM | CFO | $14.2M | William Rouse | 6.68% | Becoming |
| UCW | UCW | $28.2M | Viburnum Funds | 10.84% | Increasing |
| Cazaly Resources | CAZ | $7.6M | Anthony Ramage | 5.35% | Becoming |
| RPMGlobal | RUL | $249.7M | Forager Funds | 6.70% | Increasing |
| IXUP | IXU | $11.3M | Joscelyne Investments | 14.01% | Increasing |
| Environmental Clean Technologies | ECT | $2.4M | Challenge Bricks and Roofing | 10.67% | Becoming |
| Environmental Clean Technologies | ECT | $2.4M | LJ & K Thomson | 15.03% | Increasing |
| Creso Pharma | CPH | $24.2M | Jamber Investments | 11.24% | Increasing |
| Pure Alumina | PUA | $3.3M | Keith Knowles | 5.10% | Becoming |
| Southern Cross Media | SXL | $578.3M | Allan Gray | 14.78% | Increasing |
| Castile Resources | CST | $32.0M | Paradice Investment Management | 5.13% | Becoming |
| Austin Engineering | ANG | $115.8M | Moelis | 5.05% | Becoming |
| CFOAM | CFO | $14.2M | Muhammad Quabbaj | 12.53% | Becoming |
Next Friday is the deadline for ASX-listed companies to lodge unaudited half-yearly results, or full year if they use the calendar year. Results often prompt buying and selling in stocks.
The bulk of results are yet to come but a few early releases have resulted in some fund managers topping up.
Most notably, Perennial Value Management hiked its positions in tech company Superloop (ASX:SLC) and Gage Roads Brewing (ASX:GRB).
What was more common in the last week was capital raisings, which provided some breathing space for those that raised cash.
Alex Waislitz’s investment vehicle, Thorney Opportunities, bought a 6.78 per cent stake in family-focused social media platform Tinybeans (ASX:TNY). The company raised $11m to buy a US-based parenting website it hopes will complement its own offerings.
Paradice Investment Management bought into newly listed Castile Resources (ASX:CST), snapping up a 5.13 per cent stake. The substantial notice form shows the fund bought on market last Friday.
Ethical Partners Funds Management acquired a 5.33 per cent stake in employee management platform SmartGroup (ASX:SIQ).
Sellers
| Company | Code | Market Cap | Holder | Current Stake | Status |
|---|---|---|---|---|---|
| ImpediMed | IPD | $50.1M | Allan Gray Australia | 13.41% | Decreasing |
| Stavely Minerals | SVY | $149.7M | Greenstone Property | 6.14% | Decreasing |
| Wisr | WZR | $304.1M | Adcock Private Equity | 24.91% | Decreasing |
| Adairs | ADH | $422.7M | Brett Blundy | 8.10% | Decreasing |
| IVE Group | IGL | $346.8M | Vinva Asset Management | 4.96% | Ceasing |
| RPM Global | RPM | $16.2M | Perennial Value Management | 9.41% | Decreasing |
| McPhersons | MCP | $330.2M | Investors Mutual | 8.18% | Decreasing |
| Empired | EPD | $62.4M | Australian Ethical Investment | 15% | Decreasing |
| Energy Resources of Australia | ERA | $553.7M | Zentree Investments | 11.06% | Decreasing |
| Avita Medical | AVH | $1.7B | Blackcrane Capital | 4.60% | Ceasing |
| QUANTM Intellectual | QIP | $173.0M | Perpetual | 3.82% | Ceasing |
| Praemium | PPS | $183.8M | Milford Asset Management | 4.45% | Ceasing |
| Oncosil | OSL | $97.8M | Regal Funds Management | 5.49% | Decreasing |
| Metgasco | MEL | $17.2M | M&A Advisory | 0.00% | Ceasing |
| Mitchell Services | MSV | $123.5M | Washington H Soul Pattinson & Co | 5.91% | Decreasing |
One of the last year’s most successful tech stocks is neolender Wisr (ASX:WZR). It climbed from 5c 12 months ago to 28c yesterday. Substantial holder Adcock Private Equity cashed out some of its holdings, reducing its stake to 24.9 per cent.
A number of health stocks made the sellers list this week including now large cap Avita Medical (ASX:AVH), Impedimed (ASX:IPD) and Oncosil (ASX:OSL).
Among resources stocks, Greenstone Property cut its stake in Stavely Minerals (ASX:SVY) which made a very high-grade copper hit (40 per cent) last year.
In the next month it climbed from just over 20c to as high as $1.33. But it has gradually retreated and now sits at 69c.
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