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Trading Places: Here are this week’s substantial holder movements
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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.
