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 focusing on fund managers.
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.
Last week online market place Redbubble (ASX:RBL) nearly halved after a negative trading update. This followed a stellar run over the proceeding few months.
Perennial Value Management took the chance to buy in and accumulated a 5.17 per cent stake. It also increased its stake in enviro-tech stock De.Mem (ASX:DEM) and now owns a 14.93 per cent stake
Dean Fergie’s Cyan Investment Management became a substantial holder of ed-tech Schrole Group (ASX:SCL). Its signature product is an online recruitment platform focused on international schools.
Speaking of tech stocks, cloud software licensing firm Rhipe (ASX:RHP) saw Australian Ethical Investment take a 5.07 per cent stake.
Alex Waislitz’s Thorney Opportunities bought into Consolidated Operations Group (ASX:COG) and Wellness and Beauty Solutions (ASX:WNB) this week.
Merchant Funds Management increased its holdings in Family Insights Group (ASX:FAM) and Santana Minerals (ASX:SMI).
Botanix Pharmaceuticals (ASX:BOT) has not recovered since a poor clinical trial for its anti-acne skin cream. Gayle McGarry sold around $1.3m in the immediate aftermath and was diluted this week.
Perennial reduced its holdings in 3P Learning (ASX:3PL), while Hyperion Asset Management ceased to be substantial holders of Class (ASX:CL1).
Meanwhile, Regal Funds Management cut its stake in Wellness & Beauty Solutions (ASX:WNB) to 7.42 per cent.