Trading Places: Perennial Value Management bought over 8pc of the ASX’s only smart homes stock
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If you want to know where famous investors and fund managers such as Perennial Value Management are putting their money, we’ve been keeping track of substantial holder buys (and sells).
Trading Places is Stockhead’s recap of the substantial holder movements among ASX small caps over the last fortnight.
Substantial shareholders are those holding 5 per cent or more of a company’s shares — 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, as well as any change in their holdings while they remain above 5 per cent.
Perennial bought an 8.32 per cent stake in Quantify, forking out $1.25 million.
The buy in occurred only a few weeks after Quantify undertook a share consolidation and an $4.8 million acquisition of private smart home company GSM.
Quantify projects by 2025, 49 per cent of Australian houses will have some type of smart home device. It told shareholders the deal would create “Australia’s leading electrical Internet of Things provider”.
Speaking of stocks that are unique, Chicago-based hedge fund Goudy Park Management took its stake in Dragontail Systems (ASX:DTS) which is the ASX’s only “food delivery tech” stock. Australian Ethical topped up its holdings in eye care company Nova Eye Medical (ASX:EYE).
Challenger bought more of the ASX’s newest broadband stock Aussie Broadband (ASX:ABB) – now owning 7 per cent.
Among resources juniors, stocks that welcomed new substantial holders include copper play Aeris Resources (ASX:AIS) which welcomed Paradice Investment Management and Chesser Resources (ASX:CHZ) which welcomed 1832 Asset Management.
Spheria Asset Management sold its entire stake in theme park operator and takeover target Village Roadshow (ASX:VRL), netting approximately $50 million.