Trading Places: Regal has sunk another $3.2m into this small cap telco

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.

Buyers

Last year’s most successful group was telco Uniti Group (ASX:UWL), which expanded following several acquisitions. One target was fellow listed telco Spirit Telecom (ASX:ST1), which said no and went on a buying spree of its own.

Despite the challenging macroeconomic environment, Spirit reported a record trading result last month. It made $14.3m in revenue between January and April this year — double that booked in the same period last year.

One of Spirit’s institutional investors, Regal Funds Management took its stake to 15.2 per cent after buying another parcel of shares worth $3.2m.

Regal also bought more shares in hand sanitiser maker Zoono (ASX:ZNO) and now owns 10.18 per cent. Since late February it has made 1.65 million in net buys at varying market prices between $1.28 and $2.28 per share.

In our last Trading Places column we reported that well known mining investor Tolga Kumova had bought into gold junior Riversgold (ASX:RGL). 

Since then he bought another package of shares, worth $124,266 taking his stake to 7.36 per cent. Kumova also topped up his holdings in Pure Alumina (ASX:PUA) to 8.58 per cent after dropping another $54k on the stock.

Timothy Goyder took his stake in lithium play Liontown Resources (ASX:LTR) to nearly 18 per cent with a buy of just under $300,000 worth of shares.

Alex Waislitz’s investment vehicle, Thorney Technologies, bought shares in tech plays Jayride Group (ASX:JAY) and OneVue Holdings (ASX:OVH). The latter of these stocks got a takeover offer on Monday and appears keen to accept the deal.

Samuel Terry Asset Management took its stake in Kangaroo Island Plantation (ASX:KPT) to 26.3 per cent. No small cap was hit by the summer’s bushfires worse than this one losing much of its land on the island that it is named after.

But hopes are high it can rebuild. As of yesterday it has received $30m in insurance payments.

Sellers

Sales by Regal Funds Management included discount retailer The Reject Shop (ASX:TRS) and optometry play Visioneering Technologies (ASX:VTI).

Perennial Value Management’s most notable sales included almost all of its holdings in homewares seller Adairs (ASX:ADH).

It also sold shares in Redbubble (ASX:RBL) while remaining above the 5 per cent threshold.

One particularly notable sale was in micro-cap explorer Gladiator Resources (ASX:GLA). Parry Capital Management, sold its entire 8 per cent stake on market last Thursday, giving other investors the opportunity to buy in and the stock doubled.