Trading Places: The stocks fund managers were buying in the last week
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It may seem retail investors are buying nothing but stocks getting into hand sanitisers. But the fund managers are heading in a different direction for a bargain.
In Trading Places, Stockhead recaps substantial holder movements among ASX small caps in the last week.
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.
Perennial Value Management bought shares in several companies in the past week. Furniture and homeware retailer Adairs (ASX:ADH) was the only stock in which it crossed the 5 per cent threshold for the first time.
Another big buyer was Regal Funds Management. It now has a 5.96 per cent stake in cloud software stock Rhipe (ASX:RHP) and an 8.3 per cent stake in Queensland-focused oil and gas stock Senex Energy (ASX:SXY).
Saudi Arabian investor Mithaq Capital topped up its holdings in goat infant formula stock Nuchev (ASX:NUC), and now owns over 18 per cent
Australian Ethical Investment increased its holdings in Nitro Software (ASX:NTO) to 6.84 per cent and Alex Waislitz’s Thorney Opportunities took its holdings in marine services provider MMA Offshore (ASX:MRM) to 8.49 per cent.
One of the few shining lights in the current market has been the odd takeover offer. One target was Zenith Energy (ASX:ZEN). Pendal has begun selling some of its holdings, cutting its stake to 5.62 per cent.
Meanwhile, Paradice Investment Management sold out of land surveyor Veris (ASX:VRS).