Trading Places: The substantial holders that bought and sold shares last week
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In this week’s recap of substantial holder movements a new investor bought $1m in Yowie (ASX:YOW) shares, various fund managers responded to Opthea’s (ASX:OPT) developments and Regal Funds Management buys into Spirit Telecom (ASX:ST1).
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.
The performance of Uniti Wireless (ASX: UWL) since listing would suggest telecommunications is a hot sector. Spirit Telecom has gained over 100 per cent but has only gained back ground it lost during last year’s fourth quarter market downturn.
Regal Funds Management has bought a 5.03 per cent stake in the company. It has accumulated this stake across the last three months – spending nearly $3.9m; and crossed the threshold last week.
Regal also bought more Opthea shares and now owns 11.55 per cent – this ‘top up’ cost $8m. Another firm that bought into Opthea was KiFin, taking a 5.36 per cent stake. This is the private investment vehicle of South African billionaire Nathan Kirsh.
Speaking of eye-care companies, Ellex (ASX:ELX) is another and it welcomed Jencay Capital, which bought a 5.52 per cent stake. Also buying Ellex stock was existing substantial holder Australian Ethical Investments, which now has 9.58 per cent.
PR Company Enero Group (ASX:EGG) welcomed Wilson Asset Management as a substantial holder. It bought a 6.28 per cent stake.
Chocolatier Yowie saw investor Troy Harry take a 5.33 per cent stake, costing $990,000. His vehicle is Trojan investment management, although it is a different company, Norfolk Enchants, that holds it as custodian for his personal retirement fund.
Gold explorer De Grey Mining (ASX:DEG) had two investors increase their holdings – Regal Funds Management and DGO Gold. The latter, a fellow gold explorer, spent over $2m and quadrupled its holdings in the company.
Indiana Resources (ASX:IDA) chair Bronwyn Barnes became a substantial shareholder after tipping in $183,106 to acquire a 5.94 per cent stake.
Paradice Investment Management increased its stake in almond-producer Select Harvests (ASX:SHV) to 7.07 per cent – spending $7.2m. The company’s most recent half yearly profit was $20m. It gave an update only yesterday that its yields are performing even better than last year.
The one substantial holder that completely sold its holdings was Walker Group (the company of property magnate Lang Walker) which sold out of BTC Health (ASX: TC) for $1.3m.
Malaysian investor AIMS Asset Management ceased to be a substantial holder in gold explorer Red 5 (ASX:RED). It sold $4m worth of shares this month.
While other fund managers bought Opthea, BVF Partners cashed out some of its earnings, $38m approximately but it still owns 9.45 per cent.