Marley spoon (ASX:MMM) shares have crashed recently but Perennial tips they'll bounce back (Image via Getty)
Trading Places: Which fund manager is backing Marley Spoon shares to bounce back?
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Trading Places is Stockhead’s recap of the buys and sells of ASX small cap shares by fund managers and other famous investors over the last fortnight.
Specifically, Stockhead tracks substantial shareholder movements, being shareholders 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.
Buyers
| Company | Code | Market Cap | Holder | Stake | Status |
|---|---|---|---|---|---|
| Virtus Health | VRT | $461.9M | Wilson Asset Management | 7.67% | Increasing |
| Star Entertainment | SGR | $3.7B | Cooper Investors | 5.56% | Becoming |
| Registry Direct | RD1 | $10.6M | Roe Superannuation Fund | 21.43% | Increasing |
| Anteris Technologies | ATR | $49.0M | L1 Capital | 7.16% | Becoming |
| XTek | XTE | $27.0M | UDB - Uwe Boettcher | 7.54% | Increasing |
| Trigg Mining | TMG | $9.2M | Michael Ralston | 5.20% | Becoming |
| Complii Fintech | CF1 | $12.1M | Herbert Solomon | 6.68% | Becoming |
| XTek | XTE | $27.0M | Finexia Securities | 5.92% | Becoming |
| Northern Minerals | NTU | $262.2M | Africa Changcheng Mining | 9.60% | Increasing |
| Terracom | TER | $139.4M | Thorney Opportunities | 10.85% | Increasing |
| Impedimed | IPD | $269.5M | Paradice Investment Management | 8.36% | Increasing |
| Coda Minerals | COD | $80.9M | Regal Funds Management | 8.44% | Increasing |
| Murray Cod | MCA | $212.0M | AustralianSuper | 10.67% | Increasing |
| QBE | QBE | $17.9B | AustralianSuper | 7.37% | Increasing |
| Hotel Property Investments | HPI | $679.9M | Alceon Liquid Strategies | 12.85% | Increasing |
| Cluey | CLU | $133.6M | Milford Asset Management | 9.98% | Increasing |
| Torian Resources | TNR | $24.7M | Nova Minerals | 10.67% | Increasing |
| Vango Mining | VAN | $66.3M | Shengqiang Zhou | 7.63% | Increasing |
| Bill Identity | BID | $49.1M | Thorney Opportunities | 8.96% | Increasing |
| New Hope | NHC | $1.7B | L1 Capital | 7.79% | Increasing |
| Dominos | DMP | $10.2B | Fidelity | 5.20% | Becoming |
| Azure Minerals | AZS | $120.8M | Mark Creasy | 16.85% | Increasing |
| Western Gold Resources | WGR | $11.3M | Antelle Holdings - Tien Seng Law | 18.79% | Increasing |
| Marley Spoon | MMM | $247.2M | Perennial | 6.15% | Becoming |
| Alumina | AWC | $5.4B | Allan Gray | 13.18% | Increasing |
Few ASX shares benefited more from COVID-19 restrictions than meal kit delivery company Marley Spoon (ASX:MMM).
The closure of sit down dining outlets led to consumers turning to delivery services such as Marley Spoon and its shares grew from 25 cents to $3.55 in little under six months.
But it has crashed back to earth in 2021 as vaccination rates enabled people to dine out once more and investors have once again been worrying about its profitability.
One of the ASX’s most notable fund managers evidently isn’t, becoming a substantial holder of the company with a 6.15% stake. It purchased approximately $4.6 million in shares last Friday.
Speaking of stocks under siege, casino operator Star Entertainment Group (ASX:SGR) is another in the spotlight, currently undergoing a review of its Sydney casino licence and facing threats it won’t be renewed.
But last week it welcomed Cooper Investors which bought a 5.56% stake.
Fidelity became a substantial holder in Domino’s (ASX:DMP) – another food company which dropped recently. In Domino’s’ case it has managed to weather the pandemic but warned shareholders to brace for energy price and food cost increases to hit the company.
AustralianSuper made two top-ups of its existing holdings – insurance company QBE (ASX:QBE) and Murray Cod Australia (ASX:MCA).
Sellers
| Company | Code | Market Cap | Holder | Current Stake | Status |
|---|---|---|---|---|---|
| Pacific Current Group | PAC | $401.7M | Fidelity | 5.28% | Decreasing |
| Centrepoint Alliance | CAF | $40.3M | AP Beard Super Fund | 5.61% | Decreasing |
| Nitro Software | NTO | $745.6M | Australian Ethical | <5% | Ceasing |
| Seven West | SWM | $868.4M | Spheria | 7.71% | Decreasing |
| Monadelphous | MND | $959.8M | Pendal | <5% | Ceasing |
| Serko | SKO | $841.6M | Fisher Funds Management | 4.96% | Ceasing |
| Zelira Therapeutics | ZLD | $851.3M | Thorney | <5% | Ceasing |
| Universal Store | UNI | $595.1M | Wilson Asset Management | <5% | Ceasing |
| Iluka Resources | ILU | $3.9B | Yarra Management | 7.89% | Decreasing |
| Southern Cross Electrical Engineering | SXE | $177.8M | Thorney | 16.86% | Decreasing |
Wilson Asset Management ceased to be a substantial holder of casual fashion outlet Universal Store (ASX:UNI) – a company that has been listed for almost 12 months and has more than doubled since then.
Wilson has only been buying in since May and crossed the threshold in September, but that initial tranche of 5.26% grew in value by $2.2 million since then from $28.86 million to $30.97 million.
Spheria cut its stake in Seven West Media (ASX:SWM) despite Seven making a $131.9m bid for Prime Media (ASX:PRT).
And Australian Ethical ceased to be a substantial holder of Nitro Software (ASX:NTO).
