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Trading Places: Who wants to play with Toys’R’Us ANZ?
News
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- Toys’R’Us ANZ has a new high profile substantial shareholder as its share price seesaws in the past week
- iCollege has a new substantial shareholder as it reports positive Q1 results as international students return
- Regal Funds sells out of City Chic just as there was speculation it had moved from a short seller to long-term holder
Trading Places is Stockhead’s semi-regular, pretty damn fascinating recap of the latest red flag buying and selling of ASX stocks. It is here that the rubber really hits the road for fund managers, stakeholders, distant (and not-so-distant) relatives and other famous or infamous investors.
Specifically, Trading Places tracks substantial shareholder movements – namely when a trade in a company’s stock crosses or falls below the 5% threshold.
Substantial shareholders are usually directors, individual investors, institutional investors… or their distant (and not-so-distant) relatives, which they will refer to as listed related bodies corporate or something similar. You can see in detail these listed bodies on the company’s ASX announcement.
Shareholders are required by basic human decency (and the law) to publicly declare via the exchange when their personal stake goes below or above 5%, and from there, every movement in their holdings while owning above 5%.
The becoming and ceasing to be substantial shareholders are the ones we think are worth noting, where a trade takes an investor over the 5% threshold or has them drop back below.
Here’s the form to get you started, if reading this makes you twitchy.
Market Overview
Markets have continued their mercurial trend for 2022 with the S&P/ASX 200 ending last week around ~1% down. Investors continue to look at data points globally and at home for any signs of what interest rates, inflation and broader economies will do going forward.
On Monday, the market got off to a good start for the week with, as Stockhead’s Eddy Sunarto reported, the S&P ASX/200 closing 1.6% higher and tracking Friday’s rally on Wall Street.
Reports the Fed would soon be ready to debate on how to slow the pace of tightening after the November FOMC meeting led shares higher in the US with treasury yields falling on the news and most major currencies heading up against the USD.
Recent Buys – Tiga Trading wants to play with Toys’R’Us
| Code | Company | Market cap | Date | Holder | Holding |
|---|---|---|---|---|---|
| SWF | Selfwealth Group | $50.92M | Oct-19 | Gannet Capital as trustee for Victor Smorgon Partners Global Multi-Strategy Fund | 5.32% |
| SUH | Southern Hempishere Mining | $7.05M | Oct-19 | Jay Evan Dale Hughes | 5.16% |
| TNE | Technology One | $3.88B | Oct-19 | First Sentier Investors Holdings Pty Limited ACN 630 725 558 and its related bodies corporate | 5.12% |
| ICT | iCollege | $259.78M | Oct-18 | Wilson Asset Management Group | 5.77% |
| VVA | Viva Leisure | $102.95M | Oct-18 | Regal Funds Management Pty Ltd and its associates | 6.60% |
| APX | Appen Ltd | $320.96M | Oct-20 | Norges Bank | 5.31% |
| TOY | Toys'R'Us ANZ | $42.02M | Oct-14 | Tiga Trading Pty Ltd and each of the Thorney Investment Group entities listed | 5.06% |
Tiga Trading Pty Ltd and each of the Thorney Investment Group entities listed has become a substantial shareholder in Toys’R’Us (ASX:TOY)
Thorney Investment Group (TIG) is the private investment group of Aussie richlister Alex Waislitz. TIG also manages ASX-listed investment company Thorney Technologies (ASX:TEK) under a long-term investment agreement. According to the announcement TIG holds all the issued capital in Tiga Trading.
It has been a topsy turvy ride for TOY in the past week with as Stockhead’s Christian Edwards noted, its 35% price surge on Wednesday attracting a please explain from the ASX.
But on Friday the TOY share price fell more than 25% despite the e-commerce direct-to-consumer retailer on Friday announcing it will branch into the UK after inking an exclusive sub-licence with WH Smith High Street to trial nine Toys’R’Us store-in-store (SIS) implants.
The Toy price surged again on Monday, up ~15%.
iCollege gets new substantial shareholder
Wilson Asset Management has become a substantial shareholder in vocational training provider iCollege (ASX:ICT), which on Friday delivered favourable Q1 FY23 results on the back of a return of international students.
ICT recorded quarterly cash receipts of $27.3 million for Q1 FY23, up $23.2 million on pcp. It reported operating cash flows of $7.7 million, up $8.5 million on PCP, and a closing cash balance at the end of September 2022 of $35.2 million, including term deposits of $3.1 million, an increase of $5.0 million over the balance as at June 30, 2022.
The ICT share price has jumped 100% year to date.
Selfwealth attracts a new substantial shareholder
Gannet Capital as trustee for Victor Smorgon Partners Global Multi-Strategy Fund has become a substantial shareholder of online broker Selfwealth (ASX:SWF)
Selfwealth last week reported a record quarterly revenue for Q1 FY23, with its quarterly operating revenue increasing 24% quarter-on-quarter to $7.15m, up 30% year-on-year. Active traders on its platform increased to 127,862, with assets held on the platform increasing to $7.7 billion.
Selfwealth has implementing various technology initiatives including investing in mobile upgrades, IT enhancements and process improvements to scale its cost base and improve operating efficiency over time.
The company said in August it will “have a laser focus on the ROI on all investments to ensure continued progress on the pathway back to profitability.”
The Selfwealth share price has fallen ~32% year-to-date.
Recent Sells – Regal sells out of City Chic Collective
| Code | Company | Market Cap | Date of change | Holder |
|---|---|---|---|---|
| CCX | City Chic Collective | $287.58M | Oct-18 | Regal Funds Managment |
| MYR | Myer Holdings | $546.15M | Oct-17 | Mitsubishi UFJ Financial Group |
| BBN | Baby Bunting Group | $362.94M | Oct-19 | Superannuation and Investments HoldCo and its related bodies corporate |
| WHC | Whitehaven Coal | $10.7B | Oct-14 | State Street Corporation and subsidiaries named |
| AZJ | Aurizon Holdings | $6.47B | Oct-17 | Mitsubishi UFJ Financial Group |
| ORI | Orica | $6.19B | Oct-14 | State Street Corporation and subsidiaries named |
Regal Funds Management has sold out as a substantial shareholder in plus-sized clothing and lingerie chain City Chic Collective (ASX:CCX). The Australian reported that Regal Funds Management appeared to have moved from a short seller in City Chic to a long-term holder.
But according to an announcement lodged with the ASX Regal has now ceased to be a substantial shareholder in City Chic.
The City Chic share price has fallen ~77% year-to-date.
