Trading Places: Who’s betting the COVID-19 boomers will continue to flourish?
Who's betting on a post COVID rebound? (Image via Getty)
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 |
|---|---|---|---|---|---|
| Genworth Mortgage Insurance | GMA | $911.7M | Vinva Investment Management | 5.10% | Becoming |
| K2Fly | K2F | $40.7M | Regal Funds Management | 8.06% | Increasing |
| K2Fly | K2F | $40.7M | Tribeca | 7.87% | Increasing |
| Doctor Care Anywhere | DOC | $255.6M | Perennial | 13.46% | Increasing |
| Blackstone Minerals | BSX | $134.4M | Delphi | 17.87% | Increasing |
| Tyranna Resources | TYX | $4.6M | No Bull Health | 8.44% | Becoming |
| Jervois Mining | JRV | $606.1M | AustralianSuper | 15.01% | Increasing |
| Janison Education | JAN | $188.4M | Perennial | 7.46% | Increasing |
| Variscan Mines | VAR | $16.0M | Delphi | 6.90% | Increasing |
| Mineral Commodities | MRC | $81.0M | Au Mining | 28.20% | Increasing |
| Simble Solutions | SIS | $6.9M | Daniel Tillett | 8.87% | Increasing |
| Duke Exploration | DEX | $23.9M | Keiran Slee | 7.67% | Increasing |
| Island Pharmaceuticals | ILA | $15.7M | Jason Carroll | 5.00% | Becoming |
| IPH | IPH | $1.8B | Kabouter Management | 7.55% | Increasing |
| Allegience Coal | AHQ | $193.1M | Delphi | 9.55% | Increasing |
| Stealth Global Holdings | SGI | $11.5M | Narelle Edmunds | 6.38% | Increasing |
| Coda Minerals | COD | $102.1M | Sprott | 5.33% | Becoming |
| Charter Hall Retail REIT | CQR | $2.2B | Milford Asset Management | 6.29% | Increasing |
| Collins Food | CKF | $1.3B | Milford Asset Management | 6.24% | Increasing |
| Australian Finance Group | AFG | $775.6M | Milford Asset Management | 5.04% | Becoming |
| CTI Logistics | CTI | $60.7M | Dynamic Supplies | 11.64% | Increasing |
| Southern Cross Media | SXL | $521.8M | Challenger | 5.00% | Becoming |
| The Reject Shop | TRS | $188.6M | Castle Point Funds Managament | 8.35% | Increasing |
| Athena Resources | AHN | TBD | Jason Peterson | 10.61% | Increasing |
| Marvel Gold | MVL | $28.0M | Capital Di | 13.82% | Increasing |
| Pearl Global | PG1 | $13.4M | Regal Funds Management | 7.95% | Becoming |
| iSelect | ISU | $108.3M | Microequities | 10.43% | Increasing |
| Dacian Gold | DCN | $227.4M | Perennial | 6.17% | Increasing |
| Baby Bunting | BBN | $716.4M | Bennelong Funds Management | 10.58% | Increasing |
| Enero Group | EGG | $266.9M | Perennial | 5.12% | Becoming |
| Synertec Corp | SOP | $35.7M | Perennial | 5.60% | Becoming |
| WT Financial Group | WTL | $32.3M | IFM | 6.80% | Increasing |
| Magnetic Resources | MAU | $369.2M | Dale Alcock | 10.18% | Increasing |
The past few days have seen a wide variety of trades that depict differing views as to which stocks will benefit going forward but many of them are stocks that have thrived in recent times.
One company that’s thrived through much of COVID is maternity and baby goods retailer Baby Bunting (ASX:BBN) which was allowed to stay open as an essential service.
Bennelong Funds Management paid at least $9.5 million to up its stake to over 10.5%.
Other retail purchases included Milford Asset Management topping up its stake in fast food franchise operator Collins Foods (ASX:CKF) to 6.24% while Castle Point Funds Management bought more of The Reject Shop (ASX:TRS) and now owns over 8%.
Vinva Investment Management spent $3.8 million to accumulate a 5.10% stake in Genworth Mortgage Insurance (ASX:GMA), a company for which FY21 was a bumper year in light of the property market.
In resources, one company that has been through a bumper year is Coda Minerals (ASX:COD) thanks to its IOCG discovery in South Australia. It welcomed a new substantial holder in Canadian resources investor Sprott, which has a 5.33% stake.
Marvel Gold (ASX:MVL) welcomed German institutional investor Delphi which bought a stake of over 11% in a capital raising and has further topped up its holdings to nearly 13%. Also buying was Capital Di, a Mauritian based drilling entity, which owns 13.82%.
Sellers
| Company | Code | Market Cap | Holder | Current Stake | Status |
|---|---|---|---|---|---|
| Eumundi Group | EBG | $38.2M | Ganboys | 6% | Decreasing |
| Dusk Group | DSK | $216.1M | Wilson Asset Management | <5% | Ceasing |
| Tali Digital | TD1 | $36.9M | BCCL Worldwide | 6.89% | Decreasing |
| Monash IVF | MVF | $370.2M | Perennial | <5% | Ceasing |
| Avita | AVH | $635.7M | Redmile Group | 6.70% | Decreasing |
| Temple & Webster | TPW | $1.5B | Kinderhook | 11.80% | Decreasing |
| CTI Logistics | CTI | $60.7M | Spheria Asset Management | <5% | Ceasing |
| John Lyng Group | JLG | $1.4B | QVG Capital | <5% | Ceasing |
| Estia Health | EHE | $617.0M | United Super | 7.19% | Decreasing |
| Revasum | RVS | $47.5M | Perennial | 12.50% | Decreasing |
| Atomo Diagnostics | AT1 | $92.0M | Perennial | <5% | Ceasing |
| Austin Engineering | ANG | $107.3M | Perennial | <5% | Ceasing |
| Acrow Formwork & Construction | ACF | $118.5M | Schroder | <5% | Ceasing |
| Atomos | AMS | $248.0M | Regal Funds Management | 6.84% | Decreasing |
| Alpha HPA | A4N | $384.3M | Regal Funds Management | 7.46% | Decreasing |
| MMA Offshore | MRM | $129.4M | Perennial | 5.87% | Decreasing |
| Ai-Media | AIM | $208.4M | Regal Funds Management | <5% | Ceasing |
| Tuas | TUA | $403.6M | Regal Funds Management | <5% | Ceasing |
One bet that paid off for Wilson Asset Managament was as an investor in recent listee Dusk Group (ASX:DSK), which is in the home fragrance trade.
After buying shares at the IPO and more on market despite a decline on debut, it ceased to be a substantial holder selling nearly $5 million in shares in late August.
Regal Funds Management ceased to be a substantial holder of telco Tuas (ASX:TUA) and Ai-Media (ASX:AIM).
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