There's a big bandwagon for Reopening trades (Image via Getty)
Trading Places: Who’s onboard the bandwagon of reopening trades?
News
share
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 |
|---|---|---|---|---|---|
| Straker Translations | STG | $121.5M | Australian Ethical | 5.77% | Becoming |
| K-TIG | KTG | $52.4M | Alium Alpha Fund | 10.77% | Increasing |
| AMA Group | AMA | $313.5M | MA Financial | 6.25% | Increasing |
| Ecofibre | EOF | $276.2M | Perennial | 6.46% | Becoming |
| Powerhouse Ventures | PVL | $7.9M | Capital H Management | 13.60% | Increasing |
| Bowen Coking Coal | BCB | $206.2M | Cape Coal | 10.50% | Increasing |
| Doriemus | DOR | $35.5M | Inyati Fund | 8.05% | Increasing |
| JBHifi | JBH | $5.3M | AustralianSuper | 12.14% | Increasing |
| Vonex | VN8 | $40.1M | Regal Funds Management | 9.92% | Becoming |
| Cooper Energy | COE | $375.1M | L1 Capital | 14.03% | Increasing |
| Chorus | CNU | $3.2B | L1 Capital | 9.96% | Increasing |
| TNT Mines | TIN | $24.6M | Anthony Barton | 6.66% | Increasing |
| The Environmental Group | TEG | $22.6M | Capital H Management | 5.80% | Becoming |
| Coda Minerals | COD | $97.8M | Sprott | 6.79% | Increasing |
| FYI Resources | FYI | $253.2M | Perennial | 5.01% | Becoming |
| Top Shelf International | TSI | $77.2M | Copia Investment Partners | 7.17% | Increasing |
| Mach7 Technologies | M7T | $249.7M | Australian Ethical | 10.31% | Increasing |
| McPhersons | MCP | $138.9M | Australian Ethical | 6.03% | Increasing |
| Fertoz | FTZ | $99.2M | Stephens Group | 9.60% | Increasing |
| Bowen Coking Coal | BCB | $218.2M | Nicholas Jorss | 5.45% | Increasing |
| Downer EDI | DOW | $4.5B | Aware Super | 5.01% | Becoming |
| Global Data Centre | GDC | $133.2M | Regal Funds Management | 9.69% | Becoming |
| Jayride | JAY | $37.9M | Thorney Technologies | 19.42% | Increasing |
| Atlas Arteria | ALX | $6.4B | Pinnacle | 5.02% | Becoming |
| iCar Asia | ICQ | $215.9M | Collins St Asset Management | 9.20% | Increasing |
| Universal Store | UNI | $552.6M | Wilson Asset Management | 5.26% | Becoming |
| Atomos | AMS | $387.8M | Wilson Asset Management | 5.08% | Becoming |
| Integral Diagnostics | IDX | $902.5M | Perennial | 5.04% | Becoming |
| Baby Bunting | BBN | $695.7M | AustralianSuper | 13.65% | Increasing |
| McGrath | MEA | $85.9M | Wilson Asset Management | 6.12% | Becoming |
| Atrum Coal | ATU | $23.6M | Regal Funds Management | 6.76% | Becoming |
| Reckon | RKN | $118.4M | Spheria Asset Management | 9.09% | Becoming |
| City Chic Collective | CCX | $1.5B | Paradice Investment Management | 5.12% | Becoming |
| Santos | STO | $12.6B | Challenger | 5.15% | Becoming |
| Powerhouse Ventures | PVL | $8.5M | Capital H Management | 18.26% | Increasing |
| Selfwealth | SFW | $92.1M | Anthony Woolley | 5.10% | Becoming |
| Bravura Solution | BVS | $784.1M | Australian Ethical | 6.06% | Increasing |
| PointsBet | PBH | $2.5B | Penn Interactive Ventures | 6.27% | Becoming |
| Imricor Medical Systems | IMR | $142.1M | One Funds Management | 5.05% | Becoming |
| Karoon Energy | KAR | $731.8M | L1 Capital | 8.35% | Increasing |
| Perenti | PRN | $638.4M | L1 Capital | 10.94% | Increasing |
The easing of COVID-19 restrictions in the northern hemisphere has given rise to trades described as “reopening trades”.
Wilson Asset Management became a substantial holder of fashion retailer Universal Store (ASX:UNI) and camera add-on maker Atomos (ASX:AMS).
Paradice Investment Management bought into another fashion retailer City Chic Collective (ASX:CCX), making $32.2 million in share purchases since May.
Spheria Asset Management bought into accounting software company Reckon (ASX:RKN) taking a 9% stake for nearly $5.9 million.
Thorney Technologies’ reopening trades involved increasing its substantial holding in airport shuttle marketplace Jayride (ASX:JAY) while Collins St Asset Management bought more of online vehicle marketplace iCar Asia (ASX:ICQ)
AustralianSuper increased its holdings in retailers Baby Bunting (ASX:BBN) and JB Hi-Fi (ASX:JBH).
L1 Capital was one fund manager with a focus on energy and resources in recent days with its trades including Cooper Energy (ASX:COE), Karoon Energy (ASX:KAR) and Perenti (ASX:PRN).
Sellers
| Company | Code | Market Cap | Holder | Current Stake | Status |
|---|---|---|---|---|---|
| PSC Insurance Group | PSI | $1.4B | Ethical Partners Funds Management | <5% | Ceasing |
| OFX | OFX | $408.8M | HESTA | <5% | Ceasing |
| Tinybeans | TNY | $52.1M | Stephen O'Young | 8.20% | Decreasing |
| MoneyMe | MME | $380.6M | Perennial | 9.19% | Decreasing |
| RPMGlobal | RUL | $424.8M | Perennial | 5.41% | Decreasing |
| Cogstate | COG | $244.5M | Fidelity | 5.76% | Decreasing |
| Base Resources | BSE | $382.9M | Fidelity | 7.22% | Decreasing |
| Austin Engineering | ANG | $130.5M | Spheria Asset Management | 9.43% | Decreasing |
| Swick Mining | SWK | $67.7M | Perennial | 12.38% | Decreasing |
| Empired | EPD | $212.4M | Microequities | 9.65% | Decreasing |
| HiPages | HPG | $507.1M | Australian Ethical | <5% | Ceasing |
| AML3D | AL3 | $17.4M | Perennial | <5% | Decreasing |
| MSL Solutions | MSL | $68.1M | Forager Funds Management | 6.24% | Decreasing |
| Mosaic Brands | MOZ | $57.5M | Perpetual | 12.07% | Decreasing |
| Beston Global Food | BFC | $66.5M | Wilson Asset Management | 6.53% | Decreasing |
| HRL Holdings | HNG | $56.9M | Viburnum Funds | 7.65% | Decreasing |
| Hub24 | HUB | $2.0B | ECP Asset Management | 7.70% | Decreasing |
| Adherium | ADR | $38.4M | Regal Funds Management | 7.37% | Decreasing |
| Deterra Royalties | DRR | $2.1B | Schroder | <5% | Ceasing |
| Fletcher Building | FBU | $6.0B | Schroder | <5% | Ceasing |
| Ridley Corp | RID | $428.2M | Schroder | 7.43% | Decreasing |
Fidelity and Schroder made a number of sell-downs including CogState (ASX:CGS) and Base Resources (ASX:BSE) for Fidelity while Deterra Royalties (ASX:DRR) and Ridley (ASX:RID) were Schroder sales.
Perennial sell-downs included industrial welding company AML3D (ASX:AL3) and mining services company RPM Global (ASX:RPM).
