I like to keep an eye on substantial shareholder notices. This is because these notices give you an idea of which shares large investors, asset managers, and investment funds are buying or selling.
Two notices that have caught my eye are summarised below. Here’s what these fund managers have been buying:
BWX Ltd (ASX: BWX)
A notice of change of interests of substantial holder reveals that Eley Griffiths has been increasing its stake in this personal care products company. According to the notice, the specialist investment management company has added a total of 1,655,004 shares to its holding in recent months. This has taken its stake to 8,507,443 shares, which lifts its interest from 5.04% to 6.06%.
One broker that would approve of these investments is Macquarie. Earlier this month the broker retained its outperform rating and lifted its price target to $5.30. This compares to the current BWX share price of $4.35. Macquarie appears to see promise in the company’s partnership with Chemist Warehouse and its expansion in the supermarket channel with a deal with Woolworths Group Ltd (ASX: WOW).
Redbubble Ltd (ASX: RBL)
According to a notice of initial substantial holder, Kayne Anderson Rudnick (KAR) Investment Management has been building a position in this ecommerce company over the last few months. The notice reveals that the LA-based investment firm started buying Redbubble shares on 24 February and was still doing so as recently as last week. KAR Investment Management now owns a total of 13,881,972 shares, which equates to a 5.07% interest.
Judging by its purchases, it appears to believe the recent weakness in the Redbubble share price is a buying opportunity. One broker that would agree with this is Morgans. Last month the broker put an add rating and $6.64 price target on its shares. This compares to the latest Redbubble share price os $5.05.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
More reading
- 2 ASX tech shares to buy in April 2021
- Is Temple & Webster (ASX:TPW) the best e-commerce ASX share to buy right now?
- ASX 200 crash anniversary: 5 of the best performing shares of the last 12 months
- Top brokers name 3 ASX shares to buy today
- Got cash to invest? Here are 2 ASX shares to buy
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Fund managers have been buying Redbubble Ltd (ASX:RBL) and this ASX share appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3doSHxo
Leave a Reply