I like to keep an eye on the substantial shareholder notices that are released to the ASX. 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 this week are summarised below. Here’s what these fund managers have been buying:
Audinate Group Ltd (ASX: AD8)
A change of interests of substantial holder notice reveals that a leading fund manager has taken advantage of recent share price weakness to top up its position in this digital audio networking technology provider. According to the notice, Australian Super has picked up an additional ~900,000 Audinate shares, lifting its stake to a total of 4,359,029 shares. This equates to a 6.42% interest in the company.
The super fund has been buying shares consistently since March and as recently as 23 July when it paid an average of $5.40 for 256,196 shares. The Audinate share price is down 43% from its 52-week high after the pandemic caused demand for its products to collapse. Judging by its investment, Australian Super appears confident demand will rebound strongly once the crisis passes.
BWX Ltd (ASX: BWX)
Another change of interests of substantial holder notice reveals that Paradice Investment Management has been increasing its stake in this personal care products company. According to the notice, Paradice now owns ~9.2 million BWX shares, up from ~6.99 million as of its last notice. This represents a 6.775% stake in the company.
Paradice was buying shares as recently as 27 July. On that day it picked up 250,000 shares for an average of ~$4.02 per share. It appears as though the fund manager is pleased with the way the Sukin manufacturer has turned around its fortunes after a few difficult years. Earlier this month BWX revealed that it expects to report a 25% increase in revenue to $187.6 million and a 30% lift in EBITDA (pre-AASB 16) to $27.5 million in FY 2020.
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More reading
- Why Audinate, Nearmap, Resolute, & TechnologyOne shares are tumbling lower
- Audinate shares in trading halt, capital raising announced
- Afterpay and 1 other ASX tech share to buy and hold beyond 2030
- Why AGL Energy, Alumina, BlueScope, & BWX shares are dropping lower
- ASX 200 finishes up 0.4%, Rio Tinto grinds higher
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of AUDINATEGL FPO. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia has recommended AUDINATEGL FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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