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 today are summarised below. Here’s what these fund managers have been buying:
Bravura Solutions Ltd (ASX: BVS)
According to a notice of change of interests of substantial holder, Mawer Investment Management has taken advantage of weakness in the Bravura share price to top up its position. The notice reveals that the Canadian fund manager has picked up almost 3 million shares over the last few months.
Its most recent purchase was on 11 November when it bought 485,083 shares for a total consideration of $1,514,477. This works out to be an average of $3.12 per share. This means that Mawer Investment Management now owns a total of 18,163,832 shares, which is the equivalent of 7.35% of its total shares.
The Bravura share price is currently fetching $3.23, which is down a sizeable 46% from its 52-week high.
Kogan.com Ltd (ASX: KGN)
Another notice of change of interests of substantial holder reveals that Fidelity Investments has been increasing its holding in this ecommerce company over the last few weeks.
Between 29 October and 9 November, the fund manager picked up a total of net 1,104,164 shares. It was buying for as low as $20.30 at the start as the month and for as much as $23.42 last week. This lifted the fund manager’s holding to a total of 8,838,029 shares, which represents an 8.36% stake in the company.
The good news for investors is that the Kogan share price is now trading at $19.72, which is a discount of almost 16% to what Fidelity was very happy to pay just a week ago.
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More reading
- This cheap ASX share is supplying US giants: fundie
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- Here’s where this ASX fund manager is investing right now
- Why Coles, Incitec Pivot, Kogan, & Northern Star shares are crashing lower
- The OFX (ASX:OFX) share price slumps with ASX tech stocks after posting its results
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 Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd. The Motley Fool Australia has recommended Kogan.com ltd. 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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