As I’ve mentioned here previously, 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:
Corporate Travel Management Ltd (ASX: CTD)
A notice of initial substantial holder reveals that ECP Asset Management has been buying this corporate travel specialist’s shares. ECP is an active investment company which has beaten the market since 2010. It likes to invest with a long term approach in companies with durable competitive advantages and a sustainable business model.
According to the notice, ECP was buying shares last week. These latest purchases pushed its holding to a total of 5,611,329 shares. This represents a 5.15% stake in Corporate Travel Management. With the company’s shares down 42% from their 52-week high (even after a strong gain today), it appears as though this fund manager sees a lot of value in them.
Infomedia Limited (ASX: IFM)
A notice of change of interests of substantial holder shows that WAM Capital Limited (ASX: WAM) has been increasing its stake in this automotive software company. WAM is a leading fund manager founded by Geoff Wilson AO.
According to the notice, WAM has been on a buying spree since the start of May and has grown its position by 7.2 million shares since its last notice at the end of April. This means WAM now owns a total of 24,034,732 shares, which represents a 6.42% stake in Infomedia. When the fund manager first started to top up its holding, Infomedia’s shares were down 37% from their high. This appears to have been a level which WAM felt was undervalued. But given that it was still buying shares as recently as last week, it must still see value in them today.
And here are more top shares that fund managers could be buying right now…
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More reading
- Flight Centre share price and other ASX 200 travel shares look set to continue rising
- Will the Qantas share price crash back to Earth?
- We’re in recession. What does that mean for investors?
- ASX 200 rises 0.8%, travel shares fly higher
- This ASX 200 stock is well placed to beat earnings expectations
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 Infomedia. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. 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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