In the past few days, a number of managed funds have increased their stake in online education provider 3P Learning Ltd (ASX: 3PL).
Several of Wilson Asset Management's listed investment companies are named as substantial shareholders in 3P Learning including WAM Microcap Limited (ASX: WMI), WAM Research Limited (ASX: WAX) and WAM Capital Limited (ASX: WAM).
WAM Microcap increased its holding by adding nearly 2 million shares to its portfolio in late June and early July.
Australian Ethical Investment Limited (ASX: AEF) also increased its shareholding from just over 7% to 8.99% on June 30, 2017.
Directors have also been buying, including chairman Sam Weiss in April.
3P Learning provides educational software, including its best known and most successful product Mathletics, to 5.9 million online subscribers and more than 20,000 schools around the world including in the US and Europe.
Currently trading on a prospective P/E of ~19x and yet to pay a dividend, 3PL doesn't look all that attractive. However, if the company can continue growing subscribers, refining its operating model which should help keep expenses down, and rationalise its product portfolio, this could be one tech company to watch.