Fund managers are buying these ASX shares

Fund managers have been loading up on these ASX shares…

| More on:
Image of fund managers on laptops with share price chart overlaid

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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 this fund manager has been buying:

Mach7 Technologies Ltd (ASX: M7T)

A change of interests of substantial holder notice reveals that Clime Investment Management Limited (ASX: CIW) has taken advantage of weakness in the Mach7 share price to top up its position.

The notice reveals that Clime has picked up ~2.7 million shares in the enterprise image management systems provider since 6 May. This has increased its stake to a total of ~21.79 million shares, which represents a 9.22% stake in the company.

Clime was paying between $1.00 and $1.15 for the shares. So, with the Mach7 share price currently fetching $1.03, investors are able to buy in at around the same levels.

One broker that would approve of these purchases is Morgans. It currently has an add rating and $1.68 price target on its shares.

Straker Translations Ltd (ASX: STG)

Another change of interests of substantial holder notice reveals that Clime has been increasing its position in this translation technology company.

According to the notice, the fund manager has bought over 2 million shares on-market since the end of last month. This has lifted its holding in Straker to ~5.4 million shares, which represents an 8.4% stake in the company.

The release explains that Clime paid between $1.90 and $2.35 for the shares, with the most recent purchases taking place on Tuesday. The latter price is just a touch under the Straker record high of $2.45. This appears to be an indication that the fund manager believes the company is going places.

So, with the Straker share price pulling back to $2.00 today, this could be an opportunity for investors to buy in at an attractive price. Ord Minnett certainly sees it that way. Last week the broker put a buy rating and $2.46 price target on its shares.

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 and has recommended MACH7 FPO. The Motley Fool Australia has recommended MACH7 FPO and Straker Translations. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Business woman watching stocks and trends while thinking
Share Market News

5 things to watch on the ASX 200 on Wednesday

The ASX 200 looks set to have a tough day on Wednesday...

Read more »

Share Market News

Here are the top 10 ASX shares today

Here are your top 10 biggest gainers in the ASX 200 on Tuesday.

Read more »

A man in business suit wearing old fashioned pilot's leather headgear, goggles and scarf bounces on a pogo stick in a dry, arid environment with nothing else around except distant hills in the background.
Share Market News

Why the ASX 200 is rallying after the RBA’s rate hike today

The benchmark index has lifted in the face of the interest rate hike today.

Read more »

A police office points their detector at a speeding car, this one is going to get a speeding ticket.
Share Market News

IOUpay shares issued a speeding ticket after rocketing 55% today. What happened?

It has been a rollercoaster ride for IOUpay shareholders on Tuesday.

Read more »

A male sharemarket analyst sits at his desk looking intently at his laptop with two other monitors next to him showing stock price movements
Share Market News

ASX 200 midday update: Regis Resources jump, big four banks fall ahead of RBA meeting

The ASX 200 is on form again on Tuesday...

Read more »

a man in a hard hat, high visibility vest and gloves holds a stop sign and holds up a hand in a halt gesture on a road.
Share Market News

What’s happening with Firefinch shares following a $13 million lithium sale?

Firefinch shares are going nowhere today.

Read more »

a man with a moustache sits at his computer with his hands over his eyes making a gap between his fingers so he can peek through to his computer screen.
Share Market News

How did the Vanguard Australian Shares Index ETF perform in June?

ASX blue chip shares had a tough time during June.

Read more »

A woman sits at her computer in deep contemplation with her hand to her chin and seriously considering information she is receiving from the screen of her laptop regarding the Xero share price
Share Market News

Why ASX 200 value shares are surviving the sell-off better than growth shares

ASX value shares are down 5.45% year to date while growth shares are down 16.5%.

Read more »