Fund managers are buying these ASX shares

Fund managers have been loading up on these ASX shares…

| More on:
Man online with computers discussing the ASX 200

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:

GUD Holdings Limited (ASX: GUD)

According to a change of interests of substantial holder notice, Aware Super has been taking advantage of weakness in the GUD share price to top up its position.

The notice reveals that the super fund has picked up just under 1.4 million shares since the beginning of August. This lifted its holding in GUD to a total of ~6.21 million shares, which is the equivalent of a 6.54% stake.

The most recent purchase came on 15 September when the company paid ~$5.69 million for 530,716 shares. This represents an average price of $10.71 per share.

Unfortunately for Aware Super, the GUD share price has continued to tumble since then. On Friday, its shares were trading within sight of its 52-week low at $10.19.

Though, one broker that would be supportive of these purchases is Citi. Earlier this month the broker upgraded GUD's shares to a buy rating with a $12.30 price target.

Nitro Software Ltd (ASX: NTO)

A notice of initial substantial holder reveals that Copia Investment Partners has become a substantial shareholder of this document productivity company.

According to the notice, the fund manager has built up a holding of 9,973,091 shares, which is the equivalent of a 5% stake. Copia has been buying shares over the last few months but went into overdrive this week. One of its purchases was for 780,399 shares at an average price of $3.51.

The Nitro share price is currently fetching $3.68, which is just short of its 52-week high of $3.78. However, based on this fund manager's purchases, its team appear confident that new highs will be reached in the near future.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nitro Software Limited. 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

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »