I'm not sure any insto's are buying the ASX300, at least not above the 5% reporting threshold. If one looks at the 'Top 20 SH' list as shown in the Ann Report, and one strips out private holdings and SLR board holdings, none of which are recent purchases, then it does not look like a solid register. I would imagine that a 'stock picker' insto would buy an ASX300 stock if it had substantial prospects for growth or income or M&A, which seems to exclude SLR. The expression that comes to mind is the register is very "open".
What I find fascinating and puzzling is the short sale report shown below. While the gross amount of outstanding short on the 11th October was 0.28%, a fraction of SAR for instance, the level short sold stock sold can reach almost 50% on some days. Now the conspiracists would say this is evidence of some entity, using naked intraday shorting, pushing the price down so it (they) can accumulate at bargain basement prices, at teh expense of poor retail SH who are having their 'stops' constantly pressured. It appears to me that this simple strategy is working as the SP is not being defended by SLR nor by institutional buying.
Eventually, a base price will be established, as SLR has fundamental value, and it will become tempting to a low shot buyout by an asset stripper. If only the executive and board had some high price / long-dated options to motivate them to defend the SP and be the M&A agent that would magnify the market cap & catapult the stock into the ASX100 like NST which they like to compare themselves too for the purpose of justifying their remuneration packages. But I don't think they care as they will get their fabulous redundancy payout, come what may, which will be bloated by STI and LTI's.
Like most other long-term holders I would accept a takeover, just to see this board booted out.
Schadenfreude doesn't always result in the rational decision making, but its the only thing on offer from SLR.
|
Column 1 |
Column 2 |
Column 3 |
Column 4 |
Column 5 |
Column 6 |
| 1 |
Date |
Gross shorts 1 |
Issued capital |
% Capital shorted 2 |
Trade volume 3 |
Shorts as % of volume |
| 2 |
Mon 16th Oct, 2017 |
16,616 |
503,771,434 |
0.00% |
1,791,638 |
0.93% |
| 3 |
Fri 13th Oct, 2017 |
181,370 |
503,771,434 |
0.03% |
743,838 |
24.38% |
| 4 |
Thu 12th Oct, 2017 |
148,989 |
503,771,434 |
0.03% |
719,262 |
20.71% |
| 5 |
Wed 11th Oct, 2017 |
42,001 |
503,771,434 |
0.00% |
1,384,401 |
3.03% |
| 6 |
Tue 10th Oct, 2017 |
140,501 |
503,771,434 |
0.02% |
701,943 |
20.02% |
| 7 |
Mon 9th Oct, 2017 |
398,744 |
503,771,434 |
0.07% |
1,411,606 |
28.25% |
| 8 |
Fri 6th Oct, 2017 |
143,119 |
503,771,434 |
0.02% |
900,641 |
15.89% |
| 9 |
Thu 5th Oct, 2017 |
325,873 |
503,771,434 |
0.06% |
1,351,516 |
24.11% |
| 10 |
Wed 4th Oct, 2017 |
272,292 |
503,771,434 |
0.05% |
585,764 |
46.48% |
| 11 |
Tue 3rd Oct, 2017 |
245,845 |
503,771,434 |
0.04% |
1,762,803 |
13.95% |
| 12 |
Mon 2nd Oct, 2017 |
110,728 |
503,771,434 |
0.02% |
1,902,322 |
5.82% |
| 13 |
Fri 29th Sep, 2017 |
94,380 |
503,771,434 |
0.01% |
1,023,858 |
9.22% |
| 14 |
Thu 28th Sep, 2017 |
243,412 |
503,771,434 |
0.04% |
679,332 |
35.83% |
| 15 |
Wed 27th Sep, 2017 |
91,274 |
503,771,434 |
0.01% |
1,103,739 |
8.27% |
| 16 |
Tue 26th Sep, 2017 |
76,840 |
503,771,434 |
0.01% |
1,211,196 |
6.34% |
| 17 |
Mon 25th Sep, 2017 |
285,816 |
503,771,434 |
0.05% |
2,226,490 |
12.84% |
| 18 |
Fri 22nd Sep, 2017 |
367,611 |
503,771,434 |
0.07% |
2,231,402 |
16.47% |
| 19 |
Thu 21st Sep, 2017 |
341,509 |
503,771,434 |
0.06% |
2,575,894 |
13.26% |
| 20 |
Wed 20th Sep, 2017 |
273,649 |
503,771,434 |
0.05% |
1,082,635 |
25.28% |
| 21 |
Tue 19th Sep, 2017 |
99,424 |
503,771,434 |
0.02% |
1,869,705 |
5.32% |
1 Reported gross short sales.
2 % Capital reported as short sold (non aggregated).
3 Total stock trade volume.
