The Short Report

Weekly Reports | Dec 13 2018

Guide:

The Short Report draws upon data provided by the Australian Securities & Investment Commission (ASIC) to highlight significant weekly moves in short positions registered on stocks listed on the Australian Securities Exchange (ASX). Short positions in exchange-traded funds (ETF) and non-ordinary shares are not included. Short positions below 5% are not included in the table below but may be noted in the accompanying text if deemed significant.

Please take note of the Important Information provided at the end of this report. Percentages in this report refer to percentage of ordinary shares on issue.

Stock codes highlighted in green have seen their short positions reduce in the week by an amount sufficient to move them into a lower percentage bracket. Stocks highlighted in red have seen their short positions increase in the week by an amount sufficient to move them into a higher percentage bracket. Moves in excess of one percentage point or more are discussed in the Movers & Shakers report below.

Summary:

Week ending December 6, 2018

Last week a relief rally for the ASX200 peaked before the index dropped yet again.

I can confirm that falls in short positions for Domino’s Pizza ((DMP)) to 9.5% from 11.0% and for G8 Education ((GEM)) to 7.6% from 9.2% have, despite my trepidation, been confirmed in last week’s ASIC data. Domino’s remains at 9.4% and G8 at 7.2%.

My dilemma this week, nonetheless, is that CSR ((CSR)) shorts have fallen from 8.7% to off our able this week, meaning somewhere below 5%. I’m going to take a big risk and include CSR in this week’s Movers & Shakers, knowing that I could well be red-faced next week.

The only other move of note last week was JB Hi-Fi ((JBH)) shorts falling to 17.9% from 19.3%. While this counts as moving & shaking, there has been no new news from the company and sizeable changes in short position are not unusual at the top of the table.

Maybe a shorter is getting nervous before Christmas. Maybe it’s a play against Harvey Norman ((HVN)), whose shorts last week rose to 9.3% from 8.8%.

Other highlights this week include the inclusion, finally, at the bottom of the table of Corporate Travel Management ((CTD)). Despite all the hullaballoo from weeks ago about a hedge fund taking a major short in the stock, it had not to date appeared on this table.

The other stocks joining at the bottom of the table are familiar in that position.

 

Weekly short positions as a percentage of market cap:

10%+

JBH     17.9
SYR    16.8
GXY   16.6
BWX   14.0
ORE    13.9
ING     13.2
MTS    12.7
MYR   11.9
IVC     11.8
NXT    11.8


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