The Short Report

Weekly Reports | Jan 31 2019

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 January 24, 2019

The Short Report is now back in its standard format of highlighting week to week changes.

Last week saw the ASX200 rally to 5900 before returning from whence it came.

Last week also saw very little in the way of short position movements, as the table below suggests. Either the shorters have all now set themselves ahead of earnings result season or we’re yet to see last minute repositioning.

Only two stocks saw short position movements of one percentage point or more, being Inghams Group ((ING)) and Nanosonics ((NAN)). See Movers & Shakers below.

Otherwise we might note last week saw two big pre-result profit warnings, from Challenger ((CGF)) and Sims Metal Management ((SGM)). The stock prices of each fell off a cliff as a result.

To that end we see Challenger shorts have fallen to 6.7% from 7.0%, suggesting no great rush to take profits on short positions, while Sims has reappeared on the table at 5.8% shorted from less than 5% prior, suggesting the sharks may be gathering.

 Weekly short positions as a percentage of market cap:

10%+

SYR    16.9
GXY   16.6
JBH     16.0
ING     15.4
ORE    13.4
MTS    13.4
IVC     13.0
NXT    12.1
BWX   11.7
MYR   11.7
DMP   10.2


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