JIN - getting to know your Top 20

disclaimer: with the JIN annual report being prepared so soon afterthe balance period the two comparable Top20 lists are as at July 2019 and 2020, so the "most recent" list is already nearly 7 months old

Jumbo Interative has an interesting pattern shown between to two comparison years, where the Top 20 scaled back their holdings to go from 75% to 65% held as at 2020.

On the surface of things the back drop of course was that this period 2020 was right in the middle of the pandemic year with much of the country experiencing lockdowns and work from home or being eligible for JobKeeper / JobSeeker subsidies at lower levels of income.

Alongside a number of business changes for Jumbo, I believe that the services of Jumbo were seen and judged to be very much Consumer Discretionary ones, and therefor in part played into the sell down while peoplle were being more concerned about household finances.

Key Points:

• The Top 20 constituents are a listeing of fund managers and investments businesses in the main part
• There are only 4 current substantial members in excess of 5% (dropping from 5 in 2019)
• most of the Top10 holders took money off the table at on average 10% to 50% of their holdings
• current CEO and Founder of the company Mike Veverka is the number 1 and 10 holder and has not sold any holdings over the period and is also an Executive Director
• Four shareholders dropped out of the Tope 20 from 2019 and where replaced by four new holders in 2020, each of those on average holding fewer shares than the members who exited, inferring that those exiting members also sold down their holdings from 2019
• new member to the Board and current Chairman Susan Forrestor joined the board with a nil holding, however 1 month later on both the 1st and 10th of October purchased 7,500 and 2,500 shares at a prices of $13 and $11.90 respectively
• with most of the holders in either years having the less than 5% threshold, there are not alot of Substantial Holdings announcemetns to review since the July 2020 period.

With the share price now off the $10.55 low which coincided with the date the Top 20 was prepared there does appear to be a return to the company by investors monies with the ma50/200 crossover indicating a very slight uptrend since the March 2020 sell off to currenlty be just over $15 (mid Feb 2021)

Jumbo however, and unlike many other stocks, has not recovered to pre-pandemic share price levels, so it may be possible that many of the fund managers are not as bullish as previously.