Affinity Education has added over 40% to its share price since listing in late 2013

Affinity Education has added over 40% to its share price since listing in late 2013. Affinity released results in late February with better than prospectus revenue and earnings results. Since the result Affinity has been included in the All Ords index and has announced the acquisition of a further 7 child care centres. One thing to note from recent announcements is the gradual sell down coming from substantial holders Perpetual and BT Investment Management. Both institutions have trimmed their holdings in the last few days with Perpetual having lodged two notices in the course of 3 weeks. While profit taking and trimming of positions is understandable collectively the two institutions own nearly 15% of the stock on offer. Persistent selling in a relatively small stock could put pause on what has be a stellar run for Affinity. Here is a link to their results presentation: (VIEW LINK)