The Smart Investor | Fiera founder sells block of shares

Every Sunday we put the spotlight on financial and stock market news that may be useful to the investor but may have stayed under the radar.

Posted at 7:00 am

Richard Dufour

Richard Dufour
The press

The founder and CEO of Fiera Capital this week sold $1.3 million in shares in the Montreal-based money manager.

Jean-Guy Desjardins sold a block of 135,588 shares on Tuesday. It has a unit price of $9.25. The transaction was made for estate planning purposes.

Even though cogeco Apparently not involved in the series of developments surrounding the possible sale of Freedom Mobile/Shaw Wireless, Canaccord analyst Aravinda Galappatthige argues that it is not “unrealistic” to think that Cogeco could play a role in this case, for example a joint venture. The licenses (spectrum) held by Cogeco, particularly in the Toronto area, could make Cogeco a “valuable partner” for Freedom’s eventual acquirer, he says.

“Whether or not there’s a recession doesn’t matter much if you own solid companies over the long term because they use recessions to strengthen themselves against their peers,” said portfolio manager Stéphane Préfontaine of Préfontaine Capital in his release this week quarterly letter.

“More significantly, whether or not there will be multi-year stagflation like the 1970s, no one can answer with enough certainty to make it meaningful. »

Its market cap is down nearly 40% from its peak last year Stella Jones has hit 2 billion today, and Financière Banque Nationale analyst Maxim Sytchev wonders if the capital’s shutdown is a possibility. In a memo published mid-week, he floated the idea of ​​a management buyout (Administrative Purchasing) with the support of a pension fund, for example.

National Bank Financial withdrew its buy rating on the stock on Thursday Cogeco communication. Analyst Adam Shine believes the Quebec telecom company’s shares look cheap, but the opportunities are more attractive elsewhere in the sector. Fiscal year 2023 could be another year of transition, he said. They are now only 4 out of 10 analysts recommending buying.

Short-term aviation challenges have created an opportunity to buy the stockAir Canadasays Matthew Lee at Canaccord, who is now recommending the Montreal company’s action. In a note published on Tuesday, this analyst cautioned that the stock’s recent decline was overdone and that investors would be rewarded with a long-term horizon. Eleven of the 15 analysts covering the stock now recommend buying it.

The Montreal franchisor’s business model MTY is based in particular on acquisitions, and CIBC experts say they do not expect any by the end of the year. Another analyst warns that in the current economic context, consumers are likely to spend less by the end of the year. This is particularly why TD’s Derek Lessard believes the stock could be range bound in the short term.

The Montreal biopharmaceutical company Theratechnologies presented promising study results this week and announced that it has secured funding to support the continuation of its clinical trials in oncology.

The risk of a future decline in petrol sales is “real”. Couche tard If people are turning to electric vehicles, Palos management is pointing it out in its weekly financial letter.

“However, the 15 to 30 minutes it takes to charge a battery should result in EV owners spending more time in stores. This is an opportunity to improve product offerings, provide a better shopping experience, or add fast food or services that don’t work in the traditional convenience store model,” says Palos.

Moody’s upgraded the rating on Friday bomber Highlighting in particular the progress made by the Montreal-based business jet manufacturer in reducing debt and improving its financial performance.

The company Credit-Suisse withdrew its buy recommendation for the title of the renewable energy producer from Quebec on Monday Boralex.

The Quebec titles of Gildan, cogeco, enjoy your meal, bomber, Lassonde, Theratechnologies, guru, mdf act, transfer, Dorel and nuvei all hit a new 52-week low on the Toronto Stock Exchange this week.

On the other hand, those ofUniSelect and from Molson Coors hit a 52-week high during the week.

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