The Smart Investor | Fiera loses its last purchase proposal

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

Montreal-based money manager Fiera Capital lost a last buy rating on its stock this week.

TD’s Graham Ryding was the only one of the seven analysts who still offered the buy Industrial fair with the eye on Bay Street. He withdrew his lengthy proposal earlier this week, citing a “lack of catalysts” on the horizon for the stock.

He also underscores the pressure on AV inflows and that this pressure is likely to continue in the near term due to market volatility. He also notes that debt is starting to rise again, but believes the dividend is safe.

At the current market price, the dividend yield is just under 8.5%.

Last month, Desjardins Securities withdrew its buy rating for Fiera, a decision largely based on a valuation question.

A business leader can send a powerful signal by buying stocks. Because of this, tracking insider transactions is one of the elements that can help an investor make his decision or help him validate his decision.

An insider is in a better position than mere mortals to know when the stock of the company he runs represents a buying opportunity, Cote 100 portfolio manager Philippe Le Blanc noted in his financial letter this month.

“There is only one good reason to buy stocks: the hope of a good profit! And the higher the sums that insiders have invested in the purchases, the more relevant the message,” he continues.

The Chairman of the Board of SNC Lavalin bought shares in the Montreal engineering firm for more than $600,000 earlier this week. Bill Young bought a block of 22,800 shares on Monday. He had also bought a package of 700 shares a week earlier. Bill Young joined the board two years ago and now owns 35,800 shares of SNC.

A manager of CAE has just acquired $400,000 worth of stock in the Montreal company specializing in flight simulators. Elise Eberwein bought a package of 14,500 shares on August 12th. She paid a unit price of $27.37. These are his first CAE shares. Elise Eberwein was elected to the CAE Board of Directors this month.

A leader of Saputo just bought $67,000 worth of stock in the Montreal dairy processor. Frank Guido purchased a block of 2,000 shares on August 12 at $33.50 each. At Saputo, he is President and Chief Operating Officer of the Canadian Dairy Products Division.

A member of the board of directors NC just sold more than $200,000 worth of stock in the Montreal rail company. Sean Finn, executive vice president of corporate services and chief legal officer, sold a block of 1,255 shares on Aug. 4. It has a unit price of $162.35.

A manager of Savaria has just sold shares in Laval, a company specializing in accessibility for people with limited mobility, for just over $150,000. Jean-Louis Chapdelaine sold a block of 10,000 shares on August 12 at a price of $15.04 each.

The Quebec titles of Supremex, Dollarama, feed Couche tard, Therapeutic Knight, UniSelect and Boralex all hit 52-week highs on the Toronto Stock Exchange this week.

On the other hand, those of guru, VAT group and Senvest Capital hit a 52-week low this week.

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