The Smart Investor | Another buyer at Stingray

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

Another Stingray board member just bought shares in the Montreal-based music services company.

This time, the purchase transactions are worth about $400,000.

Robert Steele purchased a total of 74,600 shares of stingray during the sessions of September 9th and 12th.

The largest shareholder of guru just bought shares in the Montreal-based bio-energy drink company for more than $200,000. Eric Graveline bought a block of 40,000 shares at $5.18 each on Thursday. He is a member of the board of directors.

The Montreal Company Have lost two buy ratings midweek. Canaccord and Acumen Capital withdrew their support after learning of the video streaming solution provider’s recent quarterly financial performance.

While the Canaccord analyst cites investors’ lack of appetite for small-cap stocks in particular, he’d rather sit on the sidelines, says his Acumen colleague, until Haivision shows it can generate growth again, with sales and margins on the same level level as in the previous year.

water falls won the trust of RBC this week. Analyst Paul Quinn has recommended buying the Quebec Paper Company stock since Tuesday. This specialist expects that the lower costs of certain inputs will have a positive impact on profitability, despite the weak demand for containerboard.

The Montreal retailer’s action David’s Tea fell back below $1 on the NASDAQ on Friday. The stock had slipped below that threshold early in the pandemic, but had recovered to over $5 over the past year. The current price gives the company a market value of $26 million.

Investors seem to be taking the central banks’ decision to adopt a restrictive monetary policy seriously, stresses asset manager Mirabaud in its monthly financial letter published this week.

“Under these conditions, we are maintaining the defensive orientation of our equity portfolios. Given the more hawkish rhetoric from central bankers and the deterioration in economic fundamentals since June, we still believe that underexposure to the equity market is justified. »

The Montreal Company guru lost almost a quarter of its market value on Wednesday after the quarterly results were released. Shipments are up 14%, but this is the first time Guru has seen revenue decline year over year since its IPO. Guru sells its cheaper drinks to Pepsi because this new distributor offers services that the previous distributors didn’t offer (merchandising, account management, etc.).

Stifel GMP analyst Martin Landry withdrew his buy rating midweek, noting in particular that the 14% rise in deliveries had fallen short of expectations and that labor shortages were having an impact. This expert believes that guru is now rated “fairly”.

He also notes that in the current environment, investors are abandoning growth stocks or unprofitable companies, putting Guru at a disadvantage.

The Quebec titles of Have, guru, CAE, cogeco, Lion, Velan and ECB all hit a new 52-week low on the Toronto Stock Exchange this week. Vice versa, Saputo reached its highest level in 52 weeks this week.

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