The Power Corporation CEO bought nearly $900,000 worth of shares in the Montreal financial conglomerate this week.
Jeffrey Orr bought a block of 25,000 shares of Power Corporation on Tuesday. He paid a unit price of $34.89.
Guru regained support mid-week after the release of the most recent quarterly performance. Analyst Martin Landry, of the firm Stifel / GMP, has been suggesting since Wednesday the purchase of the action of the Montreal company of organic energy drinks. The decline in the stock and an expected return to revenue growth are the main factors prompting it to change its recommendation. They are now two out of three analysts suggesting the purchase.
After increasing its stake in GDI to more than 10% over the winter, the asset manager Medici, of Saint-Bruno, has since improved its position. Medici has just told the authorities that it started June with an 11.4% stake in the Montreal company specializing in the management and maintenance of buildings.
BRP earned an additional recommendation this week. D.A. Davidson analyst Brandon Rolle
“The information technology sector has been rebounding strongly since March. Valuations for this sector were revised sharply downwards during the phase of hikes in Fed rates and bond yields. Today, inflation has peaked, rates have stabilized and valuations are no longer under pressure,” said Pierre Pinel, strategist for asset manager Mirabaud, in the firm’s monthly financial letter sent on Friday. .
It states that the firm plans to overweight its equity positions as it approaches the Fed’s pivot, anticipated early next year.
Mutual fund manager Fidelity has just told stock market authorities that it started June with a stake of more than 10% in Goodfellow. The purchase of shares in the Quebec wood products manufacturer and building materials distributor in early May triggered the requirement to publicly disclose the size of the position in Goodfellow.
The Laval pharmaceutical company Bausch Health lost the support of an analyst on Friday. Michael Nedelcovych of the firm Cowen has just withdrawn his suggestion to buy the stock of the company formerly known as Valeant.
Scotia analyst Konark Gupta said in a note to clients this week that he expects CAE to decide to pay a dividend to its shareholders before the end of the year.
A Boralex director bought another block of shares in the Quebec renewable energy producer this week. André Courville bought a total of 1,000 shares on Wednesday. He has now bought 3,000 shares since the start of the year, bringing the number of shares he owns to 4,190. He has been on the board for four years.
The New York Stock Exchange and the NASDAQ will remain closed on Monday to mark the Juneteenth holiday (contraction of June and the number 19 in English) introduced during the pandemic to mark the end of slavery.
Quebec stocks of Dollarama, Air Canada, BMTC, Logistec, Stella-Jones, Transat and Groupe ADF all hit 52-week highs on the Toronto Stock Exchange this week.