Three members of the Bourassa family, including the big boss of Savaria, have just purchased nearly $1.5 million worth of shares in the Laval company specializing in accessibility for people with reduced mobility.
Savaria CEO and Chairman Marcel Bourassa purchased a block of 75,000 shares on November 3 at a unit price of $13.91 on the open market.
His sons Sébastien and Alex, respectively chief operating officer and vice-president of sales and operations, each purchased blocks of 15,000 shares this week. Savaria shares reached their lowest level in a year at the beginning of November.
Fears over the rapid adoption of weight loss drugs – such as Ozempic – have affected several stocks this year, CIBC noted in a report released earlier this week. Well aware that the impact of these drugs should not be a significant negative factor in the coming years, CIBC experts nevertheless maintain that the two Canadian titles in the restaurant sector most likely to be affected are those of the franchisor Montreal-based MTY and the parent company of Tim Hortons (Restaurant Brands).
CIBC suggests that some of MTY’s largest brands offer products (pizzas, ice cream, pretzels) that could be significantly affected. Saputo’s stock could also be affected since this Montreal company is a major supplier to pizza producers and is exposed to snacks. Couche-Tard is also at risk, according to CIBC, since convenience stores could suffer from the drop in demand for snack products.
The founder and big boss of NanoXplore purchased several blocks of shares in the Montreal graphene producer this week. Soroush Nazarpour purchased a total of 21,100 shares during Thursday and Friday sessions.
Investing in Montreal asset manager Fiera Capital isn’t without risk, but its enticing 17% dividend yield certainly makes the idea intriguing. This is also what analyst Phil Hardie of Scotia points out in a note published this week. Such a high return always encourages investors to be wary while capital flight weighs down assets under management. Phil Hardie is quick to point out, however, that the dividend coverage/operating cash flow ratio – which was well over 100% earlier this year – improved to 90% in the third quarter. This expert predicts the ratio will be around 70% through 2024. “While the high dividend yield is possibly a red flag, I expect Fiera to maintain its current dividend. »
A senior Dorel executive purchased shares of the Montreal manufacturer of children’s furniture and car seats mid-week. Executive Vice President of Sales and Marketing Jeff Segel purchased a total of 10,500 shares during trading Wednesday and Thursday.
A CN administrator has just purchased nearly $300,000 worth of shares in the Montreal rail carrier. Margaret McKenzie purchased a block of 2,000 shares on November 1 at a price of $148.20 per share. She has been a member of the CN board of directors for three years.
Quebec stocks of Gildan, ADF Group, Colabor, Dollarama, Alimentation Couche-Tard, Stella-Jones and OpSens all hit a 52-week high this week on the Toronto Stock Exchange.
On the other hand, those of Saputo, GDI, Supremex, NanoXplore, Groupe TVA, Alithya, Cogeco Communications and Senvest Capital slipped this week to a low of the last 52 weeks.