MTY’s largest institutional shareholder has just sold shares in the Montreal franchisor to bring its stake below 10%.
Fidelity sold nearly $30 million worth of MTY Food Group stock during the Feb. 23 trading session. This transaction triggered the obligation to reveal to the authorities that Fidelity had started the month of March with an 8.7% stake in the operator of brands such as Bâton Rouge, Sushi Shop and Valentine.
Fidelity is therefore no longer required to report its transactions on MTY unless its stake in the company returns to 10% or more.
BMO earlier this week launched its official coverage of the activities of the Lion Electric Company without recommending the purchase of the stock of the maker of 100% electric trucks and buses. Analyst Tamy Chen argues that the current valuation is a good reflection of his caution towards the stock and that the uptick in sales volume is a long way off and will require patience. “The company has a head start on several competitors in particular with regard to expertise in R
A director of Alimentation Couche-Tard bought shares in the Laval convenience store chain for nearly $130,000 in the middle of the week. Eric Boyko bought a block of 2,000 shares on Wednesday. He has been a member of Couche-Tard’s Board of Directors since 2017 and already met the share ownership requirement applicable to him.
Bombardier’s stock risk is significantly lower than it was two years ago, RBC analyst Walter Spracklin said in a note released Friday. “Bombardier’s stock is fundamentally mispriced,” he said, raising his 12-month target price to $100. It’s even reasonable to believe that the stock could hit $200 in the relatively near future, he said, given the potential to boost revenue from new growth engines, such as the defense division and the certified pre-owned aircraft.
A director of SNC-Lavalin bought $80,000 worth of shares in the Montreal engineering services firm on Thursday. Gary Baughman purchased 2,500 shares that day. He has been a member of the SNC Board of Directors for three years.
Coveo announced a partnership with SAP on Thursday. The research platform of the Quebec company specializing in artificial intelligence applied to e-commerce reaches the rank of application approved by the German giant. Coveo and SAP now jointly promote and sell the Coveo artificial intelligence platform for business-to-business (B2B) and business-to-consumer (B2C) customers.
Haivision said Thursday that its board of directors has completed a review of the expression of interest expressed by the Ontario company Evertz and unveiled in early March. It has been determined that this expression of interest is not in the best interests of the Montreal-based streaming solutions provider and its stakeholders, and that Haivision will remain focused on executing its business and its growth strategy. Haivision had previously adopted a shareholder rights plan (poison bean) aimed at discouraging a takeover attempt by creating a significant risk of dilution.
Quebec securities of CGI and SNC-Lavalin reached a new high of the last 52 on the Toronto Stock Exchange this week. In contrast, Dorel Industries, Lion, Knight Therapeutics and Taiga stocks hit 52-week lows this week.
