A Chicago investment firm has just told stock exchanges that it started May with a stake of more than 10% in Dorel.
Gate City Capital says it was the purchase of Dorel shares during the April 30 trading session that led to the public declaration of its stake in the Montreal-based manufacturer of furniture and children’s car seats. Gate City says it started the month with 3 million Dorel shares in its portfolio.
Montreal asset manager Letko Brosseau has also just bought Dorel shares. Letko Brosseau increased its stake in the company by purchasing 230,000 shares on April 27. Letko started May with 4.4 million Dorel shares, the equivalent of a 15.4% stake.
The Knight Therapeutics CEO bought nearly $100,000 worth of shares in the Montreal-based pharmaceutical company mid-week. Samira Sakhia bought a block of 20,000 shares on Wednesday at a unit price of $4.75.
Mutual fund manager Fidelity has just informed the authorities that it started the month of May with a stake of more than 10% in the Longueuil company D-Box. Fidelity says it owns 26.4 million shares of the company known for its vibrating seats for the cinema, or 11.8% of the shares outstanding.
CN lost support from Citi earlier this week. Analyst Christian Wetherbee on Monday withdrew his buy recommendation on the title of the Montreal rail carrier. “Low volumes to be transported will reduce the valuation premium over US rail carriers,” he said. They are now only 10 analysts out of thirty to say to buy.
The Medici firm has just reduced its equity exposure to the Montreal franchisor MTY. The Saint-Bruno-de-Montarville asset manager points out in its quarterly letter that the recent acquisitions of BBQ Holdings and Wetzel’s Pretzels have increased MTY’s debt level. “As the interest rates charged on its borrowings are variable, the interest expense will necessarily increase in 2023 and thus affect its profitability. In this context, we believe that MTY will have to slow down the pace of acquisitions in order to repay its borrowings more quickly. »
A senior executive and two members of the Colabor board of directors have just purchased blocks of shares from the Boucherville food distributor. Chief financial officer Pierre Blanchette bought 125,000 shares on May 17 for a TFSA, while directors Warren White and Jean Gattuso bought 10,000 and 34,000 shares respectively this month.
Montreal-based asset manager Gestion Palos continues to have confidence in Lightspeed despite the title of the Montreal provider of merchant technology solutions being in the penalty box for almost two years. Recent strategic decisions by Lightspeed management to accelerate adoption of its payment solution and focus efforts on larger customers are the right decisions to ensure long-term sustainable and profitable growth, according to Palos.
“We consider the plan to be sound and achievable. Meanwhile, some impatient investors have been voting with their feet while patient investors see the opportunity. We are in the latter camp and have taken advantage of the volatility to increase our stake,” reads Palos’ financial letter released this week.
A director at Lassonde has just purchased for nearly $110,000 shares of the Rougemont company known for its fruit and vegetable juices. Nathalie Pilon bought a block of 1,000 shares on May 16. These are his first shares of the company. She joined the board in February.
The New York Stock Exchange and NASDAQ will remain closed on Monday to mark Memorial Day in the United States.
Quebec stocks Logistec, Bellus Santé and Stella-Jones reached a new 52-week high on the Toronto Stock Exchange this week. In contrast, those of Yellow Pages, Lightspeed and Fiera Capital hit 52-week lows.
