Montreal asset manager Letko Brosseau has once again significantly increased its stake in Dorel.
The May 10 purchase of nearly 1.2 million shares of the Montreal-based furniture and children’s products maker prompted the statement. Letko Brosseau’s participation in Dorel stood at 19.5% to start the month of June.
Letko Brosseau is Dorel’s largest institutional shareholder. After purchases made in April, the purchases of shares in May took the stake from approximately 13% to nearly 20% in two months.
The Sportico website revealed a few days ago that businessman Larry Tanenbaum was considering selling a portion of his shares in Maple Leaf Sports & Entertainment (MLSE) to an Ontario pension fund. The operation would give an enterprise value of more than 8 billion to MLSE. The transaction also suggests that Bell And Rogers have thus tripled the value of their initial investment made about ten years ago in the company which notably owns the Maple Leafs, the Raptors and the Toronto Argos. Rogers and Montreal-based Bell each hold 37.5% of MLSE. In a note released Wednesday, BMO analyst Tim Casey calculates that BCE and Rogers now each hold a stake valued at $1.5 billion in MLSE.
The founder and CEO of Havision has just purchased more than $300,000 of shares in the Montreal provider of video streaming solutions. Mirko Wicha bought a total of 77,000 shares during the June 16 and June 20 sessions.
The Montreal asset manager Fiera Capital lowered its investment in Tecsys last spring. Fiera has just told authorities that it started June with an 11.9% stake in the Montreal supply chain management software provider. Fiera says it started the month with 108,512 fewer Tecsys shares than at the start of February last year.
A member of the management team of Saputo has just purchased a little over $230,000 worth of shares in the Montreal dairy processor. The head of acquisitions and strategic development, Martin Gagnon, bought a block of 7,500 shares on June 13.
An administrator ofAir Canada has just purchased for just over $140,000 of shares in the Montreal airline. Christie Clark purchased a block of 6,000 shares on June 15 at a unit price of $23.47. He has been on the board for 10 years, and the number of shares he held already met Air Canada’s share ownership guidelines.
Finance Manager at Reitmans sold shares of the Montreal retailer last week. Richard Wait on Tuesday sold a block of 12,000 non-voting shares at a unit price of $3.09.
A major shareholder of SupremeX continues to increase its stake in the Montreal manufacturer of envelopes and packaging products. George Christopoulos bought 2,000 shares on Tuesday at a unit price of $5.33. With a stake of more than 10%, he is the company’s second-largest shareholder.
A senior executive at Heroux-Devtek has just sold shares of the Longueuil landing gear manufacturer. Alexandre Verdon, vice president in charge of business development and mergers and acquisitions, sold 4,000 shares on June 16.
The Quebec titles of iA Financial Group, Molson Coors, BMTC And ADF Group all hit a 52-week high on the Toronto Stock Exchange this week. At the opposite, GDI, Innergex, Tecsys And Hexo hit a 52-week low.