An institutional investor has just increased its stake in juice producer Lassonde to more than 10%.
Asset manager Fidelity Investments purchased approximately $7 million in shares of the Rougemont company in transactions during the very last trading session of January.
A document filed with authorities indicates that Fidelity purchased 46,800 shares on January 31.
Fidelity thus began the month of February with an 11.4% stake in Lassonde.
The unexpected return of the founder of Lightspeed at the helm of the Montreal commerce platform for entrepreneurs fuels speculation. Some investors believe Lightspeed is open to pursuing strategic alternatives, including a potential sale and significant restructuring, talk that may have contributed to the stock’s rebound during Thursday’s session. At least that’s the opinion of analyst Richard Tse of National Bank Financial.
Gildan will present its year-end financial performance mid-week. Former CEO Glenn Chamandy left two weeks before the end of the last quarter of the Montreal clothing manufacturer’s financial year. A conflict between a group of investors and the board of directors followed. Despite all the noise around Gildan over the past two months, only one of the 10 analysts who follow the stock has withdrawn their buy recommendation in recent weeks. The purchase of the stock therefore continues to attract almost unanimous support in the analyst community despite the risks linked to pressure which could arise in the event that one or more disgruntled institutional shareholders decide to liquidate their investment. We will know on Wednesday whether or not Gildan continues to gain market share, and management is expected to provide an updated outlook for the year ahead.
The Quebec company Premier Health of America just attracted a new follower. Doug Loe of Leede Jones Gable has just launched coverage of the provider of staffing solutions and outsourced services for government, corporate and individual healthcare needs. This analyst appreciates the margins and suggests the purchase of this stock listed on the Growth Stock Exchange, highlighting in particular the very fragmented landscape of this sector of activity. He believes the company is well positioned to lead consolidation. The only other analyst to officially follow the company also recommends buying.
The largest institutional shareholder in TVA Group recently increased its stake in the Montreal broadcaster. A regulatory filing filed last month with the authorities reveals that Rational Investment Group purchased 1.6 million shares of TVA during the last quarter of 2023. The Boston private investment firm’s stake in TVA has thus been increased. increase from 11.8% to 15.9%.
A senior manager of Saputo bought more than $150,000 in shares of the Montreal dairy processor this week. Carl Colizza, president and chief operating officer for North America, purchased 5,355 shares on Tuesday at a price of $28.13 per share.
The deadline to make a deductible RRSP contribution for the 2023 tax year is February 29. It is possible to contribute an amount of $7,000 to a TFSA in 2024 if you have not already done so.
The Toronto Stock Exchange will remain closed on Monday to mark the annual Family Day holiday in certain provinces of Canada. The New York Stock Exchange and the NASDAQ will also remain closed on Monday in honor of the American presidents.
Quebec titles of Dollarama, Lassonde, Alimentation Couche-Tard, Héroux-Devtek, CN, WSP, TFI And CGI all hit a 52-week high this week on the Toronto Stock Exchange.
On the other hand, those of CAE, Innergex and of MTY reached a 52-week low this week.