Posted at 7:00 a.m.
A Los Angeles fund manager has just told stock markets that he started April with a stake of more than 10% in Montreal-based trucking firm TFI (formerly known as TransForce).
Largest institutional shareholder of TFICapital Research Global Investors clarifies that it purchased its shares in TFI “solely for investment purposes” and that the need to disclose this stake in TFI is related to a transaction carried out on March 31 on the stock market.
The American institutional manager thus began the month with 9.3 million shares of TFI in its funds, an investment worth nearly $1 billion.
The largest shareholder of Goodfood Market recently increased its investment in the Montreal online grocer by buying several hundred thousand dollars worth of shares last month, while the title was being mistreated on the stock market.
New York-based asset manager Phoenician Capital acquired a total of 300,000 shares of Goodfood in March. A document filed with the authorities indicates that Phoenician Capital started April with a 12.9% stake in Goodfood.
BMO launched official coverage of two Quebec techno titles this week: Tecsys and mdf trade. Analyst Deepak Kaushal recommends Tecsys stock, but not mdf. He points out that mdf has potential with its procurement and e-commerce software, but the stock lost investor confidence after a major strategic acquisition that significantly diluted shareholder equity and increased debt levels.
“It will take time to rebuild confidence and risks will remain elevated until growth and margins improve, or until management turns to an alternative to unlock value. »
Regarding Tecsys, this expert believes that the Montreal-based company specializing in supply chain management software is successfully shifting its business model to a software-as-a-service (SaaS) model in order to strengthen its activities. “The stock’s recent pullback is overdone,” he said.
The action of the National Bank won the confidence of CIBC earlier this week. Analyst Paul Holden adjusts his sights in the banking sector and now recommends buying the title of the Quebec financial institution as well as that of the Royal Bank of Canada. Conversely, he withdraws his suggestion to buy TD, Scotia and Canadian Western Bank stocks.
Canadian bank stocks do not discount the same economic risks already discounted by the bond market and US bank stocks, he said. “You can’t just rule out the risk of recession. A more defensive stance would be prudent. He considers the titles of the National and the Royal less risky than the others.
A founder and director ofFood Couche-Tard sold approximately $3 million worth of shares in the Laval convenience store chain this week. Jacques D’Amours sold a total of 40,000 shares on Monday for the benefit of his foundation. It also alienated by donation on April 8 a block of 18,200 shares.
An administrator of Therapeutic Knight has just bought 7000 shares of the Montreal pharmaceutical company. Nicolás Sujoy completed his buy trades on April 6. He has been a member of the board of directors for two years.
The Quebec titles of Metro, Food Couche-Tard and ECB all hit another 52-week high on the Toronto Stock Exchange this week. In contrast, the Quebec titles of Tecsys, Dorel, Savaria, Coveo, Hardware store Richelieu, OpSense, Lassonde, mdf trade, Transcontinental and Neptune hit a 52-week low.