The chairman of the board of directors of Stingray purchased $1 million worth of shares in the Montreal music services provider this week.
Mark Pathy purchased a batch of 140,000 shares of Stingray at a unit price of $7.15.
The transaction was carried out on behalf of Mavrik, the private investment and financing company he runs.
For the second time this spring, a senior manager of Dollarama sold several million dollars worth of shares in the Montreal discount retailer. After selling $7 million worth of shares at the end of April, product import manager Geoffrey Robillard sold nearly $5 million worth of shares in mid-June. On June 14, he sold a lot of 39,300 shares at a unit price of $123.51.
CGI lost the support of CIBC this week. Analyst Stéphanie Price withdrew her purchase suggestion on the stock on Thursday. fintech Montrealer after having revised downwards its revenue growth forecasts in an environment that it describes as “difficult” and “uncertain”. In particular, she highlights a slowdown in customer decision-making. There are still around ten analysts recommending the purchase of the stock over the fortnight monitoring the activities of the IT services company.
A member of the board of directors of 5N Plus has just purchased a little over half a million dollars worth of shares in the Montreal semiconductor producer. Luc Bertrand purchased a total of 91,000 shares on June 14.
The persistent pressure on the action of Deckchair caused the stock market value of the Montreal tour operator to slide below the 100 million mark in Toronto this week. The main reason why National Bank Financial suggests staying away from Transat stock is the risk of shareholder dilution linked to the plan on which management is working to refinance its debt.
Announced mid-week, the voluntary conversion into subordinate voting shares of 5 million multiple voting shares of Stingray held by Télésystem can be viewed favorably in the sense that this may potentially increase the liquidity of the shares in circulation. Télésystem, whose big boss François-Charles Sirois is a member of the Stingray board of directors, now has the right to appoint a single member of the Stingray board instead of three.
The Desmarais family residual trust has just sold nearly $30 million worth of shares of Power Corporation. The sale of a total of 750,000 shares of the Montreal financial conglomerate in the account of Pansolo Holding was carried out between June 13 and 19.
A scenario by which Boralex could acquire Innergex for a 20% premium was mentioned in an RBC report on Tuesday. Analyst Nelson Ng believes that a combination of the two Quebec renewable energy producers would be beneficial for both entities. This expert assumes that Boralex would finance the operation with an issue of shares, either directly to Innergex shareholders or to the public to finance the cash component of a transaction.
This Sunday is World Whistleblower Day, those whistleblowers who bring to light misconduct, illegal practices and unethical behavior. This day is an opportunity for authorities to highlight the service these people provide to the public by reporting securities crimes that would otherwise be difficult to detect.
For the second time in two weeks, a member of the board of directors of Savaria has just sold shares in the Laval company specializing in accessibility for people with reduced mobility. After selling $110,000 worth of stock in late May, Peter Drutz sold almost $75,000 worth of stock on June 12. He has been a member of the council for 22 years.
The market’s reaction Friday to the announcement of the acquisition of Desjardins’ stake in Fiera by executives of the Montreal asset manager leaves the CIBC analyst perplexed. Nik Priebe says the concentration of control is generally viewed negatively, but the positive reaction suggests the market may be worried about the prospect of a deterioration in business relations between Fiera and Desjardins when that is not the case, it seems.
At RBC, Geoffrey Kwan welcomes Friday’s announcement, but believes it would have been better for a third-party investor to take a stake while also providing new capital to invest in Fiera’s funds.
Quebec titles of Héroux-Devtek, Senvest Capital And AtkinsRealis reached a 52-week high this week on the Toronto Stock Exchange.
On the other hand, those of MTY, VAT, Deckchair, Waterfalls And MolsonCoors all fell this week to a 52-week low.