The wise investor | Armoyan family acquires more Knight Therapeutics

Every Sunday, we shine the spotlight on elements of financial and stock market news that may be useful to investors, but which might have gone under the radar




The largest shareholder of Montreal pharmaceutical company Knight Therapeutics – after founder Jonathan Goodman – has purchased several blocks of shares in the company in recent weeks.

The value of purchase transactions carried out on the security of Therapeutic Knight by the private holding company of the family of businessman George Armoyan has amounted to more than $2 million since the end of February.

The Armoyan family purchased 15,700 shares of Knight last week and a total of 484,000 shares during the month of March.

A major shareholder and board member of Guru bought nearly $100,000 worth of shares in the Montreal organic energy drink company this week. Éric Graveline purchased a total of 40,000 shares during trading sessions on Monday and Tuesday.

The American bank JP Morgan added the name of the Montreal trucking company earlier this week TFI International to its list of preferred securities on the American market by its analysts (US focus list).

The New York short seller who attacked WSP at the beginning of April returned to the charge this week by presenting on Wednesday an update of its critical report on the Montreal engineering firm. Ben Axler, of Spruce Point Capital, particularly deplores the reaction of analysts who have refuted his allegations and calls on WSP by asking managers to say whether or not the departures of two senior executives a few years ago are linked to allegations of tax evasion in India. He also criticizes the acquisition of a Spanish company announced Tuesday, saying a deal of this size is irrelevant, doesn’t move the needle, and only increases pressure on WSP.

The action of the Montreal franchisor Band MTY fell 10% on Friday after publishing its start-of-year performance and is trading at “very cheap” compared to its historical valuation, according to Scotia analyst George Doumet. However, this expert is not yet ready to recommend buying the stock. To hope for a significant appreciation of the stock, he believes that it will first be necessary to observe an improvement in same-store sales and a reduction in the level of debt.

It can be difficult to dive when the stock markets break new records almost every week, underlines portfolio manager Philippe Le Blanc, of the Cote 100 firm, in his monthly post for April. “Over time, stock markets are “doomed” to reach new records. History shows us that the time during which we remain invested in the stock market is much more important than the timing, the moment we choose to invest in it. »

“The best time to invest in the stock market is when we have liquidity that we won’t need for a long time. Investing as soon as we have enough cash to do so forces us to buy regularly, which is also called the practice of “dollar averaging” which is often very effective,” he adds.

“More often than not, the decision to sit on the sidelines can cost us far more than investing at an inopportune time. Talk to the investor who has done this in the last five months. »

Quebec titles of TFI International, ADF Group, Knight Therapeutics And AYA Gold & Silver all hit a 52-week high this week on the Toronto Stock Exchange.

On the other hand, those of Waterfalls, Electric Lion, MTY Group, Yellow Pages And Taiga slipped this week to a 52-week low.


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