The Power Corporation CEO bought nearly $900,000 worth of shares in the Montreal financial conglomerate this week.
Jeffrey Orr bought a block of 25,000 shares of Power Corporation. He paid a unit price of $34.89.
Guru regained support mid-week after the release of the most recent quarterly performance. Analyst Martin Landry, of the firm Stifel/GMP, has been suggesting since Wednesday the purchase of the action of the Montreal company of organic energy drinks. The stock’s decline and an expected return to revenue growth are the main factors prompting it to change its recommendation. They are now two out of three analysts to suggest the purchase.
After transferring its stake in GDI over 10% during the winter, the asset manager Medici, of Saint-Bruno, has since improved its position. Medici has just told the authorities that it started June with an 11.4% stake in the Montreal company specializing in the management and maintenance of buildings.
BRP earned an additional recommendation this week. The analyst Brandon Rolle, of the firm DA Davidson & Cie, proposes since Tuesday the purchase of the action of the Quebec manufacturer of recreational vehicles. They are now 15 analysts out of 18 to say to buy.
“The information technology sector has rebounded strongly since March. Valuations for this sector were revised sharply downwards during the phase of hikes in Fed rates and bond yields. Today, inflation has peaked, rates have stabilized and valuations are no longer under pressure,” said Pierre Pinel, strategist for asset manager Mirabaud, in the firm’s monthly financial letter sent on Friday. .
It is specified there that the firm plans to overweight its positions in equities at the approach of the pivot of the Fed, anticipated at the beginning of next year.
Mutual fund manager Fidelity has just told stock market authorities that it started June with a stake of more than 10% in Goodfellow. The purchase of shares in the Quebec wood products manufacturer and building materials distributor in early May triggered the requirement to publicly disclose the size of the position in Goodfellow.
Laval pharmaceuticals Bausch Health lost analyst support on Friday. Michael Nedelcovych, of the firm Cowen, has just withdrawn his suggestion to buy the stock of the company formerly known as Valeant.
Scotia analyst Konark Gupta noted in a note to clients this week that he expects CAE decides to pay a dividend to its shareholders before the end of the year.
An administrator of Boralex bought another block of shares in the Quebec renewable energy producer this week. André Courville bought a total of 1,000 shares on Wednesday. He has now bought 3,000 shares since the start of the year, bringing the number of shares he owns to 4,190. He has been on the board for four years.
The New York Stock Exchange and the NASDAQ will remain closed on Monday to mark the Juneteenth holiday (contraction of June and the number 19 in English) introduced during the pandemic to mark the end of slavery.
The Quebec titles of Dollarama, Air Canada, BMTC, Logistec, Stella Jones, Transat And ADF Group all hit a 52-week high on the Toronto Stock Exchange this week.