The wise investor |  An institutional prevails over the social capital of Taiga

The wise investor | An institutional prevails over the social capital of Taiga

Every Sunday, we highlight financial and stock news that may be useful to the investor, but may have gone unnoticed.

Posted at 7:00 am

richard dufour

richard dufour
Press

A Toronto institutional investor has just revealed that he took a large stake in Taiga this spring to become the largest shareholder in the maker of 100% electric recreational vehicles.

A document filed with the authorities indicates that Northern Private Capital began June with 3.6 million shares of Taiga in portfolio, the equivalent of an 11.4% stake.

Taiga’s second and third largest shareholders are founders Samuel Bruneau and Gabriel Bernatchez, with 10.6% stakes each.

Just over a month after withdrawing his buy recommendation on shares of Cogeco Communications, TD again suggests buying its shares. In a note published on Friday, analyst Vince Valentini considers the stock attractive after its decline in recent weeks. He also reminds that long-term investors can gain exposure to the value and make a smart investment by investing in the portfolio company. Cogeco at its current price instead of buying Cogeco Communications shares.

President of the Board of Directors of Stingray He just bought $1 million worth of stock in the Montreal music service provider. Marc Pathy bought 172,400 shares on June 9. Boyko Investment Limited Partnership, meanwhile, bought $800,000 worth of Stingray stock this week.

Scotia lined up behind coveo in the middle of the week after the publication of the year-end results of the Quebec company specialized in artificial intelligence applied to electronic commerce. Analyst David Weiss becomes the seventh of nine analysts to say buy. He justifies his decision in particular by financial performance, customer base and an attractive valuation given the growth prospects.

Guru it lost the CIBC recommendation on Tuesday. Analyst John Zamparo withdrew his buy suggestion on shares of the Montreal-based organic energy drink company after the release of quarterly results. “Investors can find a better entry price than current value and should expect better visibility around accelerating national revenue growth. »

CIBC also earlier this week withdrew its proposed purchase of the stock of Dialogue. In a research report on the tech sector, analysts Scott Fletcher and Stephanie Price argue that investors can get better returns by investing elsewhere than in the stock of the Montreal telemedicine company. “Diálogo continues to generate losses and in a position where the company is burning through its cash. Rising costs can delay the day when profitability will be achieved. »

This week’s acquisition of LifeWorks (ex-Morneau Shepell) by Tellus improves the position of the Canadian telecommunications giant in the digital health sector and thus strengthens a competitor of the Montreal company Dialogue. It also increases the likelihood that Dialogue will become a takeover target, thinks analyst Jérôme Dubreuil of Desjardins Securities.

The stock market valuation of Bombing it’s too interesting to ignore, according to Scotia analyst Konark Gupta. In a note published Monday, he says that while some investors believed the stock split was intended to prevent the stock from falling below the dollar, the real reason was to reduce its volatility in a way that would potentially entice investors to long term. .

His CIBC colleague Kevin Chiang, meanwhile, told clients this week that growing concerns about a possible recession or a period of stagflation limit the possibility of seeing the Bombardier stock get a better valuation.

hexo lost in the middle of the week the last two purchase recommendations that the Gatineau cannabis producer still had in stock. Particularly fearing short-term dilution from financing operations, Matt Bottomley is no longer offering to buy the share. The Alliance Global Partners firm has also just withdrawn its purchase suggestion. There are nine analysts to officially follow Hexo. There are no more purchase suggestions.

boralex lost support from iA Capital Markets earlier this week over a valuation issue. Analyst Naji Baydoun is no longer offering to buy the shares of the Kingsey Falls renewable energy producer after the recent surge in shares.

The sudden appreciation of the title of Resolved Forest Products at the beginning of the month is explained by the inclusion of the title of the Montreal forestry company in the American Russell indices, which turned out to be a surprise for some investors, according to the analyst Sean Steuart, of TD.

The Quebec titles of MTY, National Bank, Lion, transaction, air canada, New, Taiga, CGI, Market good food, CNS Lavalin, Cogeco Communications, Stingray, Energy Corporation, wake jones, Dorel, davidstea, Gildan, Lassonde, TFI, senvest, hexo Y Neptune all hit 52-week lows this week in the stock market.

US stock markets will be closed on Monday for the holiday commemorating the end of slavery in the United States.


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