In this bi-weekly column, we provide an overview of insider transactions and investments in Quebec companies.
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The institute is betting on a rise in shares
The Caisse de dépôt has been very active in BRP shares over the past year. In February 2023, she sold more than $22.5 million worth of shares in the motorsports company (at a price of $120 each). Then, from September to December, the company repurchased $54.4 million worth of BRP shares, with the share price fluctuating between $99 and $81. These transactions have just been made public. Today the Caisse holds about 7% of BRP shares. The stock is currently trading at around $90.
Buyer at Innergex
Michel Letellier Photo LinkedIn
Four Innergex insiders have bought shares in the renewable energy producer since the end of last week. The Longueuil company's CEO, Michel Letellier, bought it for more than $105,000, while chief financial officer Jean Trudel acquired it for nearly $100,000. For his part, Marc-André Aubé, who joined Innergex's board in December, invested almost $308,000 in the company, while Richard Gagnon, another director, donated more than $25,000. Innergex shares have risen more than 15% since the company announced a 50% cut to its dividend last week, which will allow it to better fund its future projects.
Nice win for a Metro manager
Frédéric Legault Photo Metro
Metro information systems chief Frédéric Legault made a profit of more than $150,000 last week by exercising stock options. The retailer's stock is up about 7% year-to-date and nearly 50% over the past five years.
iA CEO buys
Denis Ricard Photo iA Financial Group
Denis Ricard, CEO of iA Financial Group since 2018, bought $344,000 worth of shares in the Quebec insurer this week. The stock has fallen more than 5% since the start of the year.
The Caisse is reducing its shares in Intact
Intact advertising campaign with Patrick Huard. Photo intact
The Caisse de dépôt said this week it would sell shares in non-life insurer Intact worth at least $525 million. The institute invested $1.5 billion in the Toronto company in 2021 to help it get its hands on divisions of British insurer RSA. Intact stock is up more than 30% since June 2021.
A power manager exercises options
Denis Le Vasseur Photo Power Corporation
Denis Le Vasseur, vice president and controller of Power Corporation, made a profit of just over $180,000 this week by exercising options from the Montreal conglomerate. He has been with the group since 1992.
You buy KDA
Marc Lemieux Photo LinkedIn
Two KDA Group executives increased their stake in the company this week. KDA's CEO, Marc Lemieux, bought nearly $38,000 worth of shares in the company, while a director, Isabelle Bégin, purchased more than $42,000 worth of shares. KDA specializes in “accelerating the digital transformation of healthcare.” The company's TSX Venture Exchange-listed stock is up more than 40% this week, up 170% year-to-date and up about 500% over the past 52 weeks.