New Podcast Episode!
In this episode, Chris and Michael dissect the latest earnings reports for Canadian small-caps, highlight an in-house research report on buying stocks at their 52-week highs, discuss a few Canadian small-cap stocks, and bring forth some Canadian names we feel Warren Buffett would be a buyer of.
New Report
We have posted a new report on Propel Holdings (PRL). PRL is an innovative fintech company operating through its main three brands, MoneyKey and CreditFresh in the US, and Fora in Canada. It provides access to credit for both US and Canadian consumers whom are considered underserved by the conventional financial systems. The company has witnessed rapid growth in its product and service offerings, and it has a capital-light business model. We feel this a report that investors won’t want to miss.
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Flash Reports
We have posted a flash report update for eight of our coverage companies. In the reports we see themes related to the adverse effects that high rates are having across sectors, how secular tailwinds are driving revenue growth, and mixed operating results. We have downgraded a few of the names in the flash reports due to companies displaying softness in sales and increasing external competition. We feel the report offers valuable insights into how companies are adapting in a ‘sink or swim’ economic landscape which is having varying effects on across sectors and industries.
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Dropping Company Coverage
We are dropping company coverage on Andrew Peller (ADW.A). The share price has been under tremendous pressure over the last few years, as the company’s growth has stalled and profitability declined due to inefficient operations. Its management of operations have changed in the last few years due to a challenging macro environment of inflation and supply chain issues, and its turnaround prospects are highly uncertain now. We think there are better opportunities in the current market for investors’ capital.
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Report Updates
We have posted report updates on Constellation Software (CSU) and Topicus (TOI). CSU has become one of the largest software businesses in Canada, and TOI is a spinout of CSU. TOI manages and builds vertical market software (VMS) businesses, and it currently operates in 26 countries across Europe, serving over 100,000 customers in 40 different vertical markets. We consider CSU to be one of the most well-managed software companies in North America, and TOI is filled with potential. One company is fairly expensive, but has demonstrated continued momentum, and the other has a long runway for growth.
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