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  5. FSZ: FSZ bought back a large block at much lower price than the market. [Fiera Capital Corporation Class A Subordinate Voting Shares]
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Investment Q&A

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Q: FSZ bought back a large block at much lower price than the market. Would you guess that this is part of a larger plan, perhaps restructuring, merger...etc. Since they spent lots of cash, would that also constrain them from an acquisition. With high dividends, cash flow and low P/E why this stock is not getting traction? Appreciate your opinion, thanks

Asked by Saad on January 14, 2022
5i Research Answer:

The buyback occured opportunistically as a large seller was selling all of their shares. We would not see any change in its strategy because of this. The industry still is in competitive pressure with declining margins. We still like it for income, but would temper expectations on gains: there just is not a lot of growth.