04:41:56 EDT Wed 24 Jul 2024
Enter Symbol
or Name

Corus Entertainment Inc
Symbol CJR
Shares Issued 196,074,632
Close 2024-02-05 C$ 0.96
Market Cap C$ 188,231,647
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Globe says fund manager sells Corus at a loss

2024-02-06 08:51 ET - In the News

The Globe and Mail reports in its Tuesday edition that while many investors are hooked on blue-chip stocks, David Barr has his eye on small-cap companies he believes can outperform their larger peers. The Globe's Brenda Bouw quotes the chief executive officer at PenderFund Capital in Vancouver saying: "One of the key reasons we focus on the small-cap space is that the market is less efficient. More computers and algorithms drive trading today, which means more capital is chasing mega and large-cap names. As a result, the small-cap market has fewer participants, which means fewer people to figure out these businesses. So, we believe we have an analytical edge and can hopefully generate alpha for our clients." Mr. Barr's $250-million Pender Small Cap Opportunities Fund's F Class has seen a one-year return of 6.2 per cent, while its five-year annualized return is 11.2 per cent. Mr. Barr last year sold television and radio broadcaster Corus Entertainment. "It's a stock we owned for several years and sold at a loss. We started to get a bit concerned about its debt level, and given the high-interest-rate environment and deterioration of core business fundamentals, we believe there was further downside to come."

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