Dorel Industries Ord Shs Class A T.DII.B

Huge Block Trade At The Close

[McRambus]

Wow someone sold/bought a block of 1,576,900 shares at 4pm. 

Seller was Anon buyer was Nat Bank.

There was also a 450,000 share trade at the close on Wednesday as well.

A big holder appears to be leaving. Could be Fidelity, I can't see Brandes or Letko Brosseau selling out at this ridiculous low price.

[subliminal23]

I was hoping that the buyer would be Dorel buy back but unlikely because they are using BMO Nesbitt for automatic share purchase for NCIB.  However, I am still holding out hope that Dorel is scooping up those on the cheap.  It would be nice to find out that they used the proceeds from the sale of the building to increase my equity stake by 10%.  That would maybe make me despise them

[McRambus]

The maximum daily for the NCIB is 27,931 shares. So far this year they have bought back 69,600 class B shares for $500,000. Clearly they are not the buyer. I think it's FIdelity as they are no longer a 10% holder and do not have to report. Not sure what you mean by 'despise' them? Are you referring to management? I think at this point, with a recession looming the best thing to do id

[McRambus]

Another 425,000 block traded, $4.86/share at the close. Seller was National Bank and Buyer was Anon. Somebody big is getting out, somebody big is coming in or adding. 

[subliminal23]

I agree, it appear that it is fidelity exiting.  They were previously dumping share while Leto and Brandes have been adding.  If it was fidelity, I would suspect they have completely exited their position at this point.  They are likely rebalancing their portfolio and taking advantage of the loss to offset some other game.  Least time they reported they only had 2.6 million

[McRambus]

Yet another 250K block market on close order at the low and back down we go. Whoever is exiting isn't finished and is exiting seemingly at any price. That makes 4 days in a row now with big market on close orders. I don't think Leto or Brandes are adding as they would have to report any additional purchases. I suspect this will be yet another brutal report for the 4th quarter along with a

[jmkOttawa]

I hope you are wrong, but that is a distinct possibility.

[McRambus]

Oh I hope I am wrong too. No market on close blocks today. Maybe seller, probably Fidelity, is done. I'm purely speculating as I have no first hand knowledge. Going by last conference call management said that customers were delaying purchase orders until after the holidays to clear excess inventory. Hopefully the supply chain and shipping costs issues have gone down and with the company now

[femos72]

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