| | | BUS ... If I had participated, I wouldn’t be asking. :-)
The main reason I’m puzzled, the Oct 20 house positions don’t match up unless the Oct 17 off-market transaction was somehow accounted for by CC on Oct 20. It just doesn’t look like a straight forward cross which begs the question: What was it?
For now I’m quite happy with a small position (just enough to justify putting it on the ticker). This may or may not change with confirmation that the current virtually non-existent gross margin has or will improve with growing sales. Companies who sell their goodies at production cost, let alone below all-in costs, tend to have a rather short life span.
One other thing I’m trying to figure out ... What happened to the November 2015 LOI with Weichai, the US based sub of the Chinese giant? Are they still BUS’s frame etc supplier? If so, it would certainly explain BUS’s problem with gross margins (US/Can $ exchange). Add to this their US made engine / drive train combo and you essentially end up with a made in USA product having to compete with such made in Canada product like New Flyer.
One other (minor?) point ... The industry is definitely moving in the hybrid / EV direction. Is there any evidence that BUS is onto this?
House Positions for C:BUS from 20161020 to 20161020
House
| Bought
| $Val
| Ave
| Sold
| $Val
| Ave
| Net
| $Net
| 33 Canaccord
| 1,029,500
| 827,415
| 0.804
| 980,000
| 784,000
| 0.80
| 49,500
| -43,415
| 59 PI
| 57,500
| 49,410
| 0.859
| 30,000
| 25,920
| 0.864
| 27,500
| -23,490
| 89 Raymond James
| 18,500
| 16,280
| 0.88
| 0
|
| 18,500
| -16,280
| 80 National Bank
| 17,000
| 14,790
| 0.87
| 0
|
| 17,000
| -14,790
| 74 GMP
| 5,500
| 4,840
| 0.88
| 0
|
| 5,500
| -4,840
| 62 Haywood
| 29
| 25
| 0.862
| 0
|
| 29
| -25
| 39 Merrill Lynch
| 1,000
| 870
| 0.87
| 1,500
| 1,305
| 0.87
| -500
| 435
| 1 Anonymous
| 17,000
| 14,855
| 0.874
| 17,500
| 15,385
| 0.879
| -500
| 530
| 2 RBC
| 0
|
| 1,500
| 1,350
| 0.90
| -1,500
| 1,350
| 88 Credential
| 0
|
| 4,000
| 3,440
| 0.86
| -4,000
| 3,440
| 19 Desjardins
| 0
|
| 4,529
| 3,960
| 0.874
| -4,529
| 3,960
| 85 Scotia
| 0
|
| 6,000
| 5,185
| 0.864
| -6,000
| 5,185
| 99 Jitney
| 14,000
| 12,020
| 0.859
| 28,500
| 24,920
| 0.874
| -14,500
| 12,900
| 9 BMO Nesbitt
| 0
|
| 17,000
| 14,790
| 0.87
| -17,000
| 14,790
| 7 TD Sec
| 31,500
| 27,375
| 0.869
| 61,000
| 52,660
| 0.863
| -29,500
| 25,285
| 79 CIBC
| 0
|
| 40,000
| 34,965
| 0.874
| -40,000
| 34,965
| TOTAL
| 1,191,529
| 967,880
| 0.812
| 1,191,529
| 967,880
| 0.812
| 0
| 0
| |
|
