CI Financial (TSE:CIX) Shares Cross Above Two Hundred Day Moving Average of $15.90

CI Financial Corp. (TSE:CIX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$15.90 and traded as high as C$16.47. CI Financial shares last traded at C$16.05, with a volume of 295,625 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CIX shares. CIBC reduced their price objective on shares of CI Financial from C$17.50 to C$17.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Royal Bank of Canada dropped their target price on shares of CI Financial from C$20.00 to C$18.00 and set a “sector perform” rating on the stock in a report on Monday, May 13th. Keefe, Bruyette & Woods dropped their target price on shares of CI Financial from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a report on Monday, May 13th. BMO Capital Markets dropped their target price on shares of CI Financial from C$19.00 to C$17.00 and set an “outperform” rating on the stock in a report on Monday, May 13th. Finally, Jefferies Financial Group boosted their target price on shares of CI Financial from C$19.00 to C$20.00 in a report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$19.33.

CI Financial Price Performance

The company has a current ratio of 0.47, a quick ratio of 0.17 and a debt-to-equity ratio of 160.56. The firm has a market cap of C$2.31 billion, a P/E ratio of -14.20, a PEG ratio of 0.04 and a beta of 1.67. The company’s 50 day simple moving average is C$15.23 and its 200-day simple moving average is C$15.90.

CI Financial (TSE:CIX) last posted its earnings results on Friday, May 10th. The company reported C$0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.87 by C($0.01). The company had revenue of C$645.68 million for the quarter, compared to the consensus estimate of C$690.26 million. CI Financial had a negative net margin of 5.55% and a negative return on equity of 8.77%. Research analysts forecast that CI Financial Corp. will post 3.590604 earnings per share for the current fiscal year.

Insider Buying and Selling at CI Financial

In other CI Financial news, Senior Officer Amit Muni sold 7,424 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of C$14.54, for a total transaction of C$107,981.34. In other news, Senior Officer Amit Muni sold 7,424 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of C$14.54, for a total transaction of C$107,981.34. Also, Senior Officer Manisha Burman sold 11,953 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of C$14.23, for a total transaction of C$170,136.61. Company insiders own 15.02% of the company’s stock.

About CI Financial

CI Financial Corp. is a publicly owned asset management holding company. Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios. It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries.