CI Financial (NYSE:CIXXF) Shares Gap Down – Here’s Why

Shares of CI Financial Corp. (NYSE:CIXXF) gapped down prior to trading on Thursday . The stock had previously closed at $21.51, but opened at $19.65. CI Financial shares last traded at $19.65, with a volume of 155 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Securities cut shares of CI Financial from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods downgraded CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 25th.

CI Financial Price Performance

The business’s 50 day moving average price is $19.17 and its 200-day moving average price is $14.70. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 4.53. The company has a market cap of $3.09 billion, a PE ratio of -64.91 and a beta of 1.43.

CI Financial Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 1st will be paid a dividend of $0.1457 per share. This represents a yield of 2.71%. The ex-dividend date is Tuesday, December 31st. CI Financial’s dividend payout ratio (DPR) is -178.79%.

CI Financial Company Profile

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.