CI Financial (NYSE:CIXXF) Shares Gap Down – Should You Sell?

CI Financial Corp. (NYSE:CIXXF) shares gapped down before the market opened on Wednesday . The stock had previously closed at $21.61, but opened at $20.60. CI Financial shares last traded at $21.50, with a volume of 13,226 shares changing hands.

Wall Street Analysts Forecast Growth

CIXXF has been the topic of a number of recent analyst reports. Raymond James lowered CI Financial from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods cut shares of CI Financial from a “moderate buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, TD Securities lowered shares of CI Financial from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, November 27th.

CI Financial Trading Down 0.1 %

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 capitalization of $3.12 billion, a PE ratio of -65.45 and a beta of 1.41. The stock’s 50 day moving average is $21.72 and its two-hundred day moving average is $18.55.

CI Financial Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st were paid a dividend of $0.1457 per share. The ex-dividend date was Tuesday, December 31st. This represents a dividend yield of 2.71%. CI Financial’s dividend payout ratio is presently -26.44%.

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.