CI Financial (NYSE:CIXXF) Shares Gap Down – Time to Sell?

Shares of CI Financial Corp. (NYSE:CIXXF) gapped down before the market opened on Monday . The stock had previously closed at $22.17, but opened at $20.93. CI Financial shares last traded at $22.05, with a volume of 5,262 shares.

Wall Street Analysts Forecast Growth

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

CI Financial Stock Performance

The stock has a 50-day moving average price of $16.30 and a 200 day moving average price of $13.21. The firm has a market cap of $3.18 billion, a PE ratio of -66.79 and a beta of 1.31. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.34 and a quick ratio of 0.34.

CI Financial Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.1471 per share. This represents a dividend yield of 4.37%. The ex-dividend date was Friday, September 27th. CI Financial’s dividend payout ratio is currently -178.78%.

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.