CI Financial (NYSE:CIXXF) Shares Gap Down - What's Next?

Shares of CI Financial Corp. (NYSE:CIXXF - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $22.51, but opened at $21.31. CI Financial shares last traded at $22.48, with a volume of 7,433 shares traded.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered shares of CI Financial from a "moderate buy" rating to a "strong sell" rating in a research note on Thursday, January 23rd.

CI Financial Trading Down 0.0 %

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 firm has a 50 day moving average of $21.94 and a 200 day moving average of $20.50. The firm has a market cap of $3.25 billion, a PE ratio of -68.23 and a beta of 1.36.

CI Financial Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.1432 dividend. This represents a yield of 2.63%. The ex-dividend date of this dividend was Monday, March 31st. CI Financial's dividend payout ratio (DPR) 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.