Insider Selling: CI Financial Corp. (TSE:CIX) Director Sells 574 Shares of Stock

CI Financial Corp. (TSE:CIX - Get Free Report) Director Jennifer Francine Sinopoli sold 574 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of C$31.02, for a total transaction of C$17,805.48. Following the completion of the sale, the director now directly owns 554 shares in the company, valued at C$17,185.08. This represents a 50.89 % decrease in their ownership of the stock.

CI Financial Price Performance

Shares of CI Financial stock traded down C$0.04 during trading hours on Monday, hitting C$31.00. The company's stock had a trading volume of 566,730 shares, compared to its average volume of 468,598. The company has a market cap of C$4.38 billion, a PE ratio of -114.89, a PEG ratio of 0.04 and a beta of 1.67. The company has a debt-to-equity ratio of 577.47, a quick ratio of 0.17 and a current ratio of 0.34. The business has a 50 day moving average price of C$24.74 and a two-hundred day moving average price of C$19.01. CI Financial Corp. has a 12-month low of C$13.87 and a 12-month high of C$31.41.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CIX shares. Keefe, Bruyette & Woods cut CI Financial from an "outperform" rating to a "market perform" rating and upped their price objective for the company from C$28.00 to C$31.50 in a research report on Tuesday, November 26th. TD Securities downgraded CI Financial from a "buy" rating to a "sell" rating and upped their price target for the company from C$28.00 to C$32.00 in a report on Tuesday, November 26th. Jefferies Financial Group increased their price objective on CI Financial from C$20.00 to C$27.00 and gave the company a "buy" rating in a research report on Friday, November 1st. BMO Capital Markets boosted their target price on CI Financial from C$22.00 to C$25.00 in a research report on Friday, November 15th. Finally, CIBC upped their target price on shares of CI Financial from C$23.00 to C$32.00 in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of C$27.94.

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.