CI Financial (NYSE:CIXXF) Shares Gap Down – What’s Next?

CI Financial Corp. (NYSE:CIXXF)’s share price gapped down prior to trading on Monday . The stock had previously closed at $21.98, but opened at $21.54. CI Financial shares last traded at $22.07, with a volume of 1,449 shares.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CIXXF. TD Securities downgraded 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 shares of CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 25th.

CI Financial Price Performance

The company has a market capitalization of $3.16 billion, a P/E ratio of -66.48 and a beta of 1.42. The business’s 50-day simple moving average is $17.32 and its 200 day simple moving average is $13.69. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 4.53.

CI Financial Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.1471 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a dividend yield of 4.37%. 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.