Manisha Burman Sells 11,953 Shares of CI Financial Corp. (TSE:CIX) Stock

CI Financial Corp. (TSE:CIX) Senior Officer Manisha Burman sold 11,953 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of C$14.23, for a total value of C$170,136.61.

CI Financial Stock Performance

Shares of CI Financial stock opened at C$14.18 on Friday. The business’s fifty day simple moving average is C$15.28 and its 200 day simple moving average is C$15.74. The firm has a market capitalization of C$2.15 billion, a P/E ratio of -12.55, a price-to-earnings-growth ratio of 0.70 and a beta of 1.63. CI Financial Corp. has a 12 month low of C$12.51 and a 12 month high of C$17.73. The company has a current ratio of 0.47, a quick ratio of 0.17 and a debt-to-equity ratio of 160.56.

CI Financial (TSE:CIX) last issued its quarterly earnings results on Friday, May 10th. The company reported C$0.86 EPS for the quarter, missing analysts’ consensus estimates of C$0.87 by C($0.01). The business had revenue of C$645.68 million for the quarter, compared to the consensus estimate of C$690.26 million. CI Financial had a negative return on equity of 8.77% and a negative net margin of 5.55%. As a group, analysts anticipate that CI Financial Corp. will post 3.5167464 EPS for the current year.

Wall Street Analysts Forecast Growth

CIX has been the subject of a number of research reports. Royal Bank of Canada reduced their price objective on CI Financial from C$20.00 to C$18.00 and set a “sector perform” rating for the company in a research note on Monday, May 13th. Jefferies Financial Group cut their target price on CI Financial from C$20.00 to C$19.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Keefe, Bruyette & Woods cut their target price on CI Financial from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a research report on Monday, May 13th. CIBC cut their target price on CI Financial from C$17.50 to C$17.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Finally, Scotiabank lifted their target price on CI Financial from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CI Financial has a consensus rating of “Moderate Buy” and an average price target of C$19.56.

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.