CI Financial (NYSE:CIXXF) Sees Strong Trading Volume – Time to Buy?

CI Financial Corp. (NYSE:CIXXF) saw strong trading volume on Tuesday . 14,129 shares were traded during mid-day trading, an increase of 150% from the previous session’s volume of 5,662 shares.The stock last traded at $21.61 and had previously closed at $21.56.

Analyst Upgrades and Downgrades

CIXXF has been the topic of several analyst reports. TD Securities downgraded shares of CI Financial from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods cut CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 25th.

CI Financial Stock Up 0.1 %

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 company has a fifty day simple moving average of $19.88 and a 200-day simple moving average of $15.23. The firm has a market cap of $3.11 billion, a P/E ratio of -65.44 and a beta of 1.42.

CI Financial Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st will be paid a $0.1457 dividend. The ex-dividend date is Tuesday, December 31st. This represents a yield of 2.71%. CI Financial’s payout ratio is presently -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.