CI Financial (NYSE:CIXXF) Shares Gap Down – Time to Sell?

CI Financial Corp. (NYSE:CIXXF) gapped down prior to trading on Thursday . The stock had previously closed at $21.51, but opened at $19.65. CI Financial shares last traded at $19.65, with a volume of 155 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CIXXF shares. TD Securities cut CI Financial from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods lowered shares of CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 25th.

CI Financial Stock Performance

The company’s fifty day moving average price is $19.17 and its two-hundred day moving average price is $14.70. The firm has a market capitalization of $3.09 billion, a PE ratio of -64.91 and a beta of 1.43. The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.32 and a current ratio of 0.32.

CI Financial Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st will be issued a $0.1457 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a dividend yield of 2.71%. CI Financial’s dividend payout ratio (DPR) is presently -178.79%.

About CI Financial

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.