CI Financial (TSE:CIX) Share Price Passes Above Two Hundred Day Moving Average of $19.73

Shares of CI Financial Corp (TSE:CIX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.73 and traded as high as $19.14. CI Financial shares last traded at $19.05, with a volume of 314,919 shares.

A number of brokerages have recently issued reports on CIX. BMO Capital Markets upped their price target on CI Financial from C$24.00 to C$25.00 in a research report on Friday, May 10th. TD Securities reduced their price target on CI Financial from C$21.00 to C$20.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada upped their price target on CI Financial from C$18.00 to C$21.00 and gave the stock an “underperform” rating in a research report on Friday, May 10th. Finally, CIBC reduced their price target on CI Financial from C$22.00 to C$21.00 in a research report on Friday, August 9th.

The stock has a market capitalization of $4.48 billion and a PE ratio of 8.52. The company has a debt-to-equity ratio of 104.47, a current ratio of 1.07 and a quick ratio of 0.62. The business’s fifty day moving average price is C$19.54 and its two-hundred day moving average price is C$19.73.

CI Financial (TSE:CIX) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.58. The company had revenue of C$530.32 million for the quarter. As a group, equities research analysts anticipate that CI Financial Corp will post 2.44 earnings per share for the current fiscal year.

In related news, Director William Thomas Holland acquired 155,200 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of C$18.10 per share, with a total value of C$2,808,747.52. Following the completion of the acquisition, the director now directly owns 392,327 shares of the company’s stock, valued at C$7,100,177.12.

About CI Financial (TSE:CIX)

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.

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