Insider Selling: CI Financial Corp. (TSE:CIX) Director Sells C$17,805.48 in Stock

CI Financial Corp. (TSE:CIX) Director Jennifer Francine Sinopoli sold 574 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of C$31.02, for a total transaction of C$17,805.48. Following the transaction, the director now directly owns 554 shares of the company’s stock, valued at approximately C$17,185.08. This trade represents a 50.89 % decrease in their position.

CI Financial Stock Down 0.7 %

Shares of TSE CIX opened at C$30.68 on Thursday. CI Financial Corp. has a 12-month low of C$13.87 and a 12-month high of C$31.41. The stock has a market cap of C$4.33 billion, a P/E ratio of -113.63, a PEG ratio of 0.04 and a beta of 1.67. The company has a current ratio of 0.34, a quick ratio of 0.17 and a debt-to-equity ratio of 577.47. The business’s fifty day simple moving average is C$25.46 and its 200-day simple moving average is C$19.28.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of CI Financial from C$22.00 to C$25.00 in a report on Friday, November 15th. Jefferies Financial Group upped their price target on CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods lowered CI Financial from an “outperform” rating to a “market perform” rating and raised their price target for the stock from C$28.00 to C$31.50 in a research report on Tuesday, November 26th. Raymond James boosted their price objective on CI Financial from C$27.00 to C$32.00 in a report on Tuesday, November 26th. Finally, CIBC increased their target price on CI Financial from C$23.00 to C$32.00 in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$27.94.

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.