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

Shares of CI Financial Corp. (NYSE:CIXXF) gapped down prior to trading on Wednesday . The stock had previously closed at $21.61, but opened at $20.60. CI Financial shares last traded at $21.50, with a volume of 13,226 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CIXXF shares. Raymond James cut CI Financial from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, January 23rd. TD Securities downgraded CI Financial from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods downgraded CI Financial from a “moderate buy” rating to a “hold” rating in a report on Monday, November 25th.

CI Financial Price Performance

The company’s fifty day moving average price is $21.72 and its 200 day moving average price is $18.59. The company has a market capitalization of $3.11 billion, a P/E ratio of -65.42 and a beta of 1.41. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 4.53.

CI Financial Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 1st were issued a $0.1457 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a yield of 2.71%. CI Financial’s dividend payout ratio (DPR) is presently -26.44%.

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.