CI Financial Corp (TSE:CIX) Director Purchases C$2,808,747.52 in Stock

CI Financial Corp (TSE:CIX) Director William Thomas Holland purchased 155,200 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of C$18.10 per share, for a total transaction of C$2,808,747.52. Following the purchase, the director now owns 392,327 shares in the company, valued at C$7,100,177.12.

CIX stock opened at C$18.38 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.62 and a debt-to-equity ratio of 104.47. The company has a market capitalization of $4.28 billion and a PE ratio of 8.21. CI Financial Corp has a 12-month low of C$16.47 and a 12-month high of C$22.84. The business’s fifty day moving average price is C$20.68 and its 200 day moving average price is C$19.68.

Several equities research analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on CI Financial from C$18.00 to C$21.00 and gave the company an “underperform” rating in a report on Friday, May 10th. CIBC cut their price objective on CI Financial from C$22.00 to C$21.00 in a report on Friday, August 9th. TD Securities cut their price objective on CI Financial from C$21.00 to C$20.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, BMO Capital Markets boosted their price objective on CI Financial from C$24.00 to C$25.00 in a report on Friday, May 10th.

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.

Further Reading: Limitations of the P/E Growth ratio

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