Canaccord Genuity Group (TSE:CF) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$12.92 and traded as high as C$14.42. Canaccord Genuity Group shares last traded at C$14.14, with a volume of 110,231 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Ventum Financial upped their target price on Canaccord Genuity Group from C$15.50 to C$16.50 and gave the company a "buy" rating in a report on Friday, June 5th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Canaccord Genuity Group presently has an average rating of "Buy" and an average target price of C$16.25.

Canaccord Genuity Group Stock Down 0.2%

The business's 50 day simple moving average is C$14.26 and its 200-day simple moving average is C$12.92. The company has a market cap of C$1.42 billion, a price-to-earnings ratio of -9.75, a price-to-earnings-growth ratio of 0.54 and a beta of 1.34. The company has a debt-to-equity ratio of 104.59, a quick ratio of 1.05 and a current ratio of 1.14.

Canaccord Genuity Group (TSE:CF - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The financial services provider reported C$0.48 earnings per share for the quarter. Canaccord Genuity Group had a negative net margin of 5.94% and a negative return on equity of 17.40%. The business had revenue of C$612.69 million for the quarter. Sell-side analysts expect that Canaccord Genuity Group Inc. will post 0.8618357 earnings per share for the current year.

Canaccord Genuity Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.10 dividend. The ex-dividend date was Friday, June 19th. This represents a $0.40 dividend on an annualized basis and a yield of 2.8%. Canaccord Genuity Group's payout ratio is -23.45%.

Insiders Place Their Bets

In other Canaccord Genuity Group news, Director Donald Duncan Macfayden sold 29,000 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of C$14.82, for a total value of C$429,780.00. Following the transaction, the director directly owned 161,705 shares of the company's stock, valued at C$2,396,468.10. This represents a 15.21% decrease in their position. 4.61% of the stock is currently owned by insiders.

About Canaccord Genuity Group

Canaccord Genuity Group Inc, a full-service financial services company, provides investment products, and investment banking and brokerage services to institutional, corporate, and private clients. It operates in two segments, Canaccord Genuity Capital Markets and Canaccord Genuity Wealth Management. The Canaccord Genuity Capital Markets segment offers investment banking, advisory, research, merger and acquisition, sales, and trading services. The Canaccord Genuity Wealth Management segment provides wealth management solutions, and brokerage and financial planning services to individual investors, private clients, charities, and intermediaries.

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