Canaccord Genuity Group (TSE:CF) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Canaccord Genuity Group shares moved above their 200-day moving average, trading as high as C$14.74 and last changing hands at C$14.71, which may signal improving technical momentum.
• Analysts remain upbeat on the stock: Ventum Financial raised its price target to C$16.50 and maintained a buy rating, while the consensus target stands at C$16.25.
• The company recently reported quarterly EPS of C$0.48 and paid a C$0.10 per-share dividend, while a director also sold 29,000 shares in late June.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$12.57 and traded as high as C$14.74. Canaccord Genuity Group shares last traded at C$14.71, with a volume of 171,843 shares.

Analysts Set New Price Targets

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

Canaccord Genuity Group Stock Performance

The business's 50 day moving average is C$13.52 and its two-hundred day moving average is C$12.57. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 104.59. The company has a market cap of C$1.48 billion, a PE ratio of -10.14, a PEG ratio of 0.54 and a beta of 1.34.

Canaccord Genuity Group (TSE:CF - Get Free Report) last announced its 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 return on equity of 17.40% and a negative net margin of 5.94%.The firm had revenue of C$612.69 million for the quarter. On average, equities research analysts anticipate that Canaccord Genuity Group Inc. will post 0.8618357 EPS for the current year.

Canaccord Genuity Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, June 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.7%. Canaccord Genuity Group's payout ratio is presently -23.45%.

Insider Activity

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