CI Financial (TSE:CIX) Share Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• CI Financial Corp. shares have recently crossed above their 200-day moving average, indicating potential upward momentum in the stock price.
• Insider transactions are notable, with directors selling a combined 70,000 shares of the company, raising questions about insiders' confidence in the stock's future performance.
• CI Financial's market capitalization stands at C$4.61 billion, with a significantly high debt-to-equity ratio of 506.88, suggesting potential financial risk.

CI Financial Corp. (TSE:CIX - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$31.38 and traded as high as C$31.96. CI Financial shares last traded at C$31.96, with a volume of 793,454 shares changing hands.

CI Financial Stock Performance

The stock has a market cap of C$4.60 billion, a PE ratio of -66.58, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The firm has a 50-day moving average price of C$31.66 and a 200-day moving average price of C$31.40. The company has a debt-to-equity ratio of 506.88, a quick ratio of 0.17 and a current ratio of 0.32.

Insider Transactions at CI Financial

In related news, Senior Officer Edward Douglas Kelterborn sold 16,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of C$31.46, for a total transaction of C$503,360.00. Also, Director Brigette Elizabeth Chang sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of C$31.48, for a total value of C$1,574,020.00. Over the last 90 days, insiders have sold 175,900 shares of company stock worth $5,532,693. Corporate insiders own 15.83% of the company's stock.

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.