CI Financial (TSE:CIX) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• CI Financial Corp. (TSE:CIX) recently surpassed its two hundred day moving average, with shares trading up to C$32.00 and closing at C$31.99.
• The company has seen significant insider selling, with notable transactions including 16,000 shares sold by Senior Officer Edward Douglas Kelterborn and 50,000 shares sold by Director Brigette Elizabeth Chang.
• CI Financial manages CAD 129.2 billion in fund assets and is one of the largest nonbank-affiliated asset managers in Canada.

CI Financial Corp. (TSE:CIX - ) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$31.42 and traded as high as C$32.00. CI Financial shares last traded at C$31.99, with a volume of 530,687 shares traded.

CI Financial Stock Up 0.1%

The firm has a 50-day moving average price of C$31.70 and a two-hundred day moving average price of C$31.42. The firm has a market cap of C$4.61 billion, a price-to-earnings ratio of -66.69, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company has a debt-to-equity ratio of 506.88, a quick ratio of 0.17 and a current ratio of 0.32.

Insiders Place Their Bets

In other CI Financial news, Senior Officer Edward Douglas Kelterborn sold 16,000 shares of CI Financial stock in a transaction that occurred on Monday, June 2nd. The stock was 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 dated Wednesday, May 28th. The shares were sold at an average price of C$31.48, for a total transaction of C$1,574,020.00. Over the last 90 days, insiders have sold 175,900 shares of company stock valued at $5,532,693. 15.83% of the stock is currently owned by insiders.

CI Financial Company Profile

CI Financial is a diversified provider of wealth management products and services, primarily in the Canadian market. The company had CAD 129.2 billion in fund assets under management, and another CAD 221.5 billion in assets under advisement, at the end of April 2022, making it one of the largest nonbank affiliated asset managers in Canada.

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