Computer Modelling Group (TSE:CMG) Stock Price Down 18.3% - Here's What Happened

Key Points

• The stock price of Computer Modelling Group Ltd. declined by 18.3% on Friday, closing at C$6.41 after trading as low as C$6.22.
• Ventum Capital Markets downgraded the stock from a "strong-buy" to a "hold" rating, with the average target price set at C$13.14.
• The company recently issued a quarterly dividend of $0.05 per share, representing a 3.1% dividend yield.

Computer Modelling Group Ltd. (TSE:CMG - Get Free Report) was down 18.3% during trading on Friday . The stock traded as low as C$6.22 and last traded at C$6.41. Approximately 1,336,123 shares changed hands during trading, an increase of 603% from the average daily volume of 190,075 shares. The stock had previously closed at C$7.85.

Analysts Set New Price Targets

Separately, Ventum Cap Mkts downgraded Computer Modelling Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Computer Modelling Group presently has a consensus rating of "Hold" and an average price target of C$12.83.

Computer Modelling Group Stock Performance

The company has a market cap of C$518.00 million, a PE ratio of 21.17, a PEG ratio of 1.97 and a beta of 1.21. The company has a quick ratio of 2.25, a current ratio of 1.27 and a debt-to-equity ratio of 47.62. The company has a 50-day moving average of C$7.31 and a 200-day moving average of C$7.85.

Computer Modelling Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, June 13th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.20 annualized dividend and a dividend yield of 3.1%. Computer Modelling Group's payout ratio is presently 65.95%.

Insider Activity at Computer Modelling Group

In related news, Director Birgit Troy bought 11,100 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were bought at an average price of C$6.99 per share, with a total value of C$77,589.00. Also, Director Kenneth Michael Dedeluk sold 20,000 shares of Computer Modelling Group stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of C$7.00, for a total value of C$140,000.00. Over the last 90 days, insiders have purchased 21,346 shares of company stock valued at $136,969 and have sold 51,800 shares valued at $363,190. 1.03% of the stock is owned by insiders.

About Computer Modelling Group

Computer Modelling Group Ltd., a software and consulting technology company, engages in the development and licensing of reservoir simulation and seismic interpretation software and related services. The company offers CMOST-AI, an optimization and analysis tool that offers solution for reservoir by combining advanced statistical analysis, machine learning, and impartial data interpretation; IMEX, a black oil simulator that is used to model primary, secondary, and tertiary oil recovery processes in conventional and unconventional reservoirs; and GEM, an equation-of-state reservoir simulator for compositional, chemical, and unconventional reservoir modelling.