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

Key Points

• Computer Modelling Group Ltd. shares fell 18.3% to C$6.41 after trading as low as C$6.22, with a significant increase in trading volume of 603% from the average.
• Analysts have downgraded the company's rating from "strong-buy" to "hold", with a consensus target price of C$13.14.
• The company recently announced a quarterly dividend of $0.05 per share, yielding approximately 3.1%, with a payout ratio of 65.95%.

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

Analysts Set New Price Targets

Separately, Ventum Cap Mkts cut shares of Computer Modelling Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of C$13.14.

Computer Modelling Group Stock Up 2.2%

The stock has a market capitalization of C$528.48 million, a price-to-earnings ratio of 21.60, a PEG ratio of 1.97 and a beta of 1.21. The firm's fifty day moving average is C$7.31 and its 200-day moving average is C$7.91. The company has a debt-to-equity ratio of 47.62, a current ratio of 1.27 and a quick ratio of 2.25.

Computer Modelling Group Announces Dividend

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

Insider Activity at Computer Modelling Group

In other Computer Modelling Group news, Director Birgit Troy bought 11,100 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were bought at an average cost of C$6.99 per share, with a total value of C$77,589.00. Also, Senior Officer Pramod Jain bought 6,100 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were acquired at an average cost of C$4.99 per share, for a total transaction of C$30,455.47. Over the last ninety 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 currently owned by corporate 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.