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

Key Points

• Computer Modelling Group Ltd.'s stock price fell by 18.3%, trading between C$6.22 and C$6.41, with trading volume spiking to approximately 1.3 million shares.
• Analysts have revised the stock's rating, with Ventum Cap Mkts downgrading it from a "strong-buy" to a "hold," contributing to a consensus rating of "Hold" and an average target price of C$13.14.
• The company announced a quarterly dividend of $0.05, representing an annualized yield of 3.1%, amidst a payout ratio of 65.95%.

Computer Modelling Group Ltd. (TSE:CMG - Get Free Report)'s share price was 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. Approximately 1,336,123 shares were traded during trading, an increase of 603% from the average daily volume of 190,075 shares. The stock had previously closed at C$7.85.

Analyst Ratings Changes

Separately, Ventum Cap Mkts cut Computer Modelling Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$12.83.

Computer Modelling Group Trading Up 1.7%

The business has a 50 day moving average of C$7.31 and a two-hundred day moving average of C$7.85. The company has a current ratio of 1.27, a quick ratio of 2.25 and a debt-to-equity ratio of 47.62. The firm has a market cap of C$518.00 million, a P/E ratio of 21.17, a PEG ratio of 1.97 and a beta of 1.21.

Computer Modelling Group Announces Dividend

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

Insider Activity at Computer Modelling Group

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