Computer Modelling Group (TSE:CMG) Stock Price Down 18.1% - Here's Why

Key Points

• Computer Modelling Group Ltd. stock price dropped 18.1% during mid-day trading, hitting a low of C$6.22, compared to a previous close of C$7.85.
• Analysts have downgraded the stock from a "strong-buy" to a "hold" rating, indicating a shift in market sentiment, with an average price target of C$13.14.
• The company recently announced a quarterly dividend of $0.05 per share, reflecting a 3.1% yield, while also seeing notable insider transactions with shares bought and sold.

Computer Modelling Group Ltd. (TSE:CMG - Get Free Report) fell 18.1% during mid-day trading on Thursday . The company traded as low as C$6.22 and last traded at C$6.43. 198,538 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 181,441 shares. The stock had previously closed at C$7.85.

Wall Street Analysts Forecast Growth

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

Computer Modelling Group Stock Performance

The company has a debt-to-equity ratio of 47.62, a current ratio of 1.27 and a quick ratio of 2.25. The company has a 50 day simple moving average of C$7.32 and a 200-day simple moving average of C$7.96. The stock has a market capitalization of C$517.19 million, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 1.97 and a beta of 1.21.

Computer Modelling Group Dividend Announcement

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

Insider Buying and Selling at Computer Modelling Group

In other news, Director Birgit Troy acquired 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 stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average price of C$4.99 per share, with a total value of C$30,455.47. In the last three months, insiders bought 21,346 shares of company stock valued at $136,969 and 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.