Gluskin Sheff + Associates Inc (GS) Trading Down 8.6%

Gluskin Sheff + Associates Inc (TSE:GS)’s share price was down 8.6% during mid-day trading on Wednesday . The company traded as low as C$16.54 and last traded at C$16.65. Approximately 264,906 shares were traded during mid-day trading, an increase of 296% from the average daily volume of 66,976 shares. The stock had previously closed at C$18.21.

A number of equities analysts recently issued reports on GS shares. CIBC reissued an “outperform” rating on shares of Gluskin Sheff + Associates in a report on Thursday, June 29th. TD Securities increased their price objective on Gluskin Sheff + Associates from C$17.00 to C$19.00 and gave the stock a “hold” rating in a report on Friday, July 7th. Scotiabank downgraded Gluskin Sheff + Associates from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$20.00 to C$18.00 in a research report on Wednesday. Finally, BMO Capital Markets restated a “market perform” rating and issued a C$18.00 target price on shares of Gluskin Sheff + Associates in a research report on Friday, July 7th. Seven research analysts have rated the stock with a hold rating, Gluskin Sheff + Associates has an average rating of “Hold” and a consensus price target of C$17.86.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Tuesday, October 3rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 2nd. This is a boost from Gluskin Sheff + Associates’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 6.17%.

In other Gluskin Sheff + Associates news, insider Peter Aaron Zaltz sold 8,221 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of C$17.32, for a total value of C$142,387.72.

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About Gluskin Sheff + Associates

Gluskin Sheff + Associates Inc is a wealth management company serving high net worth private clients and institutional investors. The Company provides discretionary investment management services. It provides private client services to high net worth investors, including entrepreneurs, family trusts, private charitable foundations and estates.

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