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Performance evaluation of NFI Group: Analysis by CIBC CAPITAL MARKETS

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CIBC CAPITAL MARKETS maintained its Underperform rating for NFI Group (TSX:NFI) on August 26, 2023, according to recent reports.

Sentiment of Investment Funds

33 funds or institutions report positions in NFI Group, representing a decrease of 11 owners or 25.00% in the last quarter. The average weight of the portfolio of all funds dedicated to NFI is 0.05%, a reduction of 13.81%. The total shares held by institutions decreased by 39.59% in the last three months, reaching 2,205,000 shares.

Notable Shareholder Movements

  • DFA INVESTMENT TRUST CO - The Canadian Small Company Series holds 316,000 shares, representing 0.35% ownership of the company. No changes in the last quarter.

  • PBD - Invesco Global Clean Energy ETF holds 269,000 shares, representing 0.30% of ownership. It increased its holdings by 15.29% compared to the previous quarter.

  • FNDC - Schwab Fundamental International Small Company Index ETF has 231,000 shares, a 0.26% ownership. Increased its position by 9.18% in the last quarter.

  • DFIEX - International Core Equity Portfolio - Institutional Class holds 193,000 shares, representing 0.21% of the ownership. No changes in the last quarter.

  • IXUS - iShares Core MSCI Total International Stock ETF holds 89,000 shares, representing 0.10% ownership. No changes in the last quarter.

Analysis of Institutional Behavior

The significant decrease in institutional ownership and the number of funds holding positions in NFI Group may indicate a loss of confidence in the company's short-term outlook. However, some funds like PBD and FNDC have increased their positions, suggesting a mixed view among institutional investors.

The “Underperform” recommendation from CIBC CAPITAL MARKETS, along with the overall reduction of institutional holdings, could be a cautionary signal for investors considering entering this stock. However, it is important to conduct a broader analysis of the sector and market conditions before making investment decisions.

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