Cineplex (TSE:CGX) Shares Pass Above 200-Day Moving Average – What’s Next?

Cineplex Inc. (TSE:CGX)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.39 and traded as high as C$11.97. Cineplex shares last traded at C$11.86, with a volume of 331,163 shares traded.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price objective on Cineplex from C$11.50 to C$12.00 in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.71.

Cineplex Stock Performance

The company has a market cap of C$755.24 million, a PE ratio of -10.59, a P/E/G ratio of 0.30 and a beta of 2.74. The company has a current ratio of 0.36, a quick ratio of 0.22 and a debt-to-equity ratio of 30,533.69. The business has a fifty day moving average of C$11.51 and a 200-day moving average of C$10.39.

Insider Buying and Selling at Cineplex

In other news, Director Ellis Jacob sold 29,874 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$10.02, for a total value of C$299,337.48. In the last three months, insiders have sold 33,615 shares of company stock valued at $340,197. 1.85% of the stock is currently owned by corporate insiders.

Cineplex Company Profile

Cineplex Inc, together with its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Location-Based Entertainment. The company engages in theatre exhibitions and food service activities; and provision of alternative programming service comprising international film programming, as well as content offered under the Event Cinema brand, including The Metropolitan Opera, sporting events, concerts, and dedicated event screens.