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

Shares of Cineplex Inc. (TSE:CGX) 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 trading hands.

Wall Street Analyst Weigh In

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

Cineplex Stock Performance

The firm has a market capitalization of C$755.24 million, a PE ratio of -10.59, a price-to-earnings-growth 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’s 50 day simple moving average is C$11.51 and its two-hundred day simple moving average is C$10.39.

Insider Buying and Selling at Cineplex

In other news, Director Ellis Jacob sold 29,874 shares of the company’s stock in a transaction 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 ninety days, insiders sold 33,615 shares of company stock worth $340,197. Insiders own 1.85% of the company’s stock.

About Cineplex

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.