Cineplex (TSE:CGX) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

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 changing hands.

Analyst Ratings Changes

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

Cineplex Stock Performance

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 company has a market cap of C$755.24 million, a P/E ratio of -10.59, a price-to-earnings-growth ratio of 0.30 and a beta of 2.74. The company has a 50 day moving average price of C$11.55 and a 200-day moving average price of C$10.42.

Insider Buying and Selling at Cineplex

In related news, Director Ellis Jacob sold 29,874 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$10.02, for a total value of C$299,337.48. Insiders have sold 33,615 shares of company stock worth $340,197 over the last quarter. Corporate 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.