Cineplex (TSE:CGX) Stock Price Crosses Above 200 Day Moving Average of $8.17

Cineplex Inc. (TSE:CGX) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$8.17 and traded as high as C$8.38. Cineplex shares last traded at C$8.11, with a volume of 328,062 shares trading hands.

Analysts Set New Price Targets

CGX has been the subject of several analyst reports. Canaccord Genuity Group lowered their target price on Cineplex from C$13.75 to C$13.00 and set a “buy” rating for the company in a research note on Friday, February 9th. BMO Capital Markets raised their target price on shares of Cineplex from C$11.50 to C$12.50 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Scotiabank boosted their price target on shares of Cineplex from C$11.00 to C$11.25 and gave the stock an “outperform” rating in a report on Friday, March 8th. Finally, Royal Bank of Canada dropped their price objective on shares of Cineplex from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Cineplex has an average rating of “Moderate Buy” and an average price target of C$12.88.

Cineplex Price Performance

The company has a debt-to-equity ratio of 7,933.30, a quick ratio of 0.22 and a current ratio of 0.55. The company has a market cap of C$516.44 million, a price-to-earnings ratio of 4.51, a PEG ratio of 0.30 and a beta of 2.84. The company has a 50-day simple moving average of C$8.04 and a 200-day simple moving average of C$8.17.

Insider Buying and Selling at Cineplex

In other news, Senior Officer Gordon Nelson bought 10,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were bought at an average cost of C$7.47 per share, for a total transaction of C$74,700.00. In other news, Senior Officer Kevin David Watts bought 3,200 shares of Cineplex stock in a transaction on Wednesday, February 28th. The shares were bought at an average cost of C$7.92 per share, for a total transaction of C$25,344.00. Also, Senior Officer Gordon Nelson purchased 10,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were purchased at an average price of C$7.47 per share, with a total value of C$74,700.00. Over the last three months, insiders purchased 14,500 shares of company stock valued at $109,911. Corporate insiders own 1.52% 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.