Cineplex Sells Digital Media Division to Creative Realities

An announcement from Cineplex ( (TSE:CGX) ) is now available.

Cineplex has completed the sale of its digital place-based media division, Cineplex Digital Media, to Creative Realities, Inc. for $70 million. The transaction allows Cineplex to retain an exclusive advertising sales agency relationship for digital-out-of-home networks in Canada, potentially enhancing its market position and shareholder value.

The most recent analyst rating on (TSE:CGX) stock is a Buy with a C$14.00 price target. To see the full list of analyst forecasts on Cineplex stock, see the TSE:CGX Stock Forecast page.

Spark’s Take on TSE:CGX Stock

According to Spark, TipRanks’ AI Analyst, TSE:CGX is a Neutral.

Cineplex’s overall stock score reflects a mix of financial challenges and positive market momentum. The most significant factors are the financial instability due to high leverage and negative equity, offset by positive technical indicators and strategic moves highlighted in the earnings call. Valuation remains a concern due to negative earnings.

To see Spark’s full report on TSE:CGX stock, click here.

More about Cineplex

Cineplex is a leading Canadian entertainment and media company operating in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. It runs 171 movie theatres and various entertainment venues like The Rec Room and Playdium, offering a mix of movies, gaming, dining, and live performances. Cineplex is also involved in cinema media, alternative programming, and motion picture distribution, and is a partner in Scene+, Canada’s largest entertainment loyalty program.

Average Trading Volume: 315,012

Technical Sentiment Signal: Buy

Current Market Cap: C$796.8M

For a thorough assessment of CGX stock, go to TipRanks’ Stock Analysis page.