Cinedigm Corp (CIDM) Shares Up -12.2%

Cinedigm Corp (NASDAQ:CIDM) shot up 12.2% during trading on Wednesday . The company traded as high as $1.79 and last traded at $1.44. 353,286 shares changed hands during mid-day trading, an increase of 432% from the average session volume of 66,463 shares. The stock had previously closed at $1.64.

Separately, ValuEngine upgraded shares of Cinedigm Corp from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st.

Cinedigm Corp (NASDAQ:CIDM) last posted its earnings results on Monday, August 14th. The business services provider reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.37. The firm had revenue of $15.24 million during the quarter.

An institutional investor recently raised its position in Cinedigm Corp stock. Renaissance Technologies LLC increased its stake in Cinedigm Corp (NASDAQ:CIDM) by 35.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,040 shares of the business services provider’s stock after acquiring an additional 113,100 shares during the period. Renaissance Technologies LLC owned approximately 4.10% of Cinedigm Corp worth $668,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.69% of the company’s stock.

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Cinedigm Corp Company Profile

Cinedigm Corp. is a distributor and aggregator of independent movie, television and other short form content managing a library of distribution rights to thousands of titles and episodes released across digital, physical, and home and mobile entertainment platforms. The Company also provides digital cinema assets servicing on over 12,000 domestic and foreign movie screens.

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