Cineverse Corp. (NASDAQ:CNVS – Get Free Report) insider Mark Antonio Huidor sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $2.68, for a total transaction of $40,200.00. Following the transaction, the insider directly owned 183,170 shares of the company’s stock, valued at $490,895.60. This represents a 7.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Cineverse Stock Down 4.8%
NASDAQ CNVS opened at $2.58 on Friday. Cineverse Corp. has a twelve month low of $1.77 and a twelve month high of $5.43. The stock has a market cap of $61.33 million, a PE ratio of -4.37 and a beta of 1.50. The firm has a 50-day simple moving average of $2.72 and a 200 day simple moving average of $2.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.75 and a current ratio of 0.75.
Cineverse (NASDAQ:CNVS – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.10). The firm had revenue of $30.59 million for the quarter, compared to the consensus estimate of $25.67 million. Cineverse had a negative net margin of 12.87% and a negative return on equity of 50.16%.
Analysts Set New Price Targets
View Our Latest Stock Report on Cineverse
Institutional Investors Weigh In On Cineverse
A number of institutional investors have recently added to or reduced their stakes in CNVS. Corsair Capital Management L.P. lifted its position in shares of Cineverse by 45.7% during the 1st quarter. Corsair Capital Management L.P. now owns 1,119,650 shares of the company’s stock worth $2,687,000 after buying an additional 351,000 shares during the period. Geode Capital Management LLC grew its position in Cineverse by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 168,711 shares of the company’s stock valued at $356,000 after acquiring an additional 6,952 shares during the period. Dimensional Fund Advisors LP grew its position in Cineverse by 41.1% in the third quarter. Dimensional Fund Advisors LP now owns 70,781 shares of the company’s stock valued at $238,000 after acquiring an additional 20,616 shares during the period. Osaic Holdings Inc. raised its stake in Cineverse by 61.3% during the second quarter. Osaic Holdings Inc. now owns 22,902 shares of the company’s stock worth $109,000 after acquiring an additional 8,700 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Cineverse by 551.1% during the second quarter. Marshall Wace LLP now owns 102,237 shares of the company’s stock valued at $489,000 after acquiring an additional 86,534 shares during the period. 8.19% of the stock is owned by institutional investors and hedge funds.
Cineverse Company Profile
Cineverse (NASDAQ: CNVS), formerly known as Cinedigm, is a digital entertainment company that acquires, produces and distributes film and television content across a range of platforms. Through its streaming division, the company offers a portfolio of direct-to-consumer channels and apps—spanning genres such as horror, faith and family, documentaries and classic cinema—on both AVOD (ad-supported) and FAST (free ad-supported television) services. Cineverse also licenses its curated libraries to third-party streaming platforms, pay-TV operators and retail video-on-demand providers.
In addition to its consumer-facing streaming business, Cineverse operates a digital cinema network that supplies hardware, software and content delivery solutions to cinema exhibitors throughout North America.
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