Cineverse Corp. (NASDAQ:CNVS) Director Sells $79,200.00 in Stock

Cineverse Corp. (NASDAQ:CNVS) Director Mary Ann Halford sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $3.96, for a total value of $79,200.00. Following the completion of the transaction, the director now directly owns 245,548 shares in the company, valued at approximately $972,370.08. This represents a 7.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cineverse Stock Performance

NASDAQ CNVS opened at $3.67 on Thursday. The company has a market cap of $58.65 million, a P/E ratio of -3.50 and a beta of 1.63. The business’s 50 day moving average price is $3.85 and its 200-day moving average price is $2.64. Cineverse Corp. has a fifty-two week low of $0.71 and a fifty-two week high of $4.89.

Cineverse (NASDAQ:CNVS) last released its earnings results on Thursday, February 13th. The company reported $0.34 earnings per share for the quarter. Cineverse had a positive return on equity of 7.33% and a negative net margin of 16.52%.

Hedge Funds Weigh In On Cineverse

A number of hedge funds and other institutional investors have recently made changes to their positions in CNVS. Corsair Capital Management L.P. grew its position in shares of Cineverse by 86.6% during the 3rd quarter. Corsair Capital Management L.P. now owns 617,159 shares of the company’s stock worth $604,000 after buying an additional 286,507 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Cineverse by 580.0% during the 4th quarter. Renaissance Technologies LLC now owns 148,247 shares of the company’s stock worth $541,000 after buying an additional 126,447 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Cineverse during the 4th quarter worth $131,000. Virtu Financial LLC bought a new position in shares of Cineverse during the 3rd quarter worth $31,000. Finally, Geode Capital Management LLC grew its position in shares of Cineverse by 24.4% during the 4th quarter. Geode Capital Management LLC now owns 139,716 shares of the company’s stock worth $510,000 after buying an additional 27,412 shares in the last quarter. Institutional investors own 8.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Benchmark upped their price objective on Cineverse from $9.00 to $10.00 and gave the stock a “speculative buy” rating in a report on Friday, November 15th.

Cineverse Company Profile

Cineverse Corp. operates as a streaming technology and entertainment company. The company operates in two segments, Cinema Equipment, and Content and Entertainment. It owns and operates streaming channels, through its proprietary technology platform. The company also delivers curated content through subscription video on demand (SVOD), dedicated ad-supported (AVOD), and ad-supported streaming linear (FAST) channels, as well as social video streaming services and audio podcasts; operates OTT streaming entertainment channels; and offers monitoring, billing, collection, and verification services.