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 dated Monday, February 24th. The stock was sold at an average price of $3.96, for a total transaction of $79,200.00. Following the transaction, the director now owns 245,548 shares in the company, valued at approximately $972,370.08. The trade was a 7.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Cineverse Stock Down 1.6 %

CNVS traded down $0.06 during midday trading on Wednesday, reaching $3.67. 142,129 shares of the company’s stock were exchanged, compared to its average volume of 181,801. Cineverse Corp. has a one year low of $0.71 and a one year high of $4.89. The business has a 50-day simple moving average of $3.85 and a two-hundred day simple moving average of $2.64. The firm has a market capitalization of $58.65 million, a price-to-earnings ratio of -3.50 and a beta of 1.63.

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

Hedge Funds Weigh In On Cineverse

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of Cineverse in the third quarter valued at $31,000. Millennium Management LLC bought a new stake in Cineverse during the 4th quarter worth about $56,000. Dimensional Fund Advisors LP acquired a new stake in Cineverse in the 4th quarter valued at about $66,000. Northern Trust Corp raised its stake in shares of Cineverse by 62.4% in the fourth quarter. Northern Trust Corp now owns 21,178 shares of the company’s stock worth $77,000 after acquiring an additional 8,139 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Cineverse during the fourth quarter worth approximately $79,000. Institutional investors and hedge funds own 8.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Benchmark boosted their price objective on Cineverse from $9.00 to $10.00 and gave the company a “speculative buy” rating in a research 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.