Cineverse Corp. (NASDAQ:CNVS) Director Mary Ann Halford Sells 20,000 Shares

Cineverse Corp. (NASDAQ:CNVS) Director Mary Ann Halford sold 20,000 shares of the business’s stock in a transaction 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 sale, the director now owns 245,548 shares of the company’s stock, valued at approximately $972,370.08. The trade was a 7.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Cineverse Trading Down 1.6 %

Shares of CNVS traded down $0.06 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 12 month low of $0.71 and a 12 month high of $4.89. The stock has a market capitalization of $58.65 million, a P/E ratio of -3.50 and a beta of 1.63. The business has a 50 day moving average price of $3.85 and a two-hundred day moving average price of $2.64.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Cineverse

Several hedge funds have recently added to or reduced their stakes in CNVS. Citadel Advisors LLC grew its position in shares of Cineverse by 16.7% during the 4th quarter. Citadel Advisors LLC now owns 27,104 shares of the company’s stock worth $99,000 after buying an additional 3,887 shares during the period. Northern Trust Corp boosted its stake in Cineverse by 62.4% during the 4th 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. Millennium Management LLC acquired a new position in Cineverse during the fourth quarter valued at approximately $56,000. Dimensional Fund Advisors LP acquired a new position in Cineverse during the fourth quarter valued at approximately $66,000. Finally, Jane Street Group LLC bought a new stake in Cineverse in the fourth quarter valued at approximately $79,000. Institutional investors and hedge funds own 8.19% of the company’s stock.

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.