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 value of $79,200.00. Following the transaction, the director now directly owns 245,548 shares of the company’s stock, valued at $972,370.08. This represents a 7.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cineverse Price Performance

NASDAQ:CNVS opened at $3.65 on Friday. Cineverse Corp. has a one year low of $0.71 and a one year high of $4.89. The company has a fifty day moving average price of $3.86 and a 200 day moving average price of $2.65. The stock has a market cap of $58.33 million, a P/E ratio of -3.48 and a beta of 1.63.

Cineverse (NASDAQ:CNVS) last announced its quarterly earnings data 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%.

Hedge Funds Weigh In On Cineverse

Several large investors have recently added to or reduced their stakes in CNVS. Virtu Financial LLC acquired a new stake in shares of Cineverse during the 3rd quarter worth approximately $31,000. Millennium Management LLC acquired a new stake in Cineverse during the fourth quarter worth $56,000. Dimensional Fund Advisors LP bought a new stake in Cineverse in the 4th quarter valued at $66,000. Northern Trust Corp raised its stake in shares of Cineverse by 62.4% in the 4th quarter. Northern Trust Corp now owns 21,178 shares of the company’s stock valued at $77,000 after buying an additional 8,139 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Cineverse during the 4th quarter worth about $79,000. Institutional investors and hedge funds own 8.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark lifted their price target on Cineverse from $9.00 to $10.00 and gave the stock 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.