Mark Antonio Huidor Sells 15,000 Shares of Cineverse (NASDAQ:CNVS) Stock

Cineverse Corp. (NASDAQ:CNVS) insider Mark Antonio Huidor sold 15,000 shares of the 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 completion of the transaction, the insider directly owned 183,170 shares in the company, valued at $490,895.60. The trade was a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cineverse Stock Performance

NASDAQ CNVS opened at $2.53 on Friday. The firm has a 50-day moving average of $2.72 and a 200-day 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. The stock has a market cap of $60.14 million, a PE ratio of -4.29 and a beta of 1.50. Cineverse Corp. has a 52-week low of $1.77 and a 52-week high of $5.43.

Cineverse (NASDAQ:CNVS) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.10). The company had revenue of $30.59 million during the quarter, compared to analyst estimates of $25.67 million. Cineverse had a negative net margin of 12.87% and a negative return on equity of 50.16%.

Institutional Investors Weigh In On Cineverse

A number of large investors have recently bought and sold shares of the company. Corsair Capital Management L.P. raised its position in shares of Cineverse by 45.7% in the 1st quarter. Corsair Capital Management L.P. now owns 1,119,650 shares of the company’s stock valued at $2,687,000 after buying an additional 351,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Cineverse by 9.7% during the 3rd quarter. Vanguard Group Inc. now owns 623,297 shares of the company’s stock worth $2,094,000 after acquiring an additional 55,219 shares in the last quarter. Corient Private Wealth LLC bought a new position in Cineverse in the second quarter valued at approximately $2,277,000. Geode Capital Management LLC increased its stake 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 last quarter. Finally, Two Sigma Investments LP raised its position in Cineverse by 449.8% during the third quarter. Two Sigma Investments LP now owns 160,631 shares of the company’s stock valued at $540,000 after purchasing an additional 131,416 shares in the last quarter. 8.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNVS has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Cineverse from a “strong sell” rating to a “hold” rating in a research report on Saturday, June 27th. Alliance Global Partners reiterated a “buy” rating on shares of Cineverse in a research note on Friday, June 26th. Weiss Ratings upgraded Cineverse from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, July 8th. Finally, Benchmark reissued a “buy” rating and set a $14.00 price target (up from $12.00) on shares of Cineverse in a research report on Friday, August 14th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Cineverse currently has an average rating of “Hold” and a consensus price target of $11.50.

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.