Cineverse (NASDAQ:CNVS) Insider Acquires $50,000.00 in Stock

Cineverse Corp. (NASDAQ:CNVS) insider Mark Torres purchased 25,000 shares of the stock in a transaction on Tuesday, February 17th. The shares were purchased at an average price of $2.00 per share, with a total value of $50,000.00. Following the acquisition, the insider owned 183,274 shares in the company, valued at approximately $366,548. The trade was a 15.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cineverse Stock Up 0.3%

CNVS opened at $2.98 on Friday. Cineverse Corp. has a twelve month low of $1.77 and a twelve month high of $7.39. The company has a fifty day moving average of $2.15 and a 200-day moving average of $3.05. The stock has a market cap of $58.32 million, a PE ratio of -5.62 and a beta of 1.66.

Cineverse (NASDAQ:CNVS) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Cineverse had a negative return on equity of 27.40% and a negative net margin of 16.67%.The business had revenue of $16.29 million for the quarter, compared to analyst estimates of $20.00 million.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CNVS. StoneX Group Inc. purchased a new stake in Cineverse in the 4th quarter valued at $30,000. Sugar Maple Asset Management LLC bought a new stake in shares of Cineverse in the 3rd quarter worth $42,000. Kathmere Capital Management LLC purchased a new stake in shares of Cineverse in the third quarter valued at about $44,000. Hillsdale Investment Management Inc. bought a new position in shares of Cineverse during the second quarter valued at about $48,000. Finally, Prelude Capital Management LLC boosted its holdings in Cineverse by 31.1% during the third quarter. Prelude Capital Management LLC now owns 17,037 shares of the company’s stock worth $57,000 after purchasing an additional 4,037 shares during the last quarter. Hedge funds and other institutional investors own 8.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on CNVS shares. Wall Street Zen lowered shares of Cineverse from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Benchmark reaffirmed a “speculative buy” rating on shares of Cineverse in a research note on Monday, November 17th. Alliance Global Partners reissued a “buy” rating on shares of Cineverse in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cineverse in a research note on Monday, December 29th. Finally, UBS Group set a $9.00 price objective on Cineverse in a research note on Friday, October 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.00.

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.