Zazove Associates LLC Declares Ownership of Stake in Cinedigm Corp (CIDM)
Zazove Associates LLC
revealed that they own a 2.9% stake in Cinedigm Corp (NASDAQ:CIDM) in a Schedule 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Thursday, December 14th. The investor owns 1,034,828 shares of the stock valued at approximately $1,562,590. The reporting parties listed on the disclosure included Zazove Associates, LLC 363984373, Zazove Associates, Inc 363630548 and Gene T Pretti. The disclosure is available through Edgar at this hyperlink.
Separately, Renaissance Technologies LLC raised its position in shares of Cinedigm by 35.6% during the 1st quarter. Renaissance Technologies LLC now owns 431,040 shares of the business services provider’s stock valued at $668,000 after acquiring an additional 113,100 shares during the last quarter. 5.55% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on CIDM. ValuEngine raised shares of Cinedigm from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Cinedigm from a “strong sell” rating to a “sell” rating in a research note on Friday, November 3rd.
Shares of Cinedigm Corp (CIDM) traded down $0.02 during mid-day trading on Thursday, hitting $1.51. 12,800 shares of the stock were exchanged, compared to its average volume of 145,135. The company has a current ratio of 0.43, a quick ratio of 0.42 and a debt-to-equity ratio of -0.68. Cinedigm Corp has a 12 month low of $1.11 and a 12 month high of $3.00.
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Cinedigm Corp. is a distributor and aggregator of independent movie, television and other short form content managing a library of distribution rights to thousands of titles and episodes released across digital, physical, and home and mobile entertainment platforms. The Company also provides digital cinema assets servicing on over 12,000 domestic and foreign movie screens.
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