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

Cineverse Corp. (NASDAQ:CNVS) insider Mark Antonio Huidor sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $2.68, for a total value of $40,200.00. Following the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Cineverse Price Performance

CNVS opened at $2.53 on Friday. The company has a market capitalization of $60.14 million, a price-to-earnings ratio of -4.29 and a beta of 1.50. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.34. Cineverse Corp. has a 12-month low of $1.77 and a 12-month high of $5.43. The business’s fifty day simple moving average is $2.72 and its 200-day simple moving average is $2.59.

Cineverse (NASDAQ:CNVS) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.10). Cineverse had a negative net margin of 12.87% and a negative return on equity of 50.16%. The firm had revenue of $30.59 million during the quarter, compared to the consensus estimate of $25.67 million.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Cineverse

Several hedge funds have recently modified their holdings of the company. Prelude Capital Management LLC grew its position in shares of Cineverse by 31.1% in the 3rd quarter. Prelude Capital Management LLC now owns 17,037 shares of the company’s stock worth $57,000 after buying an additional 4,037 shares during the last quarter. Geode Capital Management LLC boosted 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cineverse by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 78,936 shares of the company’s stock valued at $166,000 after acquiring an additional 8,155 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Cineverse by 61.3% in the second quarter. Osaic Holdings Inc. now owns 22,902 shares of the company’s stock worth $109,000 after purchasing an additional 8,700 shares during the last quarter. Finally, AXQ Capital LP purchased a new position in Cineverse in the second quarter worth $31,000. 8.19% of the stock is owned by hedge funds and other institutional investors.

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.