Mary Ann Halford Sells 20,000 Shares of Cineverse Corp. (NASDAQ:CNVS) Stock

Cineverse Corp. (NASDAQ:CNVS) Director Mary Ann Halford sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $3.96, for a total transaction of $79,200.00. Following the completion of the transaction, the director now owns 245,548 shares in the company, valued at approximately $972,370.08. This represents a 7.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Cineverse Stock Performance

NASDAQ:CNVS opened at $3.65 on Friday. The company has a market capitalization of $58.33 million, a P/E ratio of -3.48 and a beta of 1.63. The stock’s 50 day moving average price is $3.86 and its 200 day moving average price is $2.65. Cineverse Corp. has a 52 week low of $0.71 and a 52 week high of $4.89.

Cineverse (NASDAQ:CNVS) last announced its quarterly earnings results 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

Hedge funds have recently bought and sold shares of the business. Corsair Capital Management L.P. boosted its stake in shares of Cineverse by 86.6% during the 3rd quarter. Corsair Capital Management L.P. now owns 617,159 shares of the company’s stock worth $604,000 after acquiring an additional 286,507 shares in the last quarter. Virtu Financial LLC acquired a new stake in Cineverse in the 3rd quarter worth approximately $31,000. Geode Capital Management LLC boosted its position in Cineverse by 24.4% during the fourth quarter. Geode Capital Management LLC now owns 139,716 shares of the company’s stock worth $510,000 after purchasing an additional 27,412 shares during the period. Renaissance Technologies LLC grew its holdings in Cineverse by 580.0% during the fourth quarter. Renaissance Technologies LLC now owns 148,247 shares of the company’s stock valued at $541,000 after purchasing an additional 126,447 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of Cineverse in the fourth quarter valued at approximately $66,000. 8.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Benchmark boosted their price target on shares of Cineverse from $9.00 to $10.00 and gave the company a “speculative buy” rating in a report on Friday, November 15th.

About Cineverse

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.