Insider Selling: Cineverse Corp. (NASDAQ:CNVS) Director Sells $79,200.00 in Stock

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

Cineverse Trading Up 1.4 %

Shares of CNVS opened at $3.70 on Friday. Cineverse Corp. has a twelve month low of $0.71 and a twelve month high of $4.89. The stock’s 50 day moving average is $3.86 and its two-hundred day moving average is $2.67. The firm has a market capitalization of $59.13 million, a PE ratio of -3.52 and a beta of 1.63.

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 positive return on equity of 7.33% and a negative net margin of 16.52%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Cineverse

Several institutional investors have recently modified their holdings of CNVS. 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 purchased a new stake in shares of Cineverse during the 3rd quarter worth approximately $31,000. Geode Capital Management LLC boosted its stake in shares of Cineverse by 24.4% during the 4th quarter. Geode Capital Management LLC now owns 139,716 shares of the company’s stock worth $510,000 after acquiring an additional 27,412 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Cineverse by 580.0% during the 4th quarter. Renaissance Technologies LLC now owns 148,247 shares of the company’s stock worth $541,000 after acquiring an additional 126,447 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Cineverse during the 4th quarter worth approximately $66,000. Hedge funds and other institutional investors own 8.19% of the company’s stock.

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.