Key Points
- Insider sale: Cineverse insider Mark Antonio Huidor sold 15,000 shares at an average price of $2.68, generating $40,200. He retained 183,170 shares, reducing his ownership by 7.57%.
- Quarterly results missed expectations: Cineverse reported a loss of $0.28 per share versus the expected $0.18 loss, although revenue of $30.59 million exceeded estimates of $25.67 million. The company continues to report negative profitability metrics.
- Analyst view remains mixed: Two analysts rate Cineverse a Buy and one rates it a Sell, resulting in a consensus “Hold” rating and an average price target of $11.50, well above the stock’s recent price near $2.53.
Cineverse Corp. (NASDAQ:CNVS - Get Free Report) insider Mark Antonio Huidor sold 15,000 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $2.68, for a total value of $40,200.00. Following the completion of the sale, the insider owned 183,170 shares of the company's stock, valued at approximately $490,895.60. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Cineverse Price Performance
Shares of CNVS stock opened at $2.53 on Friday. Cineverse Corp. has a fifty-two week low of $1.77 and a fifty-two week high of $5.43. The firm 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 debt-to-equity ratio of 0.34, a quick ratio of 0.75 and a current ratio of 0.75. The stock's 50-day simple moving average is $2.72 and its 200-day simple moving average is $2.59.
Cineverse (NASDAQ:CNVS - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.10). The company had revenue of $30.59 million for the quarter, compared to analyst estimates of $25.67 million. Cineverse had a negative net margin of 12.87% and a negative return on equity of 50.16%.
Hedge Funds Weigh In On Cineverse
Several hedge funds and other institutional investors have recently bought and sold shares of CNVS. Cubist Systematic Strategies LLC purchased a new position in Cineverse during the 1st quarter worth approximately $68,000. Goldman Sachs Group Inc. boosted its holdings in shares of Cineverse by 193.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 52,783 shares of the company's stock valued at $167,000 after acquiring an additional 34,783 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Cineverse by 1,575.1% in the 1st quarter. Acadian Asset Management LLC now owns 122,598 shares of the company's stock valued at $386,000 after acquiring an additional 115,279 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Cineverse by 551.1% in the second quarter. Marshall Wace LLP now owns 102,237 shares of the company's stock worth $489,000 after acquiring an additional 86,534 shares during the period. Finally, Corient Private Wealth LLC acquired a new stake in shares of Cineverse in the second quarter worth $2,277,000. Institutional investors and hedge funds own 8.19% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of Cineverse from a "sell (d-)" rating to a "sell (d)" rating in a report on Wednesday, July 8th. Benchmark reissued a "buy" rating and issued a $14.00 target price (up from $12.00) on shares of Cineverse in a research report on Friday, August 14th. Alliance Global Partners reissued a "buy" rating on shares of Cineverse in a research report on Friday, June 26th. Finally, Wall Street Zen upgraded Cineverse from a "strong sell" rating to a "hold" rating in a research note on Saturday, June 27th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $11.50.
View Our Latest Analysis on Cineverse
Cineverse Company Profile
(
Get Free Report)
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.
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