Insider Selling: Cineverse Corp. (NASDAQ:CNVS) Director Sells 20,000 Shares of Stock

Cineverse Corp. (NASDAQ:CNVS - Get Free Report) Director Mary Ann Halford sold 20,000 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $3.96, for a total value of $79,200.00. Following the completion of the transaction, the director now directly owns 245,548 shares of the company's stock, valued at $972,370.08. The trade was a 7.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Cineverse Stock Up 1.4 %

NASDAQ:CNVS traded up $0.05 during trading hours on Friday, reaching $3.70. 117,160 shares of the stock were exchanged, compared to its average volume of 182,381. The company has a market capitalization of $59.13 million, a price-to-earnings ratio of -3.52 and a beta of 1.63. Cineverse Corp. has a twelve month low of $0.71 and a twelve month high of $4.89. The business has a 50-day moving average of $3.86 and a two-hundred day moving average of $2.70.

Cineverse (NASDAQ:CNVS - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.34 earnings per share for the quarter. Cineverse had a positive return on equity of 7.33% and a negative net margin of 16.52%.

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Wall Street Analysts Forecast Growth

Separately, Benchmark upped their price target on Cineverse from $9.00 to $10.00 and gave the company a "speculative buy" rating in a research report on Friday, November 15th.

Hedge Funds Weigh In On Cineverse

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC purchased a new position in shares of Cineverse during the fourth quarter worth about $56,000. Dimensional Fund Advisors LP purchased a new position in shares of Cineverse during the fourth quarter worth about $66,000. Northern Trust Corp grew its holdings in shares of Cineverse by 62.4% during the fourth quarter. Northern Trust Corp now owns 21,178 shares of the company's stock worth $77,000 after purchasing an additional 8,139 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Cineverse during the fourth quarter worth about $79,000. Finally, Citadel Advisors LLC grew its holdings in shares of Cineverse by 16.7% during the fourth quarter. Citadel Advisors LLC now owns 27,104 shares of the company's stock worth $99,000 after purchasing an additional 3,887 shares during the last quarter. 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.