Cineverse Corp. (NASDAQ:CNVS) Short Interest Update

Cineverse Corp. (NASDAQ:CNVS - Get Free Report) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 363,900 shares, a decrease of 18.0% from the February 13th total of 444,000 shares. Currently, 2.7% of the company's shares are short sold. Based on an average daily volume of 174,100 shares, the days-to-cover ratio is currently 2.1 days.

Insider Activity

In other news, Director Mary Ann Halford sold 20,000 shares of the company's stock in a transaction 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 sale, the director now directly owns 245,548 shares of the company's stock, 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 through the SEC website. Insiders own 14.70% of the company's stock.

Institutional Investors Weigh In On Cineverse

A number of large investors have recently bought and sold shares of CNVS. Corsair Capital Management L.P. grew its holdings in Cineverse by 86.6% in the third quarter. Corsair Capital Management L.P. now owns 617,159 shares of the company's stock worth $604,000 after purchasing an additional 286,507 shares during the period. Renaissance Technologies LLC grew its holdings in shares of 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 buying an additional 126,447 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Cineverse during the fourth quarter valued at about $131,000. Virtu Financial LLC acquired a new position in shares of Cineverse during the third quarter valued at about $31,000. Finally, Geode Capital Management LLC grew its holdings in shares of Cineverse by 24.4% during the fourth quarter. Geode Capital Management LLC now owns 139,716 shares of the company's stock valued at $510,000 after buying an additional 27,412 shares during the last quarter. 8.19% of the stock is currently owned by institutional investors and hedge funds.

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Cineverse Trading Up 3.2 %

NASDAQ CNVS traded up $0.11 on Friday, hitting $3.54. 23,864 shares of the company were exchanged, compared to its average volume of 165,365. The company has a market cap of $56.57 million, a PE ratio of -3.37 and a beta of 1.61. The stock has a fifty day moving average of $3.80 and a 200-day moving average of $2.96. Cineverse has a 12 month low of $0.72 and a 12 month high of $4.89.

Cineverse (NASDAQ:CNVS - Get Free Report) last posted 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%.

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.