Corsair Capital Management L.P. Increases Position in Cineverse Corp. (NASDAQ:CNVS)

Corsair Capital Management L.P. boosted its stake in Cineverse Corp. (NASDAQ:CNVS - Free Report) by 86.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 617,159 shares of the company's stock after acquiring an additional 286,507 shares during the period. Corsair Capital Management L.P. owned 3.93% of Cineverse worth $604,000 as of its most recent filing with the SEC.

Cineverse Trading Down 4.7 %

CNVS traded down $0.18 during midday trading on Wednesday, hitting $3.62. 138,419 shares of the company were exchanged, compared to its average volume of 299,815. Cineverse Corp. has a 1-year low of $0.71 and a 1-year high of $4.19. The firm has a market capitalization of $57.45 million, a price-to-earnings ratio of -2.36 and a beta of 1.47. The company's 50 day simple moving average is $2.11 and its 200 day simple moving average is $1.30.

Analyst Upgrades and Downgrades

Several brokerages have commented on CNVS. Benchmark raised their price objective on Cineverse from $9.00 to $10.00 and gave the company a "speculative buy" rating in a research report on Friday, November 15th. Alliance Global Partners boosted their price objective on Cineverse from $4.00 to $4.50 and gave the company a "buy" rating in a research report on Tuesday, October 22nd.

Cineverse Profile

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.