Cineverse (NASDAQ:CNVS) Cut to Buy at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Cineverse (NASDAQ:CNVS – Free Report) from a strong-buy rating to a buy rating in a research note published on Sunday.

Cineverse Stock Performance

CNVS opened at $5.42 on Friday. Cineverse has a fifty-two week low of $0.71 and a fifty-two week high of $7.39. The company has a fifty day moving average of $5.00 and a two-hundred day moving average of $3.96. The stock has a market capitalization of $92.74 million, a price-to-earnings ratio of 60.23 and a beta of 1.47.

Cineverse (NASDAQ:CNVS – Get Free Report) last released its quarterly earnings data on Friday, June 27th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.11. Cineverse had a net margin of 4.61% and a return on equity of 12.19%. The company had revenue of $15.57 million during the quarter, compared to analysts’ expectations of $14.29 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake 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 worth $510,000 after purchasing an additional 27,412 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Cineverse by 580.0% during the fourth quarter. Renaissance Technologies LLC now owns 148,247 shares of the company’s stock worth $541,000 after purchasing an additional 126,447 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Cineverse during the fourth quarter worth about $66,000. Northern Trust Corp increased its stake 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 in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Cineverse during the fourth quarter worth about $79,000. Hedge funds and other institutional investors own 8.19% of the company’s stock.

Cineverse Company Profile

(Get Free Report)

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.

Featured Articles