Mary Ann Halford Sells 20,000 Shares of Cineverse Corp. (NASDAQ:CNVS) Stock

Cineverse Corp. (NASDAQ:CNVS) Director Mary Ann Halford sold 20,000 shares of Cineverse stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $3.96, for a total value of $79,200.00. Following the transaction, the director now owns 245,548 shares of the company’s stock, valued at $972,370.08. This represents a 7.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Cineverse Price Performance

Shares of Cineverse stock opened at $3.70 on Friday. The business has a 50 day moving average price of $3.86 and a 200 day moving average price of $2.67. The company has a market capitalization of $59.13 million, a P/E ratio of -3.52 and a beta of 1.63. Cineverse Corp. has a 1 year low of $0.71 and a 1 year high of $4.89.

Cineverse (NASDAQ:CNVS) last issued 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%.

Wall Street Analyst Weigh In

Separately, Benchmark lifted their price objective on Cineverse from $9.00 to $10.00 and gave the stock a “speculative buy” rating in a research report on Friday, November 15th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC acquired a new position in Cineverse in the 4th quarter valued at $56,000. Dimensional Fund Advisors LP acquired a new position in Cineverse in the 4th quarter valued at $66,000. Northern Trust Corp raised its holdings in Cineverse by 62.4% in the 4th quarter. Northern Trust Corp now owns 21,178 shares of the company’s stock valued at $77,000 after acquiring an additional 8,139 shares during the last quarter. Jane Street Group LLC acquired a new position in Cineverse in the 4th quarter valued at $79,000. Finally, Citadel Advisors LLC increased its holdings in shares of Cineverse by 16.7% during the 4th quarter. Citadel Advisors LLC now owns 27,104 shares of the company’s stock worth $99,000 after buying an additional 3,887 shares during the last quarter. 8.19% of the stock is currently owned by institutional investors and hedge funds.

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.