Short Interest in Cineverse Corp. (NASDAQ:CNVS) Declines By 18.0%

Cineverse Corp. (NASDAQ:CNVS) was the recipient of a large decrease in short interest in 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. Approximately 2.7% of the company’s stock are sold short. Based on an average daily trading volume, of 174,100 shares, the days-to-cover ratio is presently 2.1 days.

Cineverse Price Performance

Shares of CNVS stock opened at $3.53 on Thursday. The firm has a market cap of $56.41 million, a P/E ratio of -3.36 and a beta of 1.61. Cineverse has a fifty-two week low of $0.72 and a fifty-two week high of $4.89. The stock’s 50-day moving average is $3.81 and its two-hundred day moving average is $2.94.

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

Insider Buying and Selling at Cineverse

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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Cineverse

Several hedge funds have recently bought and sold shares of the business. Corsair Capital Management L.P. raised its stake in shares of Cineverse by 86.6% in the 3rd quarter. Corsair Capital Management L.P. now owns 617,159 shares of the company’s stock valued at $604,000 after acquiring an additional 286,507 shares in the last quarter. Virtu Financial LLC acquired a new position in Cineverse during the third quarter valued at approximately $31,000. Geode Capital Management LLC raised its position in shares of Cineverse by 24.4% in the fourth quarter. Geode Capital Management LLC now owns 139,716 shares of the company’s stock valued at $510,000 after purchasing an additional 27,412 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Cineverse by 580.0% in the fourth quarter. Renaissance Technologies LLC now owns 148,247 shares of the company’s stock worth $541,000 after buying an additional 126,447 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Cineverse during the 4th quarter worth $66,000. 8.19% of the stock is 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.