Insider Buying: Cineverse (NASDAQ:CNVS) Insider Purchases $60,000.00 in Stock

Cineverse Corp. (NASDAQ:CNVS) insider Yolanda Macias purchased 30,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average cost of $2.00 per share, for a total transaction of $60,000.00. Following the completion of the acquisition, the insider owned 121,760 shares of the company’s stock, valued at approximately $243,520. This represents a 32.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Yolanda Macias also recently made the following trade(s):

• On Tuesday, December 2nd, Yolanda Macias sold 2,189 shares of Cineverse stock. The stock was sold at an average price of $2.42, for a total value of $5,297.38.

Cineverse Stock Performance

CNVS opened at $2.98 on Friday. The company’s 50-day simple moving average is $2.15 and its two-hundred day simple moving average is $3.05. Cineverse Corp. has a 52-week low of $1.77 and a 52-week high of $7.39. The stock has a market capitalization of $58.32 million, a P/E ratio of -5.62 and a beta of 1.66.

Cineverse (NASDAQ:CNVS) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Cineverse had a negative net margin of 16.67% and a negative return on equity of 27.40%. The company had revenue of $16.29 million for the quarter, compared to the consensus estimate of $20.00 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd grew its holdings in Cineverse by 57.4% during the 4th quarter. XTX Topco Ltd now owns 29,126 shares of the company’s stock valued at $61,000 after buying an additional 10,621 shares in the last quarter. StoneX Group Inc. bought a new stake in Cineverse in the 4th quarter worth approximately $30,000. Dimensional Fund Advisors LP raised its position in shares of Cineverse by 11.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 78,936 shares of the company’s stock valued at $166,000 after buying an additional 8,155 shares in the last quarter. T3 Companies LLC bought a new position in shares of Cineverse during the 4th quarter valued at approximately $273,000. Finally, Geode Capital Management LLC lifted its position in Cineverse by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 168,711 shares of the company’s stock worth $356,000 after buying an additional 6,952 shares during the last quarter. 8.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CNVS has been the topic of several research reports. Benchmark restated a “speculative buy” rating on shares of Cineverse in a research note on Monday, November 17th. Alliance Global Partners reaffirmed a “buy” rating on shares of Cineverse in a report on Wednesday. Wall Street Zen cut shares of Cineverse from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Cineverse in a research note on Monday, December 29th. Finally, UBS Group set a $9.00 price target on Cineverse in a research report on Friday, October 24th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.00.

Cineverse Company Profile

Cineverse (NASDAQ: CNVS), formerly known as Cinedigm, is a digital entertainment company that acquires, produces and distributes film and television content across a range of platforms. Through its streaming division, the company offers a portfolio of direct-to-consumer channels and apps—spanning genres such as horror, faith and family, documentaries and classic cinema—on both AVOD (ad-supported) and FAST (free ad-supported television) services. Cineverse also licenses its curated libraries to third-party streaming platforms, pay-TV operators and retail video-on-demand providers.

In addition to its consumer-facing streaming business, Cineverse operates a digital cinema network that supplies hardware, software and content delivery solutions to cinema exhibitors throughout North America.