Cineverse Corp. (NASDAQ:CNVS) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC grew its stake in shares of Cineverse Corp. (NASDAQ:CNVS) by 580.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,247 shares of the company’s stock after purchasing an additional 126,447 shares during the quarter. Renaissance Technologies LLC owned 0.93% of Cineverse worth $541,000 at the end of the most recent quarter.

Separately, Geode Capital Management LLC lifted its position in Cineverse by 24.4% during the 4th quarter. Geode Capital Management LLC now owns 139,716 shares of the company’s stock worth $510,000 after acquiring an additional 27,412 shares in the last quarter. Hedge funds and other institutional investors own 8.19% of the company’s stock.

Cineverse Stock Up 2.1 %

Shares of NASDAQ:CNVS opened at $2.93 on Friday. The company has a market capitalization of $46.82 million, a price-to-earnings ratio of -2.79 and a beta of 1.62. The company has a 50 day moving average of $3.17 and a two-hundred day moving average of $3.39. Cineverse Corp. has a 52-week low of $0.72 and a 52-week high of $4.89.

Cineverse (NASDAQ:CNVS) last released its quarterly earnings results 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

In related 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 sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 14.70% of the company’s stock.

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.