Goldman Sachs Group Inc. Buys 34,783 Shares of Cineverse Corp. $CNVS

Goldman Sachs Group Inc. lifted its stake in shares of Cineverse Corp. (NASDAQ:CNVS) by 193.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,783 shares of the company’s stock after acquiring an additional 34,783 shares during the quarter. Goldman Sachs Group Inc. owned about 0.33% of Cineverse worth $167,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CNVS. Naviter Wealth LLC bought a new stake in shares of Cineverse during the 1st quarter worth about $33,000. Jump Financial LLC bought a new stake in Cineverse during the 1st quarter valued at approximately $37,000. Millennium Management LLC bought a new stake in Cineverse during the 4th quarter valued at approximately $56,000. Cubist Systematic Strategies LLC bought a new stake in Cineverse during the 1st quarter valued at approximately $68,000. Finally, Essex Investment Management Co. LLC bought a new stake in Cineverse during the 1st quarter valued at approximately $72,000. Institutional investors own 8.19% of the company’s stock.

Cineverse Trading Up 3.0%

Shares of CNVS opened at $3.46 on Tuesday. Cineverse Corp. has a 1 year low of $0.91 and a 1 year high of $7.39. The stock has a 50 day simple moving average of $4.61 and a 200-day simple moving average of $4.09. The stock has a market cap of $66.02 million, a PE ratio of 43.25 and a beta of 1.70.

Cineverse (NASDAQ:CNVS) last issued its earnings results on Thursday, August 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). Cineverse had a return on equity of 9.98% and a net margin of 3.89%.The company had revenue of $12.74 million during the quarter, compared to analyst estimates of $10.18 million.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Cineverse from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Cineverse has a consensus rating of “Buy” and an average target price of $7.25.

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.