Cineverse (NASDAQ:CNVS) Receives Sell (D+) Rating from Weiss Ratings

Key Points

• Cineverse (NASDAQ:CNVS) has received a "sell (D+)" rating from Weiss Ratings, indicating concerns about its stock performance.
• The company reported a quarterly earnings loss of ($0.21) EPS, missing analysts' estimates, despite having revenue of $12.74 million for the quarter.
• Institutional investors have shown significant interest, with several hedge funds increasing their stakes in Cineverse during the second quarter.

Cineverse (NASDAQ:CNVS - Get Free Report)'s stock had its "sell (d+)" rating restated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen lowered shares of Cineverse from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Cineverse currently has an average rating of "Hold" and an average target price of $7.25.

Cineverse Price Performance

CNVS traded down $0.05 during mid-day trading on Wednesday, hitting $3.31. The stock had a trading volume of 113,381 shares, compared to its average volume of 163,428. The stock's fifty day simple moving average is $4.28 and its 200-day simple moving average is $4.07. The firm has a market capitalization of $63.15 million, a price-to-earnings ratio of 41.38 and a beta of 1.50. Cineverse has a 1-year low of $1.26 and a 1-year high of $7.39.

Cineverse (NASDAQ:CNVS - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.21) 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 for the quarter, compared to analyst estimates of $10.18 million.

Institutional Investors Weigh In On Cineverse

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC acquired a new stake in Cineverse in the 2nd quarter valued at $2,276,000. Osaic Holdings Inc. increased its stake in Cineverse by 61.3% in the 2nd quarter. Osaic Holdings Inc. now owns 22,902 shares of the company's stock valued at $109,000 after buying an additional 8,700 shares during the last quarter. Marshall Wace LLP increased its stake in Cineverse by 551.1% in the 2nd quarter. Marshall Wace LLP now owns 102,237 shares of the company's stock valued at $489,000 after buying an additional 86,534 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Cineverse in the 2nd quarter valued at about $48,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Cineverse in the 2nd quarter valued at about $78,000. 8.19% of the stock is currently owned by institutional investors and hedge funds.

Cineverse Company 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.

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