Wall Street Zen Downgrades Cineverse (NASDAQ:CNVS) to Buy

Key Points

• Wall Street Zen has downgraded Cineverse (NASDAQ: CNVS) from a "strong-buy" rating to a "buy" rating, indicating a shift in investor sentiment.
• Cineverse reported earnings of $0.04 per share for the last quarter, exceeding analyst expectations of ($0.07) by $0.11, alongside a revenue of $15.57 million.
• Institutional investors have begun acquiring stakes in Cineverse, with notable purchases, suggesting growing interest in the company among hedge funds.

Cineverse (NASDAQ:CNVS - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

Cineverse Stock Performance

Shares of NASDAQ:CNVS opened at $5.16 on Friday. Cineverse has a twelve month low of $0.71 and a twelve month high of $7.39. The firm has a market cap of $88.29 million, a PE ratio of 57.34 and a beta of 1.47. The business has a fifty day moving average of $4.92 and a 200-day moving average of $3.94.

Cineverse (NASDAQ:CNVS - Get Free Report) last announced its earnings results on Friday, June 27th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.11. Cineverse had a return on equity of 12.19% and a net margin of 4.61%. The company had revenue of $15.57 million during the quarter, compared to analyst estimates of $14.29 million.

Institutional Trading of Cineverse

Hedge funds and other institutional investors have recently made changes to their positions in the business. Naviter Wealth LLC acquired a new stake in shares of Cineverse in the first quarter valued at $33,000. Jump Financial LLC acquired a new stake in Cineverse in the first quarter worth about $37,000. Millennium Management LLC acquired a new stake in Cineverse in the fourth quarter worth about $56,000. Dimensional Fund Advisors LP acquired a new stake in Cineverse in the fourth quarter worth about $66,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Cineverse in the first quarter worth about $68,000. 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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