Analysts at StockNews.com initiated coverage on shares of Cinedigm (NASDAQ:CIDM – Get Rating) in a research note issued to investors on Wednesday. The firm set a “sell” rating on the business services provider’s stock.
Cinedigm Stock Performance
Shares of CIDM opened at $0.57 on Wednesday. Cinedigm has a 12 month low of $0.37 and a 12 month high of $1.22. The stock has a fifty day moving average price of $0.46 and a 200-day moving average price of $0.51. The firm has a market cap of $101.44 million, a PE ratio of -7.13 and a beta of 1.86.
Cinedigm (NASDAQ:CIDM – Get Rating) last issued its quarterly earnings data on Monday, November 14th. The business services provider reported ($0.03) EPS for the quarter. Cinedigm had a negative net margin of 25.66% and a negative return on equity of 39.72%. The business had revenue of $14.01 million for the quarter.
Hedge Funds Weigh In On Cinedigm
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Cinedigm by 5.0% in the 1st quarter. State Street Corp now owns 485,901 shares of the business services provider’s stock worth $395,000 after acquiring an additional 23,262 shares during the last quarter. Virtu Financial LLC raised its stake in Cinedigm by 66.3% in the 3rd quarter. Virtu Financial LLC now owns 142,587 shares of the business services provider’s stock worth $56,000 after acquiring an additional 56,826 shares during the last quarter. XTX Topco Ltd raised its stake in Cinedigm by 412.4% in the 1st quarter. XTX Topco Ltd now owns 82,671 shares of the business services provider’s stock worth $67,000 after acquiring an additional 66,536 shares during the last quarter. Citadel Advisors LLC purchased a new position in Cinedigm in the 3rd quarter worth $29,000. Finally, Atria Wealth Solutions Inc. purchased a new position in Cinedigm in the 1st quarter worth $108,000. Hedge funds and other institutional investors own 8.03% of the company’s stock.
About Cinedigm
Cinedigm Corp. is an independent streaming entertainment company, which engages in the marketing and distribution of movies, television, and other short form content managing a library of distribution rights. It operates through the Cinema Equipment Business, and Content and Entertainment Business (CEG) segments.