Research analysts at StockNews.com began coverage on shares of Cinedigm (NASDAQ:CIDM – Get Rating) in a research report issued on Sunday. The brokerage set a “hold” rating on the business services provider’s stock.
Separately, Benchmark reiterated a “speculative buy” rating and issued a $5.00 price target on shares of Cinedigm in a research note on Wednesday, February 15th.
Cinedigm Stock Performance
NASDAQ:CIDM opened at $0.42 on Friday. The stock has a 50-day simple moving average of $0.50 and a 200 day simple moving average of $0.48. Cinedigm has a 52-week low of $0.37 and a 52-week high of $0.83. The company has a market cap of $74.48 million, a PE ratio of -8.32 and a beta of 2.05.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Cinedigm by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 6,665,172 shares of the business services provider’s stock valued at $5,423,000 after purchasing an additional 143,743 shares during the last quarter. State Street Corp raised its stake in Cinedigm by 5.0% in the first quarter. State Street Corp now owns 485,901 shares of the business services provider’s stock valued at $395,000 after buying an additional 23,262 shares during the period. Jane Street Group LLC acquired a new stake in shares of Cinedigm in the second quarter valued at approximately $159,000. Atria Wealth Solutions Inc. bought a new position in shares of Cinedigm during the 1st quarter worth approximately $108,000. Finally, XTX Topco Ltd boosted its stake in shares of Cinedigm by 412.4% during 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 period. Institutional investors and hedge funds own 8.03% of the company’s stock.
Cinedigm Company Profile
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.
See Also
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