Equities researchers at StockNews.com began coverage on shares of Cinedigm (NASDAQ:CIDM – Get Rating) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the business services provider’s stock.
Cinedigm Trading Down 5.6 %
Shares of CIDM opened at $2.38 on Tuesday. The company has a market cap of $444.86 million, a price-to-earnings ratio of -47.60 and a beta of 2.05. Cinedigm has a 1-year low of $0.27 and a 1-year high of $0.79. The company’s fifty day simple moving average is $0.67 and its 200 day simple moving average is $0.55.
Hedge Funds Weigh In On Cinedigm
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CIDM. Virtu Financial LLC bought a new position in Cinedigm during the first quarter worth $27,000. Citadel Advisors LLC bought a new position in Cinedigm during the third quarter worth $29,000. Boothbay Fund Management LLC bought a new position in Cinedigm during the fourth quarter worth $43,000. XTX Topco Ltd boosted its position in Cinedigm by 412.4% during the first quarter. XTX Topco Ltd now owns 82,671 shares of the business services provider’s stock worth $67,000 after purchasing an additional 66,536 shares during the period. Finally, Atria Wealth Solutions Inc. bought a new position in Cinedigm during the first quarter worth $108,000. 8.03% of the stock is owned by institutional investors.
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.
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