StockNews.com assumed coverage on shares of Cinedigm (NASDAQ:CIDM – Get Free Report) 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 Up 3.3 %
Shares of Cinedigm stock opened at $1.27 on Tuesday. The firm has a market capitalization of $237.38 million, a P/E ratio of -25.40 and a beta of 2.05. The business’s fifty day simple moving average is $1.76 and its 200 day simple moving average is $0.90. Cinedigm has a 12 month low of $0.27 and a 12 month high of $0.79.
Hedge Funds Weigh In On Cinedigm
Several institutional investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Cinedigm in the 1st quarter valued at approximately $27,000. Citadel Advisors LLC purchased a new position in Cinedigm during the third quarter valued at $29,000. Boothbay Fund Management LLC purchased a new position in shares of Cinedigm in the fourth quarter valued at about $43,000. XTX Topco Ltd lifted its position in shares of Cinedigm by 412.4% in the first quarter. XTX Topco Ltd now owns 82,671 shares of the business services provider’s stock valued at $67,000 after acquiring an additional 66,536 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Cinedigm in the first quarter valued at about $108,000. 8.03% of the stock is currently 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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