Shares of Cinedigm Corp (NASDAQ:CIDM) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 12 month consensus price target of $2.83 for the company, according to Zacks. Zacks has also assigned Cinedigm an industry rank of 198 out of 255 based on the ratings given to related companies.
A number of brokerages have commented on CIDM. Canaccord Genuity set a $3.00 price target on shares of Cinedigm and gave the company a “buy” rating in a research note on Friday, July 19th. ValuEngine lowered shares of Cinedigm from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.
Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC increased its stake in Cinedigm by 23.9% during the 2nd quarter. Acadian Asset Management LLC now owns 52,558 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 10,145 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Cinedigm by 37.1% in the 2nd quarter. Vanguard Group Inc. now owns 165,828 shares of the business services provider’s stock worth $224,000 after acquiring an additional 44,902 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Cinedigm by 8.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,021,527 shares of the business services provider’s stock worth $1,379,000 after acquiring an additional 83,881 shares in the last quarter. Institutional investors and hedge funds own 7.14% of the company’s stock.
Shares of Cinedigm stock traded down $0.03 during trading on Thursday, reaching $0.91. 100 shares of the company traded hands, compared to its average volume of 31,367. Cinedigm has a 1-year low of $0.48 and a 1-year high of $2.06. The company has a 50 day moving average price of $0.93 and a 200-day moving average price of $1.31. The firm has a market capitalization of $37.51 million, a PE ratio of -2.07 and a beta of 1.44.
Cinedigm (NASDAQ:CIDM) last announced its quarterly earnings results on Wednesday, August 14th. The business services provider reported ($0.13) EPS for the quarter. The business had revenue of $9.80 million for the quarter. As a group, equities research analysts forecast that Cinedigm will post -0.49 earnings per share for the current year.
Cinedigm Company Profile
Cinedigm Corp., together with its subsidiaries, operates as distributor and aggregator of independent movie, television, and other short form content primarily in the United States. The company operates through four segments: The First Digital Cinema Deployment, The Second Digital Cinema Deployment, Digital Cinema Services, and Media Content and Entertainment Group.
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