Cinedigm (NASDAQ:CIDM) Lifted to “Sell” at upgraded shares of Cinedigm (NASDAQ:CIDMGet Rating) to a sell rating in a report published on Tuesday.

Cinedigm Stock Performance

Shares of NASDAQ:CIDM opened at $0.45 on Tuesday. The firm has a market cap of $80.79 million, a PE ratio of -5.68 and a beta of 1.91. The firm’s fifty day moving average is $0.49 and its 200-day moving average is $0.56. Cinedigm has a 52 week low of $0.39 and a 52 week high of $1.65.

Hedge Funds Weigh In On Cinedigm

Hedge funds have recently modified their holdings of the business. Citadel Advisors LLC bought a new position in Cinedigm during the third quarter worth $29,000. Virtu Financial LLC bought a new position in Cinedigm during the second quarter worth $42,000. XTX Topco Ltd raised its stake 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 buying an additional 66,536 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in Cinedigm during the first quarter worth $108,000. Finally, Jane Street Group LLC bought a new stake in Cinedigm in the second quarter valued at $159,000. Institutional investors and hedge funds own 9.44% of the company’s stock.

Cinedigm Company Profile

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Cinedigm Corp., together with its subsidiaries, operates as distributor and aggregator of independent movie, television, and other short form content in the United States. The company operates through two segments, Cinema Equipment Business and Content and Entertainment Business. The company distributes its products for various brands, such as Hallmark, Televisa, ITV, Nelvana, ZDF, Konami, NFL, and NHL, as well as international and domestic content creators, movie producers, television producers, and other short form digital content producers.

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