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Cinedigm (NASDAQ:CIDM) Coverage Initiated by Analysts at StockNews.com

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Investment analysts at StockNews.com began coverage on shares of Cinedigm (NASDAQ:CIDMGet Rating) in a research report issued on Wednesday. The brokerage set a “hold” rating on the business services provider’s stock.

Cinedigm Stock Up 1.6 %

CIDM opened at $0.59 on Wednesday. The stock has a fifty day moving average of $0.60 and a 200-day moving average of $0.74. The firm has a market capitalization of $104.27 million, a P/E ratio of 59.06 and a beta of 1.75. Cinedigm has a 12-month low of $0.47 and a 12-month high of $2.95.

Cinedigm (NASDAQ:CIDMGet Rating) last posted its quarterly earnings results on Monday, June 27th. The business services provider reported ($0.01) earnings per share for the quarter. Cinedigm had a return on equity of 10.72% and a net margin of 2.95%. The company had revenue of $16.85 million during the quarter.

Hedge Funds Weigh In On Cinedigm

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A number of hedge funds have recently modified their holdings of CIDM. Bayesian Capital Management LP acquired a new position in Cinedigm during the fourth quarter worth $27,000. State Street Corp increased its position in Cinedigm by 5.0% during the first quarter. State Street Corp now owns 485,901 shares of the business services provider’s stock worth $395,000 after buying an additional 23,262 shares during the last quarter. Level Four Advisory Services LLC acquired a new position in Cinedigm during the fourth quarter worth $52,000. XTX Topco Ltd increased 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 buying an additional 66,536 shares during the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new position in Cinedigm during the first quarter worth $108,000. 18.39% of the stock is owned by institutional investors and hedge funds.

Cinedigm Company Profile

(Get Rating)

Cinedigm Corp., together with its subsidiaries, operates as distributor and aggregator of independent movie, television, and other short form content in the United States, Canada, and New Zealand. The company operates through two segments, Cinema Equipment Business and Media Content and Entertainment Business.

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