An issue of Cenveo, Inc. (NYSE:CVO) debt fell 2% as a percentage of its face value during trading on Wednesday. The high-yield issue of debt has a 8.5% coupon and will mature on September 15, 2022. The debt is now trading at $37.00. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
Shares of Cenveo, Inc. (NYSE:CVO) opened at 2.355 on Friday. Cenveo, Inc. has a 52 week low of $2.35 and a 52 week high of $8.50. The stock has a 50 day moving average of $3.56 and a 200-day moving average of $4.76. The firm’s market cap is $20.21 million.
In related news, Chairman Robert G. Sr Burton, Sr. bought 53,855 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was bought at an average cost of $3.70 per share, with a total value of $199,263.50. Following the completion of the purchase, the chairman now owns 834,597 shares in the company, valued at approximately $3,088,008.90. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Robert G. Sr Burton, Sr. bought 24,390 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was bought at an average cost of $4.10 per share, with a total value of $99,999.00. The disclosure for this purchase can be found here. Insiders acquired a total of 90,695 shares of company stock worth $349,165 over the last 90 days. Company insiders own 12.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of CVO. Benjamin F. Edwards & Company Inc. raised its stake in shares of Cenveo by 29.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 43,633 shares of the business services provider’s stock worth $266,000 after buying an additional 10,000 shares during the last quarter. Algert Global LLC raised its stake in shares of Cenveo by 3.7% during the second quarter. Algert Global LLC now owns 79,791 shares of the business services provider’s stock worth $486,000 after buying an additional 2,879 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Cenveo by 2.3% during the second quarter. Northern Trust Corp now owns 19,139 shares of the business services provider’s stock worth $117,000 after buying an additional 436 shares during the last quarter. 46.37% of the stock is owned by institutional investors and hedge funds.
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Cenveo Company Profile
Cenveo, Inc is a diversified manufacturing company focused on print-related products. The Company’s portfolio of products includes envelope converting, commercial printing and label manufacturing. The Company operates through three segments: Envelope, Print and Label. The Company’s Envelope segment offers direct mail products used for customer solicitations and transactional envelopes used for billing and remittance by end users, including financial institutions, insurance companies and telecommunications companies.
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