Cubist Systematic Strategies LLC Purchases Shares of 293,244 Cinedigm Corp. (NASDAQ:CIDM)

Cubist Systematic Strategies LLC purchased a new stake in shares of Cinedigm Corp. (NASDAQ:CIDM) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 293,244 shares of the business services provider’s stock, valued at approximately $378,000.

Several other institutional investors and hedge funds also recently modified their holdings of CIDM. Geode Capital Management LLC boosted its stake in shares of Cinedigm by 219.9% in the first quarter. Geode Capital Management LLC now owns 681,012 shares of the business services provider’s stock worth $1,137,000 after buying an additional 468,153 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Cinedigm by 7.3% in the second quarter. Vanguard Group Inc. now owns 5,079,433 shares of the business services provider’s stock worth $6,553,000 after buying an additional 346,485 shares during the last quarter. State Street Corp purchased a new stake in shares of Cinedigm in the second quarter worth about $380,000. Qube Research & Technologies Ltd purchased a new stake in shares of Cinedigm in the second quarter worth about $128,000. Finally, Millennium Management LLC purchased a new stake in shares of Cinedigm in the first quarter worth about $163,000. Hedge funds and other institutional investors own 10.01% of the company’s stock.

Separately, Alliance Global Partners upped their target price on Cinedigm from $3.00 to $3.25 and gave the stock a “buy” rating in a research note on Monday, August 2nd.

NASDAQ CIDM opened at $1.62 on Thursday. The stock has a market capitalization of $283.29 million, a price-to-earnings ratio of -40.50 and a beta of 1.49. Cinedigm Corp. has a twelve month low of $0.50 and a twelve month high of $2.95. The stock has a 50-day moving average of $2.30 and a 200 day moving average of $1.80.

Cinedigm (NASDAQ:CIDM) last released its quarterly earnings results on Thursday, September 9th. The business services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. The company had revenue of $15.02 million during the quarter. Cinedigm had a negative return on equity of 61.99% and a negative net margin of 26.35%.

Cinedigm Company Profile

Cinedigm Corp. is an independent streaming entertainment company, which engages in the marketing and distribution of movie, television, and other short form content managing a library of distribution rights. It operates through the segments; Cinema Equipment Business, and Content and Entertainment Business (CEG).

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Institutional Ownership by Quarter for Cinedigm (NASDAQ:CIDM)

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