ValuEngine Lowers Cinedigm (NASDAQ:CIDM) to Hold

ValuEngine cut shares of Cinedigm (NASDAQ:CIDM) from a buy rating to a hold rating in a research note released on Tuesday morning, ValuEngine reports.

Separately, Canaccord Genuity set a $3.00 price target on shares of Cinedigm and gave the stock a buy rating in a report on Wednesday, April 10th.

NASDAQ:CIDM opened at $1.40 on Tuesday. The firm has a market capitalization of $49.24 million, a price-to-earnings ratio of -1.73 and a beta of 1.73. Cinedigm has a 12 month low of $0.48 and a 12 month high of $2.06.

A hedge fund recently raised its stake in Cinedigm stock. Renaissance Technologies LLC boosted its stake in Cinedigm Corp (NASDAQ:CIDM) by 9.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 937,646 shares of the business services provider’s stock after purchasing an additional 83,816 shares during the quarter. Renaissance Technologies LLC owned about 2.63% of Cinedigm worth $1,782,000 as of its most recent SEC filing. 7.65% of the stock is owned by hedge funds and other institutional investors.

About Cinedigm

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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