Cinedigm Corp (NASDAQ:CIDM) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Brokers have set a 1 year consensus target price of $2.78 for the company, according to Zacks. Zacks has also assigned Cinedigm an industry rank of 168 out of 256 based on the ratings given to its competitors.
Several research analysts have recently commented on the stock. Canaccord Genuity set a $3.00 price objective on shares of Cinedigm and gave the company a “buy” rating in a research note on Friday, July 19th. ValuEngine raised shares of Cinedigm from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Cinedigm by 37.1% in the second quarter. Vanguard Group Inc. now owns 165,828 shares of the business services provider’s stock valued at $224,000 after buying an additional 44,902 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Cinedigm by 8.9% in the second quarter. Renaissance Technologies LLC now owns 1,021,527 shares of the business services provider’s stock valued at $1,379,000 after buying an additional 83,881 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Cinedigm by 23.9% in the second quarter. Acadian Asset Management LLC now owns 52,558 shares of the business services provider’s stock valued at $70,000 after buying an additional 10,145 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Cinedigm in the first quarter valued at about $88,000. 7.59% of the stock is owned by institutional investors and hedge funds.
Cinedigm Company Profile
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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