A look into Cinedigm Corp. (CIDM)’s deeper side

Cinedigm Corp. (NASDAQ: CIDM) stock jumped 0.94% on Friday to $0.60 against a previous-day closing price of $0.60. With 1.21 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.26 million shares. During the session, the Entertainment company that operates in wider Communication Services sector, reached to the highest price of $0.6200 whereas the lowest price it dropped to was $0.5886. The 52-week range on CIDM shows that it touched its highest point at $2.95 and its lowest point at $0.47 during that stretch. It currently has a 1-year price target of $4.00. Beta for the stock currently stands at 1.77.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CIDM was up-trending over the past week, with a rise of 5.83%, but this was up by 17.84% over a month. Three-month performance dropped to -20.65% while six-month performance fell -31.42%. The stock lost -60.46% in the past year, while it has lost -48.19% so far this year. A look at the trailing 12-month EPS for CIDM yields 0.01 with Next year EPS estimates of -0.05. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 14.90%.

Float and Shares Shorts:

At present, 174.33 million CIDM shares are outstanding with a float of 153.69 million shares on hand for trading. On Jul 14, 2022, short shares totaled 5.49 million, which was 3.10% higher than short shares on Jun 14, 2022. In addition to Mr. Christopher J. McGurk as the firm’s Chairman & CEO, Mr. Gary S. Loffredo serves as its COO, Pres, Gen. Counsel & Sec.

Institutional Ownership:

Through their ownership of 11.33% of CIDM’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.35% of CIDM, in contrast to 5.09% held by mutual funds. Shares owned by individuals account for 20.28%. As the largest shareholder in CIDM with 3.78% of the stake, The Vanguard Group, Inc. holds 6,614,901 shares worth 6,614,901. A second-largest stockholder of CIDM, Renaissance Technologies LLC, holds 3,109,919 shares, controlling over 1.78% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in CIDM, holding 2,430,318 shares or 1.39% stake. With a 2.58% stake in CIDM, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 4,518,243 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.07% of CIDM stock, is the second-largest Mutual Fund holder. It holds 1,867,441 shares valued at 0.92 million. Fidelity Extended Market Index Fu holds 0.49% of the stake in CIDM, owning 854,607 shares worth 0.42 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CIDM since 2 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CIDM analysts setting a high price target of $5.00 and a low target of $3.00, the average target price over the next 12 months is $4.00. Based on these targets, CIDM could surge 733.33% to reach the target high and rise by 400.0% to reach the target low. Reaching the average price target will result in a growth of 566.67% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CIDM will report FY 2023 earnings on 06/26/2023. Analysts have provided yearly estimates in a range of -$0.09 being high and -$0.10 being low. For CIDM, this leads to a yearly average estimate of -$0.10. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cinedigm Corp. reported -$0.02 EPS against a consensus estimate of -$0.02. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.03 and the low estimate is -$0.04. The average estimate for the next quarter is thus -$0.04.

Summary of Insider Activity:

Insiders traded CIDM stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 5 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 243,675 while 0 shares were sold.

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