Microvast Holdings announces departure of chief financial officer
Mary Ann Halford, a director at Cineverse Corp. (NASDAQ:CNVS), recently sold 20,000 shares of the company’s Class A common stock. The shares were sold at a weighted average price of $3.96, generating a total of $79,200. The transaction took place on February 24, 2025, amid a significant stock decline of -19% over the past week, though the company has shown remarkable strength with a 349% gain over the past six months. According to InvestingPro analysis, Cineverse appears undervalued at current levels, with strong liquidity metrics showing cash exceeding debt levels. The transaction was disclosed in a regulatory filing with the Securities and Exchange Commission.
Following the sale, Halford retains ownership of 245,548 shares in Cineverse. The sale was reportedly made to cover tax obligations related to the vesting of issuer securities. The shares were sold in multiple transactions at prices ranging from $3.82 to $4.13. InvestingPro subscribers can access 8 additional key insights about CNVS, including detailed financial health metrics and growth projections, through the comprehensive Pro Research Report available for this and 1,400+ other US stocks.
In other recent news, Cineverse reported strong financial results for its third fiscal quarter of 2025, surpassing analyst expectations with impressive revenue figures. The company’s revenue exceeded projections by nearly $2 million, driven by the success of "Terrifier 3" and a strong box office performance, which positively impacted EBITDA. Analyst Daniel L. Kurnos from Benchmark maintained a Speculative Buy rating on Cineverse with a $10.00 price target, citing the company’s strategic plans to expand its film distribution and introduce a new advertising revenue stream. Meanwhile, Syniverse reported a significant revenue surge in Q3 2023, reaching $40.7 million, marking a 207% increase from the previous year. The company also achieved a net income of $7.2 million, reversing a previous loss, and aims to double its streaming subscriber growth rate. Syniverse is expanding its AI content licensing and training rights, with a strategic focus on proven intellectual property and low-cost marketing to continue driving growth. Both companies have positioned themselves for future expansion through strategic initiatives and partnerships.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.