The Arena Group Holdings, Inc. (NYSE:AREN – Get Rating) – Equities research analysts at B. Riley lowered their FY2022 EPS estimates for The Arena Group in a report released on Wednesday, December 14th. B. Riley analyst D. Day now expects that the company will post earnings of ($4.14) per share for the year, down from their prior forecast of ($3.99). The consensus estimate for The Arena Group's current full-year earnings is ($3.99) per share. B. Riley also issued estimates for The Arena Group's Q4 2022 earnings at ($0.89) EPS, FY2023 earnings at ($2.19) EPS, FY2024 earnings at ($0.90) EPS and FY2025 earnings at $0.29 EPS.
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The Arena Group (NYSE:AREN – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The company reported ($0.90) EPS for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.03). The firm had revenue of $66.71 million for the quarter, compared to analysts' expectations of $65.78 million.
The Arena Group Price Performance
NYSE:AREN opened at $12.63 on Friday. The Arena Group has a 1-year low of $7.50 and a 1-year high of $16.50. The company has a 50-day moving average of $13.55 and a 200 day moving average of $12.04. The firm has a market cap of $230.43 million, a PE ratio of -2.58 and a beta of 0.34.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of AREN. American International Group Inc. purchased a new position in shares of The Arena Group in the 2nd quarter worth approximately $48,000. JPMorgan Chase & Co. purchased a new position in shares of The Arena Group in the 2nd quarter valued at approximately $55,000. Allspring Global Investments Holdings LLC purchased a new position in shares of The Arena Group in the 3rd quarter valued at approximately $93,000. Rhumbline Advisers purchased a new position in shares of The Arena Group in the 2nd quarter valued at approximately $120,000. Finally, Northern Trust Corp purchased a new position in shares of The Arena Group in the 1st quarter valued at approximately $124,000. Hedge funds and other institutional investors own 55.08% of the company's stock.
The Arena Group Company Profile
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The Arena Group Holdings, Inc, together with its subsidiaries, operates digital media platform the United States and internationally. The company offers the Platform, a proprietary online publishing platform comprising publishing tools, video platforms, social distribution channels, newsletter technology, machine learning content recommendations, notifications, and other technology.
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