The Arena Group (NYSE:AREN – Get Rating) had its price objective boosted by B. Riley from $18.00 to $19.00 in a research note published on Wednesday morning, The Fly reports. B. Riley also issued estimates for The Arena Group's Q4 2022 earnings at ($0.89) EPS, FY2022 earnings at ($4.14) EPS, FY2023 earnings at ($2.19) EPS, FY2024 earnings at ($0.90) EPS and FY2025 earnings at $0.29 EPS.
The Arena Group Price Performance
NYSE:AREN opened at $12.63 on Wednesday. The business has a 50 day simple moving average of $13.55 and a 200 day simple moving average of $12.04. The firm has a market capitalization of $230.43 million, a P/E ratio of -2.58 and a beta of 0.34. The Arena Group has a 12-month low of $7.50 and a 12-month high of $16.50.
Get The Arena Group alerts:The Arena Group (NYSE:AREN – Get Rating) last announced its earnings results on Wednesday, November 9th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The business had revenue of $66.71 million during the quarter, compared to analysts' expectations of $65.78 million. Research analysts anticipate that The Arena Group will post -3.99 EPS for the current fiscal year.
Institutional Trading of The Arena Group
Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new stake in The Arena Group during the 3rd quarter valued at $464,000. State Street Corp lifted its holdings in shares of The Arena Group by 41.2% in the third quarter. State Street Corp now owns 205,682 shares of the company's stock valued at $2,694,000 after buying an additional 60,002 shares during the period. Vanguard Group Inc. boosted its stake in The Arena Group by 186.8% during the third quarter. Vanguard Group Inc. now owns 580,486 shares of the company's stock valued at $7,604,000 after buying an additional 378,104 shares in the last quarter. Pathstone Family Office LLC bought a new position in The Arena Group during the third quarter valued at about $201,000. Finally, BlackRock Inc. boosted its stake in The Arena Group by 10.9% during the third quarter. BlackRock Inc. now owns 549,137 shares of the company's stock valued at $7,194,000 after buying an additional 53,900 shares in the last quarter. Institutional investors own 55.08% of the company's stock.About The Arena Group
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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.
Further Reading
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