The Arena Group Holdings, Inc. (NYSE:AREN – Get Rating) traded up 2.6% during trading on Monday . The stock traded as high as $8.40 and last traded at $8.38. 1,791 shares traded hands during trading, a decline of 96% from the average session volume of 41,956 shares. The stock had previously closed at $8.17.
Analyst Ratings Changes
Separately, B. Riley boosted their price objective on The Arena Group from $18.00 to $19.00 in a report on Wednesday, December 14th.
Get The Arena Group alerts:The Arena Group Price Performance
The company has a market cap of $152.89 million, a PE ratio of -1.71 and a beta of 0.42. The company has a fifty day moving average price of $11.85 and a 200 day moving average price of $11.73.
The Arena Group (NYSE:AREN – Get Rating) last issued its earnings results on Wednesday, November 9th. The company reported ($0.90) earnings per share (EPS) 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 analyst estimates of $65.78 million. As a group, sell-side analysts predict that The Arena Group Holdings, Inc. will post -4.14 EPS for the current fiscal year.Institutional Trading of The Arena Group
Several hedge funds and other institutional investors have recently bought and sold shares of AREN. Vanguard Group Inc. boosted its stake in The Arena Group by 186.8% in the third quarter. Vanguard Group Inc. now owns 580,486 shares of the company's stock worth $7,604,000 after buying an additional 378,104 shares in the last quarter. B. Riley Asset Management LLC boosted its stake in The Arena Group by 30.7% in the second quarter. B. Riley Asset Management LLC now owns 1,427,302 shares of the company's stock worth $12,846,000 after buying an additional 335,002 shares in the last quarter. State Street Corp purchased a new stake in The Arena Group in the second quarter worth approximately $1,311,000. B. Riley Financial Inc. boosted its stake in The Arena Group by 2.0% in the third quarter. B. Riley Financial Inc. now owns 4,684,442 shares of the company's stock worth $61,366,000 after buying an additional 91,649 shares in the last quarter. Finally, Northern Trust Corp lifted its position in The Arena Group by 726.6% in the second quarter. Northern Trust Corp now owns 94,419 shares of the company's stock valued at $850,000 after purchasing an additional 82,997 shares during the last quarter. Hedge funds and other institutional investors own 50.40% 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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