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7,141 Shares in The Arena Group Holdings, Inc. (NYSE:AREN) Purchased by Allspring Global Investments Holdings LLC

Defense World ·  Jan 30, 2023 04:31

Allspring Global Investments Holdings LLC acquired a new position in The Arena Group Holdings, Inc. (NYSE:AREN – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,141 shares of the company's stock, valued at approximately $93,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AREN. B. Riley Asset Management LLC grew its stake in The Arena Group by 30.7% in the 2nd quarter. B. Riley Asset Management LLC now owns 1,427,302 shares of the company's stock worth $12,846,000 after acquiring an additional 335,002 shares in the last quarter. Vanguard Group Inc. bought a new position in The Arena Group in the 1st quarter worth about $1,612,000. State Street Corp bought a new position in The Arena Group in the 2nd quarter worth about $1,311,000. Northern Trust Corp grew its stake in The Arena Group by 726.6% in the 2nd quarter. Northern Trust Corp now owns 94,419 shares of the company's stock worth $850,000 after acquiring an additional 82,997 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in The Arena Group in the 1st quarter worth about $365,000. 50.40% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Separately, B. Riley upped their target price on shares of The Arena Group from $18.00 to $19.00 in a research note on Wednesday, December 14th.

The Arena Group Stock Down 0.6 %

Shares of AREN stock opened at $9.29 on Monday. The firm has a market cap of $170.01 million, a price-to-earnings ratio of -1.90 and a beta of 0.42. The company's 50 day moving average is $10.94 and its 200 day moving average is $11.64. The Arena Group Holdings, Inc. has a 52-week low of $7.43 and a 52-week high of $16.50.

The Arena Group (NYSE:AREN – Get Rating) last issued its quarterly earnings data 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 company had revenue of $66.71 million for the quarter, compared to the consensus estimate of $65.78 million. Analysts anticipate that The Arena Group Holdings, Inc. will post -4.14 EPS for the current fiscal year.

About The Arena Group

(Get Rating)

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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