Christopher Petzel Sells 25,000 Shares of The Arena Group Holdings, Inc. (NYSE:AREN) Stock

The Arena Group Holdings, Inc. (NYSE:AREN) Director Christopher Petzel sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $1.23, for a total transaction of $30,750.00. Following the completion of the transaction, the director now directly owns 25,010 shares in the company, valued at $30,762.30. This represents a 49.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

The Arena Group Price Performance

Shares of AREN stock opened at $1.44 on Friday. The company has a market capitalization of $68.36 million, a P/E ratio of -0.34 and a beta of 0.48. The company’s 50-day simple moving average is $1.45 and its two-hundred day simple moving average is $1.04. The Arena Group Holdings, Inc. has a one year low of $0.56 and a one year high of $2.35.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in The Arena Group stock. 272 Capital LP purchased a new position in shares of The Arena Group Holdings, Inc. (NYSE:AREN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 308,274 shares of the company’s stock, valued at approximately $250,000. 272 Capital LP owned approximately 0.65% of The Arena Group at the end of the most recent quarter. Institutional investors own 85.55% of the company’s stock.

The Arena Group Company Profile

The Arena Group Holdings, Inc, together with its subsidiaries, operates digital media platform in 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.