The Arena Group Holdings, Inc. (NYSE:AREN – Get Free Report) rose 8.4% on Wednesday . The stock traded as high as $1.19 and last traded at $1.16. 85,401 shares changed hands during trading, a decline of 9% from the average session volume of 93,858 shares. The stock had previously closed at $1.07.
The Arena Group Stock Up 2.6%
The business has a 50-day simple moving average of $1.13 and a two-hundred day simple moving average of $2.21. The company has a market cap of $57.12 million, a price-to-earnings ratio of -0.28 and a beta of 0.97.
Institutional Investors Weigh In On The Arena Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in AREN. BNP Paribas Financial Markets raised its holdings in The Arena Group by 158.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,366 shares of the company’s stock worth $29,000 after acquiring an additional 3,290 shares during the period. Russell Investments Group Ltd. bought a new stake in The Arena Group during the third quarter valued at about $30,000. State Street Corp boosted its holdings in The Arena Group by 2.0% during the fourth quarter. State Street Corp now owns 288,125 shares of the company’s stock valued at $1,152,000 after acquiring an additional 5,706 shares during the period. JPMorgan Chase & Co. grew its position in shares of The Arena Group by 7,295.2% in the second quarter. JPMorgan Chase & Co. now owns 6,138 shares of the company’s stock valued at $38,000 after purchasing an additional 6,055 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of The Arena Group by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 14,116 shares of the company’s stock valued at $56,000 after purchasing an additional 6,188 shares during the last quarter. 85.55% of the stock is currently owned by institutional investors and hedge funds.
The Arena Group Company Profile
The Arena Group, Inc (NYSE: AREN) is a digital content and commerce company that operates a diversified portfolio of media brands across finance, sports and lifestyle categories. The company produces original editorial content, multimedia programming and newsletters for a broad digital audience, leveraging websites, social media, podcasts and video channels. Through e-commerce initiatives, affiliate marketing partnerships and targeted advertising, The Arena Group monetizes its verticals while driving engagement and subscriber growth.
Key brands in the company’s portfolio include TheStreet, a financial news and analysis platform; Sports Illustrated, for which the company holds exclusive global multimedia rights; Front Office Sports, covering the business of sports; Eat This, Not That!, a nutrition and wellness brand; and The Daily Meal, focused on food and lifestyle trends.
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