The Arena Group Holdings, Inc. (NYSE:AREN – Get Rating) major shareholder B. Riley Financial, Inc. bought 170,104 shares of the company's stock in a transaction dated Friday, March 31st. The stock was purchased at an average price of $3.88 per share, for a total transaction of $660,003.52. Following the purchase, the insider now owns 1,378,715 shares of the company's stock, valued at approximately $5,349,414.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
The Arena Group Price Performance
Shares of NYSE AREN opened at $4.25 on Friday. The firm has a fifty day moving average price of $7.40 and a 200-day moving average price of $10.50. The Arena Group Holdings, Inc. has a 1 year low of $3.82 and a 1 year high of $16.50. The stock has a market cap of $77.78 million, a PE ratio of -1.04 and a beta of 0.25.
Get The Arena Group alerts:Wall Street Analyst Weigh In
Separately, B. Riley reduced their target price on shares of The Arena Group from $19.00 to $14.00 in a report on Friday, March 17th.
Hedge Funds Weigh In On The Arena Group
Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG boosted its position in shares of The Arena Group by 74.8% during the fourth quarter. UBS Group AG now owns 3,017 shares of the company's stock worth $32,000 after acquiring an additional 1,291 shares during the last quarter. Barclays PLC lifted its position in The Arena Group by 548.2% during the fourth quarter. Barclays PLC now owns 3,118 shares of the company's stock valued at $33,000 after purchasing an additional 2,637 shares during the last quarter. American International Group Inc. bought a new position in The Arena Group during the second quarter valued at $48,000. JPMorgan Chase & Co. bought a new position in The Arena Group during the second quarter valued at $55,000. Finally, MetLife Investment Management LLC bought a new stake in shares of The Arena Group in the 4th quarter worth about $74,000. 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.
Further Reading
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