The Arena Group (NYSE:AREN) Stock Price Down 4% – Here’s Why

by · The Markets Daily

The Arena Group Holdings, Inc. (NYSE:AREN – Get Free Report)’s stock price traded down 4% during mid-day trading on Friday . The stock traded as low as $1.68 and last traded at $1.68. 19,791 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 473,944 shares. The stock had previously closed at $1.75.

The Arena Group Stock Down 4.0 %

The firm has a market cap of $79.74 million, a price-to-earnings ratio of -0.40 and a beta of 0.48. The business has a 50 day moving average of $1.49 and a 200 day moving average of $1.24.

Insider Activity at The Arena Group

In other news, Director Christopher Petzel sold 25,000 shares of The Arena Group stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $1.23, for a total value of $30,750.00. Following the transaction, the director now directly owns 25,010 shares of the company’s stock, valued at $30,762.30. The trade was a 49.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 74.20% of the company’s stock.

Institutional Investors Weigh In On The Arena Group

Several institutional investors and hedge funds have recently modified their holdings of AREN. Millennium Management LLC acquired a new position in The Arena Group during the 4th quarter worth approximately $259,000. Northern Trust Corp increased its stake in The Arena Group by 67.5% during the 4th quarter. Northern Trust Corp now owns 79,626 shares of the company’s stock worth $107,000 after buying an additional 32,083 shares during the period. Renaissance Technologies LLC acquired a new position in The Arena Group in the 4th quarter worth $33,000. Geode Capital Management LLC boosted its position in The Arena Group by 117.1% in the 4th quarter. Geode Capital Management LLC now owns 222,340 shares of the company’s stock valued at $298,000 after buying an additional 119,915 shares during the last quarter. Finally, 272 Capital LP acquired a new stake in shares of The Arena Group during the third quarter valued at about $250,000. Hedge funds and other institutional investors own 85.55% of the company’s stock.

About The Arena Group

(Get Free Report)

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.

See Also