The Arena Group (NYSE:AREN) Trading Down 9.5% – What’s Next?

The Arena Group Holdings, Inc. (NYSE:ARENGet Free Report) shares were down 9.5% on Monday . The stock traded as low as $1.12 and last traded at $1.14. Approximately 306,096 shares changed hands during mid-day trading, an increase of 264% from the average daily volume of 84,181 shares. The stock had previously closed at $1.26.

Analysts Set New Price Targets

Separately, Lake Street Capital reduced their target price on shares of The Arena Group from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $8.00.

Check Out Our Latest Stock Analysis on The Arena Group

The Arena Group Price Performance

The company has a market cap of $54.27 million, a PE ratio of -0.27 and a beta of 0.91. The firm’s 50 day moving average is $1.82 and its 200 day moving average is $2.94.

Institutional Investors Weigh In On The Arena Group

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its holdings in shares of 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 last quarter. Russell Investments Group Ltd. bought a new stake in shares of The Arena Group in the 3rd quarter worth approximately $30,000. JPMorgan Chase & Co. lifted its holdings in shares of The Arena Group by 7,295.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,138 shares of the company’s stock worth $38,000 after acquiring an additional 6,055 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of The Arena Group in the 2nd quarter worth approximately $44,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of The Arena Group in the 4th quarter worth approximately $52,000. 85.55% of the stock is currently owned by institutional investors.

The Arena Group Company Profile

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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.

Further Reading

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