The Arena Group (NYSEAMERICAN:PAAI) Raised to “Hold” at Zacks Research

The Arena Group (NYSEAMERICAN:PAAI – Get Free Report) was upgraded by stock analysts at Zacks Research to a “hold” rating in a research report issued on Monday, Zacks reports.

Separately, Lake Street Capital cut shares of The Arena Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $6.00 to $2.00 in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, The Arena Group currently has an average rating of “Hold” and a consensus price target of $2.00.

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The Arena Group Trading Down 3.8%

Shares of PAAI stock opened at $1.02 on Monday. The stock has a 50 day moving average of $1.18 and a two-hundred day moving average of $1.45. The Arena Group has a 12 month low of $0.82 and a 12 month high of $3.47. The company has a market capitalization of $48.56 million, a P/E ratio of 5.37 and a beta of 0.76.

Institutional Investors Weigh In On The Arena Group

An institutional investor recently bought a new position in The Arena Group stock. BlackRock Inc. bought a new stake in shares of The Arena Group Holdings, Inc. (NYSEAMERICAN:PAAI – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 203,946 shares of the company’s stock, valued at approximately $169,000. BlackRock Inc. owned 0.43% of The Arena Group at the end of the most recent quarter. 85.55% of the stock is currently owned by hedge funds and other institutional investors.

About The Arena Group

(Get Free Report)

The Arena Group, formerly known as Maven, is a digital media company that develops, operates and distributes editorial content across sports, lifestyle, entertainment and financial media. Its business has included digital publications, magazines, newsletters, video and other online content designed to reach targeted audiences.

The company has operated a portfolio of brands that has included Sports Illustrated, TheStreet, Parade and other enthusiast-focused media properties. Its activities have included digital advertising, subscriptions, licensing, e-commerce and brand partnerships, with content distributed primarily through websites, mobile platforms, social media and selected print products.

Founded as Maven in 2016, the company changed its name to The Arena Group Holdings, Inc in 2022 following the expansion of its media portfolio.

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