The Arena Group (NYSE:AREN) Stock Price Up 2.3%

Shares of The Arena Group Holdings, Inc. (NYSE:ARENGet Free Report) traded up 2.3% on Wednesday . The stock traded as high as $0.98 and last traded at $0.88. 65,780 shares changed hands during trading, a decline of 58% from the average session volume of 155,281 shares. The stock had previously closed at $0.86.

The Arena Group Stock Performance

The company has a 50 day moving average price of $1.46 and a two-hundred day moving average price of $2.49. The firm has a market capitalization of $20.97 million, a price-to-earnings ratio of -0.28 and a beta of 0.11.

Insider Activity at The Arena Group

In related news, major shareholder Simplify Inventions, Llc bought 5,555,555 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was acquired at an average cost of $2.16 per share, with a total value of $11,999,998.80. Following the purchase, the insider now directly owns 16,067,791 shares of the company’s stock, valued at $34,706,428.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 9.45% of the stock is owned by corporate insiders.

Institutional Trading of The Arena Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Asset Management LLC grew its holdings in shares of The Arena Group by 37.1% during the 1st quarter. B. Riley Asset Management LLC now owns 2,156,296 shares of the company’s stock worth $9,164,000 after purchasing an additional 583,571 shares during the period. Boothbay Fund Management LLC grew its holdings in shares of The Arena Group by 107.6% during the 1st quarter. Boothbay Fund Management LLC now owns 841,198 shares of the company’s stock worth $3,575,000 after purchasing an additional 435,994 shares during the period. Vanguard Group Inc. grew its holdings in shares of The Arena Group by 186.8% during the 3rd quarter. Vanguard Group Inc. now owns 580,486 shares of the company’s stock worth $7,604,000 after purchasing an additional 378,104 shares during the period. State Street Corp purchased a new position in shares of The Arena Group during the 2nd quarter worth $1,311,000. Finally, B. Riley Financial Inc. boosted its holdings in The Arena Group by 2.4% during the 3rd quarter. B. Riley Financial Inc. now owns 5,715,870 shares of the company’s stock valued at $24,464,000 after acquiring an additional 134,550 shares during the period. 85.55% of the stock is owned by institutional investors and hedge funds.

About The Arena Group

(Get Free Report)

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.

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