The Arena Group (NYSE:AREN) Trading Up 7.8%

The Arena Group Holdings, Inc. (NYSE:AREN) traded up 7.8% during trading on Monday . The stock traded as high as $0.81 and last traded at $0.79. 18,392 shares were traded during mid-day trading, a decline of 85% from the average session volume of 122,621 shares. The stock had previously closed at $0.74.

The Arena Group Stock Up 7.8 %

The business has a 50-day moving average price of $1.11 and a two-hundred day moving average price of $1.90. The company has a market cap of $23.61 million, a P/E ratio of -0.31 and a beta of 0.22.

The Arena Group (NYSE:AREN) last released its earnings results on Monday, April 1st. The company reported ($0.17) earnings per share (EPS) for the quarter. The business had revenue of $70.60 million for the quarter.

Insider Buying and Selling at The Arena Group

In related news, major shareholder Simplify Inventions, Llc acquired 5,555,555 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was acquired at an average price of $2.16 per share, for a total transaction of $11,999,998.80. Following the completion of the acquisition, the insider now owns 16,067,791 shares of the company’s stock, valued at approximately $34,706,428.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.45% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in The Arena Group stock. B. Riley Financial Inc. increased its stake in The Arena Group Holdings, Inc. (NYSE:AREN) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,715,870 shares of the company’s stock after purchasing an additional 134,550 shares during the period. The Arena Group makes up 8.3% of B. Riley Financial Inc.’s holdings, making the stock its 4th largest position. B. Riley Financial Inc. owned approximately 24.03% of The Arena Group worth $24,464,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 85.55% of the company’s stock.

About The Arena Group

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.