The Arena Group (NYSE:AREN) Trading Up 3.3% – Still a Buy?

The Arena Group Holdings, Inc. (NYSE:AREN) shares shot up 3.3% during trading on Wednesday . The stock traded as high as $4.47 and last traded at $4.35. 53,158 shares were traded during trading, a decline of 38% from the average session volume of 85,440 shares. The stock had previously closed at $4.21.

The Arena Group Stock Up 3.3%

The firm has a market capitalization of $206.96 million, a price-to-earnings ratio of -1.02 and a beta of 0.87. The company has a fifty day moving average price of $4.15 and a two-hundred day moving average price of $5.27.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AREN. JPMorgan Chase & Co. raised its holdings in shares of The Arena Group by 248.8% in the third quarter. JPMorgan Chase & Co. now owns 21,411 shares of the company’s stock valued at $117,000 after buying an additional 15,273 shares during the last quarter. Verition Fund Management LLC purchased a new stake in The Arena Group during the 3rd quarter valued at approximately $80,000. Centiva Capital LP acquired a new stake in The Arena Group during the 3rd quarter worth approximately $87,000. Two Sigma Investments LP lifted its position in The Arena Group by 42.3% during the 3rd quarter. Two Sigma Investments LP now owns 22,017 shares of the company’s stock worth $120,000 after acquiring an additional 6,548 shares during the period. Finally, Bridgeway Capital Management LLC grew its stake in shares of The Arena Group by 72.5% in the 3rd quarter. Bridgeway Capital Management LLC now owns 47,600 shares of the company’s stock valued at $260,000 after purchasing an additional 20,000 shares during the last quarter. 85.55% of the stock is currently owned by institutional investors and hedge funds.

The Arena Group Company Profile

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.