The Arena Group (NYSE:AREN) Price Target Lowered to $8.00 at Lake Street Capital

The Arena Group (NYSE:AREN) had its price objective lowered by Lake Street Capital from $10.00 to $8.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

The Arena Group Stock Performance

The Arena Group stock opened at $2.20 on Tuesday. The firm has a market capitalization of $104.67 million, a PE ratio of -0.52 and a beta of 0.90. The Arena Group has a one year low of $1.46 and a one year high of $10.05. The stock’s 50 day moving average price is $3.48 and its 200 day moving average price is $4.36.

Institutional Investors Weigh In On The Arena Group

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in 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 buying an additional 3,290 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of The Arena Group during the third quarter valued at about $30,000. JPMorgan Chase & Co. increased its position in shares of The Arena Group by 7,295.2% during the second 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. purchased a new stake in shares of The Arena Group during the second quarter worth about $44,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of The Arena Group in the fourth quarter worth about $52,000. 85.55% of the stock is 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.