The Arena Group (NYSE:AREN) Announces Earnings Results

The Arena Group (NYSE:AREN) issued its earnings results on Tuesday. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.10), reports. The firm had revenue of $63.42 million for the quarter, compared to the consensus estimate of $67.80 million.

The Arena Group Price Performance

Shares of NYSE AREN traded up $0.11 during midday trading on Friday, reaching $3.05. 74,834 shares of the stock were exchanged, compared to its average volume of 48,920. The Arena Group has a 12 month low of $2.47 and a 12 month high of $16.50. The business has a 50-day simple moving average of $4.04 and a two-hundred day simple moving average of $4.00. The company has a market capitalization of $72.56 million, a price-to-earnings ratio of -0.92 and a beta of 0.19.

Institutional Trading of The Arena Group

Large investors have recently bought and sold shares of the business. UBS Group AG grew its position in shares of The Arena Group by 74.8% in the 4th quarter. UBS Group AG now owns 3,017 shares of the company’s stock valued at $32,000 after acquiring an additional 1,291 shares during the period. Barclays PLC lifted its position in shares of The Arena Group by 548.2% during the 4th quarter. Barclays PLC now owns 3,118 shares of the company’s stock valued at $33,000 after acquiring an additional 2,637 shares during the period. American International Group Inc. bought a new position in The Arena Group in the 2nd quarter valued at about $48,000. JPMorgan Chase & Co. acquired a new position in The Arena Group during the second quarter valued at approximately $55,000. Finally, Citigroup Inc. acquired a new stake in The Arena Group in the second quarter valued at about $29,000. 50.14% of the stock is owned by institutional investors.

The Arena Group Company Profile

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.