The Arena Group Holdings, Inc. (NYSE:AREN - Get Free Report) shares were down 7.7% during mid-day trading on Wednesday . The stock traded as low as $1.41 and last traded at $1.44. Approximately 65,103 shares changed hands during trading, an increase of 75% from the average daily volume of 37,148 shares. The stock had previously closed at $1.56.
The Arena Group Trading Up 5.1 %
The firm has a fifty day moving average of $1.43 and a 200-day moving average of $1.10.
Insider Activity
In related news, Director Christopher Petzel sold 25,000 shares of the firm's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $1.23, for a total transaction of $30,750.00. Following the completion of the transaction, the director now directly owns 25,010 shares of the company's stock, valued at $30,762.30. This trade represents a 49.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 74.20% of the stock is owned by company insiders.
Hedge Funds Weigh In On The Arena Group
Several hedge funds have recently modified their holdings of the company. 272 Capital LP purchased a new position in The Arena Group in the 3rd quarter valued at approximately $250,000. Geode Capital Management LLC grew its position in The Arena Group by 117.1% in the fourth quarter. Geode Capital Management LLC now owns 222,340 shares of the company's stock worth $298,000 after acquiring an additional 119,915 shares in the last quarter. Renaissance Technologies LLC bought a new stake in The Arena Group in the fourth quarter worth $33,000. Finally, Northern Trust Corp lifted its stake in The Arena Group by 67.5% in the fourth quarter. Northern Trust Corp now owns 79,626 shares of the company's stock worth $107,000 after purchasing an additional 32,083 shares during the last quarter. Institutional investors own 85.55% of the company's stock.
About The Arena Group
(
Get Free Report)
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.
See Also
Before you consider The Arena Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Arena Group wasn't on the list.
While The Arena Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
