Equities researchers at Lake Street Capital initiated coverage on shares of The Arena Group (NYSE:AREN - Get Free Report) in a research note issued on Monday. The firm set a "buy" rating and a $10.00 price target on the stock. Lake Street Capital's target price suggests a potential upside of 84.16% from the company's current price.
The Arena Group Price Performance
Shares of NYSE:AREN traded up $0.19 during trading on Monday, hitting $5.43. 22,095 shares of the company were exchanged, compared to its average volume of 551,064. The company has a market cap of $258.26 million, a PE ratio of -1.28 and a beta of 0.59. The stock has a 50 day moving average of $6.04 and a 200 day moving average of $3.47. The Arena Group has a 52-week low of $0.56 and a 52-week high of $10.05.
The Arena Group (NYSE:AREN - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.08 EPS for the quarter.
Hedge Funds Weigh In On The Arena Group
A number of institutional investors have recently bought and sold shares of AREN. Renaissance Technologies LLC purchased a new stake in The Arena Group during the fourth quarter worth $33,000. Northern Trust Corp lifted its holdings in The Arena Group by 67.5% during the fourth quarter. Northern Trust Corp now owns 79,626 shares of the company's stock worth $107,000 after buying an additional 32,083 shares during the period. Millennium Management LLC purchased a new stake in shares of The Arena Group during the 4th quarter valued at $259,000. Finally, Geode Capital Management LLC boosted its position in shares of The Arena Group by 117.1% in the 4th quarter. Geode Capital Management LLC now owns 222,340 shares of the company's stock worth $298,000 after purchasing an additional 119,915 shares in the last quarter. 85.55% of the stock is owned by institutional investors.
The Arena Group Company Profile
(
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.
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