The Arena Group (NYSE:AREN - Get Free Report) had its target price boosted by equities research analysts at Lake Street Capital from $10.00 to $12.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Lake Street Capital's price objective would suggest a potential upside of 86.34% from the company's previous close.
The Arena Group Stock Performance
Shares of NYSE AREN traded down $0.35 during mid-day trading on Friday, reaching $6.44. The company's stock had a trading volume of 177,087 shares, compared to its average volume of 181,920. The Arena Group has a 1-year low of $0.56 and a 1-year high of $10.05. The stock has a market capitalization of $305.68 million, a P/E ratio of -1.52 and a beta of 0.61. The stock has a 50-day moving average of $6.12 and a two-hundred day moving average of $4.25.
Institutional Investors Weigh In On The Arena Group
A number of institutional investors have recently made changes to their positions in AREN. Renaissance Technologies LLC acquired a new stake in shares of The Arena Group during the fourth quarter valued at about $33,000. JPMorgan Chase & Co. lifted its stake in The Arena Group by 7,295.2% in 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 position in The Arena Group in the second quarter worth approximately $44,000. State of Wyoming purchased a new position in The Arena Group in the second quarter worth approximately $68,000. Finally, Bank of America Corp DE raised its holdings in The Arena Group by 103.2% during the second quarter. Bank of America Corp DE now owns 12,474 shares of the company's stock worth $77,000 after purchasing an additional 6,335 shares in the last quarter. 85.55% of the stock is currently owned by institutional investors and hedge funds.
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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