The Arena Group (NYSE:AREN - Get Free Report) had its price target raised by Lake Street Capital from $10.00 to $12.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Lake Street Capital's price target indicates a potential upside of 84.19% from the company's current price.
The Arena Group Price Performance
Shares of The Arena Group stock traded down $0.19 during trading on Friday, hitting $6.52. The company's stock had a trading volume of 115,277 shares, compared to its average volume of 176,072. The Arena Group has a 52 week low of $0.56 and a 52 week high of $10.05. The stock has a market cap of $309.86 million, a price-to-earnings ratio of -1.52 and a beta of 0.61. The stock has a 50-day moving average price of $6.01 and a two-hundred day moving average price of $4.12.
The Arena Group (NYSE:AREN - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.08 earnings per share (EPS) for the quarter.
Hedge Funds Weigh In On The Arena Group
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new position in shares of The Arena Group during the fourth quarter valued at about $259,000. Renaissance Technologies LLC acquired a new position in shares of The Arena Group during the fourth quarter valued at about $33,000. Northern Trust Corp raised its holdings in shares of The Arena Group by 67.5% during the fourth quarter. Northern Trust Corp now owns 79,626 shares of the company's stock valued at $107,000 after purchasing an additional 32,083 shares during the period. Geode Capital Management LLC raised its holdings in shares of The Arena Group by 117.1% during the fourth quarter. Geode Capital Management LLC now owns 222,340 shares of the company's stock valued at $298,000 after purchasing an additional 119,915 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of The Arena Group during the second quarter valued at about $333,000. Institutional investors and hedge funds own 85.55% of the company's stock.
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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