The Arena Group (NYSE:AREN) Stock Price Down 4.5% – Should You Sell?

The Arena Group Holdings, Inc. (NYSE:AREN) traded down 4.5% on Thursday . The stock traded as low as $1.3574 and last traded at $1.49. 67,450 shares were traded during trading, a decline of 12% from the average session volume of 76,252 shares. The stock had previously closed at $1.56.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital reduced their target price on The Arena Group from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, The Arena Group has an average rating of “Buy” and an average price target of $8.00.

The Arena Group Stock Up 2.0%

The stock has a market cap of $72.36 million, a P/E ratio of -0.36 and a beta of 1.08. The business has a 50 day moving average price of $2.16 and a 200 day moving average price of $3.28.

Institutional Trading of The Arena Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its stake in The Arena Group by 158.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,366 shares of the company’s stock worth $29,000 after acquiring an additional 3,290 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in The Arena Group in the 3rd quarter worth $30,000. State Street Corp grew its position in The Arena Group by 2.0% during the 4th quarter. State Street Corp now owns 288,125 shares of the company’s stock worth $1,152,000 after purchasing an additional 5,706 shares during the period. JPMorgan Chase & Co. grew its position in The Arena Group by 7,295.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,138 shares of the company’s stock worth $38,000 after purchasing an additional 6,055 shares during the period. Finally, Wells Fargo & Company MN grew its position in The Arena Group by 78.1% during the 4th quarter. Wells Fargo & Company MN now owns 14,116 shares of the company’s stock worth $56,000 after purchasing an additional 6,188 shares during the period. Hedge funds and other institutional investors own 85.55% of the company’s stock.

About The Arena Group

The Arena Group, Inc (NYSE: AREN) is a digital content and commerce company that operates a diversified portfolio of media brands across finance, sports and lifestyle categories. The company produces original editorial content, multimedia programming and newsletters for a broad digital audience, leveraging websites, social media, podcasts and video channels. Through e-commerce initiatives, affiliate marketing partnerships and targeted advertising, The Arena Group monetizes its verticals while driving engagement and subscriber growth.

Key brands in the company’s portfolio include TheStreet, a financial news and analysis platform; Sports Illustrated, for which the company holds exclusive global multimedia rights; Front Office Sports, covering the business of sports; Eat This, Not That!, a nutrition and wellness brand; and The Daily Meal, focused on food and lifestyle trends.