Allied Gaming & Entertainment (NASDAQ:AGAE) Issues Quarterly Earnings Results

Allied Gaming & Entertainment (NASDAQ:AGAE) posted its earnings results on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, Zacks reports. Allied Gaming & Entertainment had a negative return on equity of 5.01% and a negative net margin of 62.56%. The company had revenue of $179.67 million for the quarter.

Allied Gaming & Entertainment Trading Down 1.0 %

AGAE opened at $0.92 on Wednesday. The business’s 50-day moving average is $1.05 and its two-hundred day moving average is $0.99. Allied Gaming & Entertainment has a 1 year low of $0.76 and a 1 year high of $1.50.

Insider Buying and Selling at Allied Gaming & Entertainment

In related news, major shareholder Roy Choi bought 159,665 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were bought at an average price of $1.26 per share, for a total transaction of $201,177.90. Following the completion of the purchase, the insider now directly owns 8,741,208 shares of the company’s stock, valued at $11,013,922.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Allied Gaming & Entertainment news, major shareholder Knighted Pastures Llc purchased 28,876 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were acquired at an average price of $0.98 per share, for a total transaction of $28,298.48. Following the completion of the purchase, the insider now owns 8,306,374 shares of the company’s stock, valued at $8,140,246.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Roy Choi purchased 159,665 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were acquired at an average price of $1.26 per share, for a total transaction of $201,177.90. Following the purchase, the insider now directly owns 8,741,208 shares of the company’s stock, valued at approximately $11,013,922.08. The disclosure for this purchase can be found here. Insiders have purchased 209,841 shares of company stock worth $253,545 over the last quarter. Insiders own 39.40% of the company’s stock.

Institutional Investors Weigh In On Allied Gaming & Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Allied Gaming & Entertainment by 11.6% during the first quarter. Vanguard Group Inc. now owns 419,743 shares of the company’s stock worth $724,000 after purchasing an additional 43,563 shares during the period. BlackRock Inc. acquired a new stake in shares of Allied Gaming & Entertainment during the second quarter worth about $385,000. Geode Capital Management LLC acquired a new stake in shares of Allied Gaming & Entertainment during the second quarter worth about $154,000. State Street Corp acquired a new stake in shares of Allied Gaming & Entertainment during the second quarter worth about $74,000. Finally, Jane Street Group LLC lifted its holdings in Allied Gaming & Entertainment by 132.9% in the fourth quarter. Jane Street Group LLC now owns 52,358 shares of the company’s stock valued at $55,000 after acquiring an additional 29,877 shares during the period. Institutional investors and hedge funds own 3.21% of the company’s stock.

Allied Gaming & Entertainment Company Profile

Allied Gaming & Entertainment Inc provides entertainment and gaming products worldwide. It operates esports properties to connect players and fans through a network of connected arenas; a flagship gaming arena located at the Luxor Hotel in Las Vegas, Nevada; a mobile esports truck that serves as a battleground and content generation hub; and a studio for recording and streaming gaming events.