The Arena Group (NYSE:AREN) Trading Down 4.3% – Should You Sell?

The Arena Group Holdings, Inc. (NYSE:AREN)’s share price traded down 4.3% on Friday . The stock traded as low as $2.89 and last traded at $2.89. 42,736 shares traded hands during trading, a decline of 33% from the average session volume of 63,998 shares. The stock had previously closed at $3.02.

The Arena Group Stock Down 4.3%

The firm has a 50 day moving average of $3.75 and a 200-day moving average of $4.69. The company has a market cap of $137.50 million, a P/E ratio of -0.68 and a beta of 0.88.

Hedge Funds Weigh In On The Arena Group

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in The Arena Group by 90.8% in the second quarter. Geode Capital Management LLC now owns 437,924 shares of the company’s stock worth $2,716,000 after acquiring an additional 208,448 shares during the period. Marshall Wace LLP bought a new stake in shares of The Arena Group in the 2nd quarter valued at about $333,000. First Trust Advisors LP purchased a new stake in shares of The Arena Group in the 3rd quarter worth approximately $200,000. Bridgeway Capital Management LLC lifted its position in shares of The Arena Group by 63.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 77,600 shares of the company’s stock worth $310,000 after purchasing an additional 30,000 shares during the period. Finally, LPL Financial LLC boosted its stake in shares of The Arena Group by 14.5% during the fourth quarter. LPL Financial LLC now owns 222,405 shares of the company’s stock valued at $890,000 after purchasing an additional 28,200 shares in the last quarter. Hedge funds and other institutional investors own 85.55% of the company’s stock.

The Arena Group Company Profile

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.