The Arena Group (NYSE:AREN) Shares Up 0.5% – Should You Buy?

The Arena Group Holdings, Inc. (NYSE:AREN)’s stock price rose 0.5% on Tuesday . The stock traded as high as $4.04 and last traded at $3.95. Approximately 122,310 shares changed hands during trading, a decline of 38% from the average daily volume of 195,775 shares. The stock had previously closed at $3.93.

The Arena Group Trading Up 4.3%

The stock has a market capitalization of $196.02 million, a price-to-earnings ratio of -0.97 and a beta of 0.82. The stock has a 50-day simple moving average of $4.43 and a 200 day simple moving average of $5.42.

Hedge Funds Weigh In On The Arena Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of The Arena Group by 90.8% during 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 in the last quarter. Marshall Wace LLP acquired a new position in The Arena Group in the 2nd quarter worth about $333,000. Bridgeway Capital Management LLC raised its stake in shares of The Arena Group by 72.5% during the 3rd quarter. Bridgeway Capital Management LLC now owns 47,600 shares of the company’s stock worth $260,000 after purchasing an additional 20,000 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of The Arena Group during the 3rd quarter valued at about $200,000. Finally, Two Sigma Investments LP grew its stake in shares of The Arena Group by 42.3% in the 3rd quarter. Two Sigma Investments LP now owns 22,017 shares of the company’s stock valued at $120,000 after buying an additional 6,548 shares in the last quarter. 85.55% of the stock is currently owned by hedge funds and other institutional investors.

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.