The Arena Group Holdings, Inc. (NYSE:AREN) Director Sells 25,000 Shares

The Arena Group Holdings, Inc. (NYSE:AREN) Director Christopher Petzel sold 25,000 shares of The Arena Group stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $1.23, for a total transaction of $30,750.00. Following the transaction, the director now directly owns 25,010 shares in the company, valued at approximately $30,762.30. The trade was a 49.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

The Arena Group Trading Up 10.8 %

Shares of NYSE AREN opened at $1.44 on Friday. The stock has a market capitalization of $68.36 million, a PE ratio of -0.34 and a beta of 0.48. The Arena Group Holdings, Inc. has a 12-month low of $0.56 and a 12-month high of $2.35. The stock’s fifty day simple moving average is $1.45 and its two-hundred day simple moving average is $1.04.

Institutional Investors Weigh In On The Arena Group

An institutional investor recently bought a new position in The Arena Group stock. 272 Capital LP purchased a new stake in The Arena Group Holdings, Inc. (NYSE:AREN) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 308,274 shares of the company’s stock, valued at approximately $250,000. 272 Capital LP owned approximately 0.65% of The Arena Group as of its most recent filing with the SEC. 85.55% of the stock is owned by hedge funds and other institutional investors.

The Arena Group Company Profile

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.