The Arena Group (NYSE:AREN) Downgraded to “Hold” Rating by Lake Street Capital

The Arena Group (NYSE:AREN) was downgraded by investment analysts at Lake Street Capital from a “buy” rating to a “hold” rating in a report issued on Tuesday, MarketBeat reports. They presently have a $2.00 price target on the stock. Lake Street Capital’s price target would indicate a potential downside of 9.09% from the stock’s current price.

The Arena Group Stock Up 25.0%

NYSE AREN opened at $2.20 on Tuesday. The stock has a fifty day simple moving average of $1.14 and a 200 day simple moving average of $2.08. The Arena Group has a twelve month low of $0.81 and a twelve month high of $7.85. The company has a market capitalization of $104.73 million, a price-to-earnings ratio of -0.52 and a beta of 0.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AREN. BlackRock Inc. bought a new stake in shares of The Arena Group during the second quarter valued at about $169,000. DGS Capital Management LLC purchased a new position in The Arena Group in the 4th quarter worth $98,000. Millennium Management LLC increased its stake in The Arena Group by 136.1% in the 4th quarter. Millennium Management LLC now owns 41,662 shares of the company’s stock worth $167,000 after purchasing an additional 24,017 shares during the period. Bridgeway Capital Management LLC increased its position in shares of The Arena Group by 63.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 77,600 shares of the company’s stock valued at $310,000 after acquiring an additional 30,000 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of The Arena Group by 90.5% during the fourth quarter. AQR Capital Management LLC now owns 22,421 shares of the company’s stock worth $90,000 after purchasing an additional 10,654 shares during the period. 85.55% of the stock is owned by 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.