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

The Arena Group Holdings, Inc. (NYSE:AREN) Director Christopher Petzel sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $1.23, for a total value of $30,750.00. Following the completion of the transaction, the director now directly owns 25,010 shares in the company, valued at $30,762.30. The trade was a 49.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

The Arena Group Stock Performance

Shares of NYSE AREN traded down $0.15 during midday trading on Wednesday, hitting $1.30. 17,904 shares of the company’s stock traded hands, compared to its average volume of 46,254. The stock has a market capitalization of $61.71 million, a price-to-earnings ratio of -0.31 and a beta of 0.48. The firm has a fifty day moving average of $1.43 and a 200 day moving average of $1.03. The Arena Group Holdings, Inc. has a 1 year low of $0.56 and a 1 year high of $2.35.

Institutional Trading of The Arena Group

An institutional investor recently bought a new position in The Arena Group stock. 272 Capital LP acquired a new position in The Arena Group Holdings, Inc. (NYSE:AREN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 308,274 shares of the company’s stock, valued at approximately $250,000. 272 Capital LP owned approximately 0.65% of The Arena Group at the end of the most recent reporting period. 85.55% of the stock is owned by institutional investors and hedge funds.

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.