The Arena Group (NYSEAMERICAN:PAAI) Releases Earnings Results, Misses Estimates By $0.07 EPS

The Arena Group (NYSEAMERICAN:PAAI) issued its quarterly earnings data on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.07), FiscalAI reports. The firm had revenue of $20.54 million during the quarter. The Arena Group had a negative return on equity of 124.11% and a net margin of 9.31%.

The Arena Group Stock Performance

Shares of NYSEAMERICAN PAAI opened at $0.89 on Tuesday. The company has a market cap of $42.26 million, a PE ratio of 4.67 and a beta of 0.69. The business has a 50-day simple moving average of $1.01 and a two-hundred day simple moving average of $1.74. The Arena Group has a fifty-two week low of $0.70 and a fifty-two week high of $5.18.

Hedge Funds Weigh In On The Arena Group

An institutional investor recently bought a new position in The Arena Group stock. BlackRock Inc. acquired a new stake in The Arena Group Holdings, Inc. (NYSEAMERICAN:PAAI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 203,946 shares of the company’s stock, valued at approximately $169,000. BlackRock Inc. owned about 0.43% of The Arena Group as of its most recent SEC filing. Institutional investors and hedge funds own 85.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PAAI shares. Zacks Research raised shares of The Arena Group to a “hold” rating in a research report on Monday, October 5th. Lake Street Capital lowered shares of The Arena Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $6.00 to $2.00 in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat, The Arena Group presently has an average rating of “Hold” and an average target price of $2.00.

About The Arena Group

The Arena Group, formerly known as Maven, is a digital media company that develops, operates and distributes editorial content across sports, lifestyle, entertainment and financial media. Its business has included digital publications, magazines, newsletters, video and other online content designed to reach targeted audiences.

The company has operated a portfolio of brands that has included Sports Illustrated, TheStreet, Parade and other enthusiast-focused media properties. Its activities have included digital advertising, subscriptions, licensing, e-commerce and brand partnerships, with content distributed primarily through websites, mobile platforms, social media and selected print products.

Founded as Maven in 2016, the company changed its name to The Arena Group Holdings, Inc in 2022 following the expansion of its media portfolio.