King Luther Capital Management Corp Reduces Stock Holdings in The Arena Group Holdings, Inc. (NYSE:AREN)

King Luther Capital Management Corp reduced its position in The Arena Group Holdings, Inc. (NYSE:AREN) by 28.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,549 shares of the company’s stock after selling 40,000 shares during the quarter. King Luther Capital Management Corp owned approximately 0.42% of The Arena Group worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, B. Riley Financial Inc. boosted its position in The Arena Group by 2.4% during the third quarter. B. Riley Financial Inc. now owns 5,715,870 shares of the company’s stock worth $24,464,000 after purchasing an additional 134,550 shares during the period. Institutional investors own 85.55% of the company’s stock.

The Arena Group Price Performance

NYSE AREN opened at $0.85 on Friday. The company’s 50 day moving average is $0.86 and its 200-day moving average is $1.63. The Arena Group Holdings, Inc. has a 12-month low of $0.60 and a 12-month high of $5.27.

The Arena Group (NYSE:AREN) last released its quarterly earnings data on Friday, May 17th. The company reported ($0.48) earnings per share for the quarter. The company had revenue of $28.94 million for the quarter.

The Arena Group 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.