The Arena Group Holdings, Inc. (NYSEAMERICAN:PAAI) Stock Short Interest Report for September

The Arena Group Holdings, Inc. (NYSEAMERICAN:PAAI) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 1,064,453 shares, a growth of 113.1% from the September 15th total of 499,392 shares. Currently, 8.3% of the company’s shares are sold short. Based on an average daily trading volume, of 10,208,924 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On The Arena Group

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

Analyst Ratings Changes

Several research firms have recently weighed in on PAAI. Zacks Research upgraded shares of The Arena Group to a “hold” rating in a report on Monday, October 5th. Lake Street Capital cut The Arena Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $6.00 to $2.00 in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.00.

The Arena Group Stock Performance

NYSEAMERICAN:PAAI traded down $0.09 during midday trading on Tuesday, reaching $0.98. 285,596 shares of the stock traded hands, compared to its average volume of 3,968,507. The company has a fifty day moving average of $1.17 and a 200 day moving average of $1.41. The Arena Group has a 12 month low of $0.82 and a 12 month high of $3.47. The stock has a market capitalization of $46.68 million, a P/E ratio of 5.16 and a beta of 0.76.

The Arena Group Company Profile

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.