Allied Esports Entertainment (NASDAQ:AESE) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Allied Esports Entertainment (NASDAQ:AESE) from a buy rating to a hold rating in a research note released on Monday morning, Zacks.com reports.

According to Zacks, “Allied Esports Entertainment Inc. is a premier esports entertainment company. Allied Esports Entertainment Inc., formerly known as Black Ridge Acquisition Corp., is based in CA, United States. “

Separately, Colliers Securities lowered shares of Allied Esports Entertainment from a buy rating to a neutral rating in a research report on Tuesday, May 25th.

NASDAQ AESE opened at $1.75 on Monday. The company’s fifty day moving average is $1.98 and its two-hundred day moving average is $2.33. Allied Esports Entertainment has a 52-week low of $0.86 and a 52-week high of $4.31.

Allied Esports Entertainment (NASDAQ:AESE) last issued its earnings results on Sunday, August 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.05. The business had revenue of $0.83 million for the quarter. Research analysts forecast that Allied Esports Entertainment will post -0.52 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. HRT Financial LP bought a new position in Allied Esports Entertainment during the 1st quarter valued at about $43,000. Bank of New York Mellon Corp bought a new position in Allied Esports Entertainment during the 1st quarter valued at about $58,000. Geode Capital Management LLC lifted its holdings in Allied Esports Entertainment by 22.8% during the 2nd quarter. Geode Capital Management LLC now owns 161,952 shares of the company’s stock valued at $372,000 after purchasing an additional 30,022 shares during the last quarter. BlackRock Inc. lifted its holdings in Allied Esports Entertainment by 210.5% during the 1st quarter. BlackRock Inc. now owns 64,899 shares of the company’s stock valued at $187,000 after purchasing an additional 43,998 shares during the last quarter. Finally, PEAK6 Investments LLC bought a new position in Allied Esports Entertainment during the 1st quarter valued at about $143,000. 3.70% of the stock is owned by hedge funds and other institutional investors.

Allied Esports Entertainment Company Profile

Allied Esports Entertainment, Inc is an esports entertainment company, which engages in the creation of esports venues and live events for both video games and poker. It operates through the following segments: Poker, gaming & entertainment and E-sports. The Poker, gaming & entertainment segment provides televised gaming and entertainment, land-based poker tournaments, online and mobile poker applications through World Poker Tour (WPT).

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