Allied Gaming & Entertainment (NASDAQ:AGAE) Announces Earnings Results

Allied Gaming & Entertainment (NASDAQ:AGAE) announced its quarterly earnings results on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, Zacks reports. Allied Gaming & Entertainment had a return on equity of 3.50% and a net margin of 1.58%. The company had revenue of $179.67 million during the quarter.

Allied Gaming & Entertainment Stock Down 5.6 %

Shares of Allied Gaming & Entertainment stock opened at $1.01 on Friday. The firm has a market capitalization of $37.21 million, a P/E ratio of -20.20 and a beta of 1.31. Allied Gaming & Entertainment has a 52 week low of $0.76 and a 52 week high of $1.50. The firm’s 50 day moving average is $1.06 and its two-hundred day moving average is $1.00.

Insider Transactions at Allied Gaming & Entertainment

In related news, major shareholder Knighted Pastures Llc purchased 28,876 shares of Allied Gaming & Entertainment stock in a transaction that occurred on Thursday, January 18th. The stock was purchased at an average cost of $0.98 per share, with a total value of $28,298.48. Following the completion of the transaction, the insider now directly owns 8,306,374 shares in the company, valued at $8,140,246.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Allied Gaming & Entertainment news, major shareholder Roy Choi purchased 159,665 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average price of $1.26 per share, for a total transaction of $201,177.90. Following the purchase, the insider now directly owns 8,741,208 shares in the company, valued at $11,013,922.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Knighted Pastures Llc acquired 28,876 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was acquired at an average price of $0.98 per share, for a total transaction of $28,298.48. Following the completion of the purchase, the insider now owns 8,306,374 shares of the company’s stock, valued at approximately $8,140,246.52. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 209,841 shares of company stock worth $253,545. 39.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allied Gaming & Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in shares of Allied Gaming & Entertainment in the 2nd quarter valued at approximately $32,000. Jane Street Group LLC purchased a new position in Allied Gaming & Entertainment in the 3rd quarter valued at $26,000. Citadel Advisors LLC acquired a new position in Allied Gaming & Entertainment in the 2nd quarter valued at $33,000. Northern Trust Corp lifted its stake in shares of Allied Gaming & Entertainment by 85.1% in the 4th quarter. Northern Trust Corp now owns 37,502 shares of the company’s stock worth $40,000 after acquiring an additional 17,241 shares during the period. Finally, State Street Corp purchased a new stake in shares of Allied Gaming & Entertainment in the second quarter valued at about $74,000. Hedge funds and other institutional investors own 3.21% of the company’s stock.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment Inc provides entertainment and gaming products worldwide. It operates esports properties to connect players and fans through a network of connected arenas; a flagship gaming arena located at the Luxor Hotel in Las Vegas, Nevada; a mobile esports truck that serves as a battleground and content generation hub; and a studio for recording and streaming gaming events.