Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Major Shareholder Buys $327,672.70 in Stock

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) major shareholder Roy Choi purchased 258,010 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were purchased at an average cost of $1.27 per share, for a total transaction of $327,672.70. Following the purchase, the insider now directly owns 2,461,832 shares in the company, valued at $3,126,526.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Allied Gaming & Entertainment Stock Performance

AGAE stock remained flat at $1.27 on Friday. The company had a trading volume of 129,125 shares, compared to its average volume of 54,924. Allied Gaming & Entertainment Inc. has a 12-month low of $0.61 and a 12-month high of $1.50. The firm’s 50-day moving average price is $0.82 and its two-hundred day moving average price is $0.98. The company has a market capitalization of $57.80 million, a P/E ratio of -14.11 and a beta of 1.35.

Allied Gaming & Entertainment (NASDAQ:AGAE) last issued its quarterly earnings results on Monday, May 20th. The company reported ($0.04) earnings per share for the quarter. Allied Gaming & Entertainment had a negative return on equity of 3.84% and a negative net margin of 38.47%. The business had revenue of $2.38 million for the quarter.

Institutional Trading of Allied Gaming & Entertainment

An institutional investor recently raised its position in Allied Gaming & Entertainment stock. Innealta Capital LLC lifted its position in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 100.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,582 shares of the company’s stock after buying an additional 58,791 shares during the period. Innealta Capital LLC owned approximately 0.27% of Allied Gaming & Entertainment worth $119,000 as of its most recent SEC filing. 3.21% of the stock is currently owned by institutional investors and hedge funds.

Allied Gaming & Entertainment Company Profile

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.