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

Allied Esports Entertainment (NASDAQ:AESE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, 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 note on Tuesday, May 25th.

Allied Esports Entertainment stock opened at $1.78 on Monday. Allied Esports Entertainment has a 52 week low of $0.86 and a 52 week high of $4.31. The company’s 50 day moving average price is $1.97 and its two-hundred day moving average price is $2.32.

Allied Esports Entertainment (NASDAQ:AESE) last posted its quarterly earnings results on Sunday, August 15th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. The company had revenue of $0.83 million during the quarter. As a group, sell-side analysts expect that Allied Esports Entertainment will post -0.52 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HRT Financial LP purchased a new position in Allied Esports Entertainment in the first quarter worth $43,000. Bank of New York Mellon Corp bought a new stake in Allied Esports Entertainment in the first quarter worth $58,000. PEAK6 Investments LLC bought a new stake in Allied Esports Entertainment in the first quarter worth $143,000. BlackRock Inc. lifted its stake in Allied Esports Entertainment by 210.5% in the first quarter. BlackRock Inc. now owns 64,899 shares of the company’s stock worth $187,000 after purchasing an additional 43,998 shares during the last quarter. Finally, Cowen Investment Management LLC bought a new stake in Allied Esports Entertainment in the second quarter worth $178,000. Hedge funds and other institutional investors own 3.70% of the company’s stock.

About Allied Esports Entertainment

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).

Recommended Story: What is the Nikkei 225 index?    

Get a free copy of the Zacks research report on Allied Esports Entertainment (AESE)

For more information about research offerings from Zacks Investment Research, visit

Receive News & Ratings for Allied Esports Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allied Esports Entertainment and related companies with's FREE daily email newsletter.