Insider Buying: Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Major Shareholder Acquires 258,010 Shares of Stock

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) major shareholder Roy Choi acquired 258,010 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were purchased at an average cost of $1.27 per share, with a total value of $327,672.70. Following the completion of the acquisition, the insider now owns 2,461,832 shares in the company, valued at approximately $3,126,526.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large 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 Price Performance

Allied Gaming & Entertainment stock opened at $1.27 on Monday. Allied Gaming & Entertainment Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $1.50. The firm has a fifty day moving average price of $0.82 and a two-hundred day moving average price of $0.98. The firm has a market cap of $57.80 million, a price-to-earnings ratio of -14.11 and a beta of 1.35.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Allied Gaming & Entertainment stock. Kure Advisory LLC bought a new stake in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 32,457 shares of the company’s stock, valued at approximately $34,000. Kure Advisory LLC owned about 0.09% of Allied Gaming & Entertainment at the end of the most recent reporting period. 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.