Allied Esports Entertainment (NASDAQ:AESE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, 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. “
Shares of NASDAQ AESE traded down $0.07 during mid-day trading on Friday, hitting $1.93. 6,136 shares of the company’s stock traded hands, compared to its average volume of 2,329,359. The company’s 50-day moving average is $1.88 and its two-hundred day moving average is $2.02. Allied Esports Entertainment has a 1 year low of $1.10 and a 1 year high of $4.31.
Allied Esports Entertainment (NASDAQ:AESE) last issued its quarterly earnings results on Monday, November 22nd. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Allied Esports Entertainment had a net margin of 1,245.52% and a negative return on equity of 63.29%. During the same quarter in the prior year, the company earned ($0.22) EPS. On average, equities analysts predict that Allied Esports Entertainment will post -0.4 EPS for the current fiscal year.
In other Allied Esports Entertainment news, major shareholder Knighted Pastures Llc purchased 489,948 shares of the stock in a transaction dated Tuesday, November 30th. The stock was purchased at an average price of $1.80 per share, with a total value of $881,906.40. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Adam J. Pliska sold 106,143 shares of the company’s stock in a transaction that occurred on Thursday, November 4th. The stock was sold at an average price of $1.93, for a total transaction of $204,855.99. The disclosure for this sale can be found here. Insiders acquired a total of 728,391 shares of company stock worth $1,325,216 over the last 90 days. Insiders own 41.50% of the company’s stock.
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A number of large investors have recently bought and sold shares of the stock. State Street Corp purchased a new stake in Allied Esports Entertainment during the second quarter valued at approximately $268,000. Geode Capital Management LLC raised its holdings in shares of Allied Esports Entertainment by 22.8% in the second quarter. Geode Capital Management LLC now owns 161,952 shares of the company’s stock worth $372,000 after buying an additional 30,022 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Allied Esports Entertainment by 10.4% in the second quarter. Vanguard Group Inc. now owns 571,880 shares of the company’s stock worth $1,315,000 after buying an additional 54,091 shares during the last quarter. Finally, Cowen Investment Management LLC purchased a new position in shares of Allied Esports Entertainment in the second quarter worth $178,000. 3.70% of the stock is owned by institutional investors.
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).
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