Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Major Shareholder Acquires $298,450.00 in Stock

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) major shareholder Roy Choi bought 235,000 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was purchased at an average cost of $1.27 per share, with a total value of $298,450.00. Following the purchase, the insider now owns 2,826,822 shares of the company’s stock, valued at $3,590,063.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Roy Choi also recently made the following trade(s):

• On Thursday, June 27th, Roy Choi acquired 258,010 shares of Allied Gaming & Entertainment stock. The stock was purchased at an average price of $1.27 per share, with a total value of $327,672.70.

Allied Gaming & Entertainment Trading Up 7.0 %

AGAE opened at $1.38 on Friday. Allied Gaming & Entertainment Inc. has a 12-month low of $0.61 and a 12-month high of $1.50. The company has a market cap of $62.80 million, a price-to-earnings ratio of -15.33 and a beta of 1.49. The stock has a fifty day simple moving average of $0.86 and a two-hundred day simple moving average of $0.98.

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

Institutional Investors Weigh In On Allied Gaming & Entertainment

A hedge fund recently bought a new stake in Allied Gaming & Entertainment stock. Kure Advisory LLC bought a new position in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 quarter. 3.21% of the stock is currently owned by institutional investors.

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.