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

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

Allied Gaming & Entertainment Stock Performance

Shares of Allied Gaming & Entertainment stock opened at $1.27 on Monday. The stock has a market capitalization of $57.80 million, a price-to-earnings ratio of -14.11 and a beta of 1.35. Allied Gaming & Entertainment Inc. has a twelve month low of $0.61 and a twelve month high of $1.50. The business’s 50 day simple moving average is $0.82 and its 200-day simple moving average is $0.98.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Allied Gaming & Entertainment stock. Kure Advisory LLC acquired a new position in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 32,457 shares of the company’s stock, valued at approximately $34,000. Kure Advisory LLC owned approximately 0.09% of Allied Gaming & Entertainment at the end of the most recent reporting period. 3.21% of the stock is 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.