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

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

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

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

Allied Gaming & Entertainment Trading Up 7.0 %

NASDAQ AGAE opened at $1.38 on Friday. The company has a fifty day simple moving average of $0.86 and a 200 day simple moving average of $0.98. 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 P/E ratio of -15.33 and a beta of 1.49.

Allied Gaming & Entertainment (NASDAQ:AGAE) last posted its quarterly 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 business had revenue of $2.38 million during the quarter.

Institutional Trading of Allied Gaming & Entertainment

A hedge fund recently bought a new stake in Allied Gaming & Entertainment stock. Kure Advisory LLC purchased a new stake in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,457 shares of the company’s stock, valued at approximately $34,000. Kure Advisory LLC owned 0.09% of Allied Gaming & Entertainment at the end of the most recent quarter. Hedge funds and other institutional investors own 3.21% of the company’s stock.

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.