Stephens slashes price target on Allied Esports Entertainment Inc. [AESE] – find out why.

Allied Esports Entertainment Inc. [NASDAQ: AESE] traded at a high on 03/11/21, posting a 13.64 gain after which it closed the day’ session at $2.75. The company report on March 5, 2021 that Allied Esports Entertainment, Inc. Receives Proposal from Bally’s Corporation.

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Allied Esports Entertainment, Inc. (NASDAQ: AESE) (the “Company”), a global esports entertainment company, confirmed that it received an unsolicited proposal from Bally’s Corporation (“Bally’s”) to acquire all of the outstanding equity interests of the Company for a total consideration of $100 million, payable, at the Company’s option, in cash, Bally’s capital stock, or a combination of both. The Bally’s proposal would require the Company to terminate its previously announced agreement with Element Partners, LLC (“Element”) to sell all of the equity interests of Club Services, Inc. (“CSI”), an indirect wholly-owned subsidiary of the Company that directly or indirectly owns the Company’s poker-related business and assets, including the entities comprising the World Poker Tour® (“World Poker Tour,” or “WPT®”), for consideration totaling $78,250,000.

The Company’s Board of Directors, consistent with its duties and the Company’s obligations under its existing agreement with Element, will evaluate Bally’s proposal in due course. The Company and Element continue to discuss potential updates to the current terms of their agreement.

The results of the trading session contributed to over 6680551 shares changing hands. Over the past one week, the price volatility of Allied Esports Entertainment Inc. stands at 17.92% while the volatility over the past one month is 18.67%.

The market cap for AESE stock reached $144.27 million, with 29.63 million shares outstanding and 18.59 million shares in the current float. Compared to the average trading volume of 5.29M shares, AESE reached a trading volume of 6680551 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Allied Esports Entertainment Inc. [AESE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AESE shares is $3.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AESE stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stephens have made an estimate for Allied Esports Entertainment Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 18, 2019. The new note on the price target was released on December 11, 2019, representing the official price target for Allied Esports Entertainment Inc. stock.

The Average True Range (ATR) for Allied Esports Entertainment Inc. is set at 0.43, with the Price to Sales ratio for AESE stock in the period of the last 12 months amounting to 6.27. The Price to Book ratio for the last quarter was 1.86, with the Price to Cash per share for the same quarter was set at 0.11.

How has AESE stock performed recently?

Allied Esports Entertainment Inc. [AESE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.90. With this latest performance, AESE shares gained by 16.03% in over the last four-week period, additionally plugging by 93.66% over the last 6 months – not to mention a rise of 61.76% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AESE stock in for the last two-week period is set at 57.01, with the RSI for the last a single of trading hit 58.11, and the three-weeks RSI is set at 56.78 for Allied Esports Entertainment Inc. [AESE]. The present Moving Average for the last 50 days of trading for this stock 2.09, while it was recorded at 2.44 for the last single week of trading, and 1.80 for the last 200 days.

Allied Esports Entertainment Inc. [AESE]: Deeper insight into the fundamentals

Allied Esports Entertainment Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Earnings analysis for Allied Esports Entertainment Inc. [AESE]

With the latest financial reports released by the company, Allied Esports Entertainment Inc. posted -0.24/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -166.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AESE.

Insider trade positions for Allied Esports Entertainment Inc. [AESE]

There are presently around $2 million, or 2.80% of AESE stock, in the hands of institutional investors. The top three institutional holders of AESE stocks are: VANGUARD GROUP INC with ownership of 388,594, which is approximately 83.642% of the company’s market cap and around 17.30% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 166,457 shares of the stock with an approximate value of $0.46 million in AESE stocks shares; and VIRTU FINANCIAL LLC, currently with $0.24 million in AESE stock with ownership of nearly New of the company’s market capitalization.

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12 institutional holders increased their position in Allied Esports Entertainment Inc. [NASDAQ:AESE] by around 607,910 shares. Additionally, 6 investors decreased positions by around 62,152 shares, while 1 investors held positions by with 229,873 shares. The mentioned changes placed institutional holdings at 899,935 shares, according to the latest SEC report filing. AESE stock had 6 new institutional investments in for a total of 322,507 shares, while 5 institutional investors sold positions of 59,192 shares during the same period.

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