MediaCo Holding Inc. (NASDAQ:MDIA – Get Free Report) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totaling 10,823 shares, a decrease of 76.4% from the April 30th total of 45,949 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 31,315 shares, the days-to-cover ratio is presently 0.3 days.
Hedge Funds Weigh In On MediaCo
A hedge fund recently bought a new stake in MediaCo stock. JPMorgan Chase & Co. acquired a new position in shares of MediaCo Holding Inc. (NASDAQ:MDIA – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,937,881 shares of the company’s stock, valued at approximately $2,461,000. JPMorgan Chase & Co. owned 2.37% of MediaCo as of its most recent SEC filing. 64.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded shares of MediaCo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.
MediaCo Stock Down 5.5%
Shares of NASDAQ MDIA traded down $0.05 during trading on Friday, hitting $0.85. 11,143 shares of the company traded hands, compared to its average volume of 56,257. MediaCo has a 1 year low of $0.54 and a 1 year high of $1.60. The company has a 50-day moving average price of $0.83 and a 200-day moving average price of $0.75. The firm has a market capitalization of $69.31 million, a P/E ratio of -1.01 and a beta of 0.12.
MediaCo (NASDAQ:MDIA – Get Free Report) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.11) earnings per share for the quarter. The company had revenue of $31.39 million for the quarter.
MediaCo Company Profile
MediaCo Holding Inc owns and operates radio stations in the United States. The company engages in the operation of WQHT-FM and WBLS-FM radio stations in the New York City area. It also offers digital advertising, and events, which includes sponsorships, ticket sales, licensing, and syndication services. MediaCo Holding Inc was incorporated in 2019 and is headquartered in New York, New York.
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