Urban One Inc (NASDAQ:UONEK) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 268,000 shares, a decrease of 10.9% from the January 15th total of 300,700 shares. Based on an average daily volume of 33,900 shares, the short-interest ratio is currently 7.9 days. Approximately 1.2% of the company’s shares are short sold.
Large investors have recently modified their holdings of the company. Morgan Stanley increased its stake in shares of Urban One by 8.9% in the second quarter. Morgan Stanley now owns 71,350 shares of the company’s stock worth $140,000 after purchasing an additional 5,842 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Urban One by 0.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,492,546 shares of the company’s stock worth $2,836,000 after purchasing an additional 8,899 shares during the period. Finally, Zazove Associates LLC grew its holdings in Urban One by 3.2% during the 3rd quarter. Zazove Associates LLC now owns 3,311,088 shares of the company’s stock valued at $6,424,000 after purchasing an additional 104,214 shares during the last quarter. Hedge funds and other institutional investors own 34.46% of the company’s stock.
Separately, ValuEngine raised shares of Urban One from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th.
Shares of NASDAQ UONEK opened at $2.00 on Friday. Urban One has a 1 year low of $1.64 and a 1 year high of $2.27. The stock has a market cap of $89.97 million, a P/E ratio of 0.77 and a beta of 0.93. The firm has a 50-day moving average of $1.91 and a 200 day moving average of $1.98. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.80 and a quick ratio of 1.80.
About Urban One
Urban One, Inc, together with its subsidiaries, operates as an urban-oriented multi-media company in the United States. The company operates through four segments: Radio Broadcasting, Reach Media, Digital, and Cable Television. The Radio Broadcasting segment includes radio broadcasting operations that primarily target African-American and urban listeners.
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