MediaCo Holding Inc. (NASDAQ:MDIA – Get Free Report) was the target of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 35,146 shares, an increase of 224.7% from the May 14th total of 10,823 shares. Based on an average trading volume of 48,378 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.0% of the company’s shares are sold short.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in MediaCo stock. JPMorgan Chase & Co. acquired a new stake in shares of MediaCo Holding Inc. (NASDAQ:MDIA – Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,937,881 shares of the company’s stock, valued at approximately $2,461,000. JPMorgan Chase & Co. owned about 2.37% of MediaCo at the end of the most recent quarter. 64.01% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, Weiss Ratings upgraded MediaCo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.
MediaCo Stock Down 3.5%
MDIA opened at $0.82 on Friday. The stock has a market cap of $67.02 million, a PE ratio of -0.98 and a beta of 0.08. The business has a 50 day moving average of $0.85 and a 200-day moving average of $0.74. MediaCo has a 52 week low of $0.54 and a 52 week high of $1.64.
MediaCo (NASDAQ:MDIA – Get Free Report) last released its earnings results on Friday, May 15th. The company reported ($0.11) EPS for the quarter. The firm had revenue of $31.39 million during the quarter.
About MediaCo
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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