MediaCo (NASDAQ:MDIA) Stock Price Up 4.4% – Time to Buy?

MediaCo Holding Inc. (NASDAQ:MDIA)’s share price traded up 4.4% during trading on Wednesday . The company traded as high as $0.98 and last traded at $0.95. 148,944 shares changed hands during trading, an increase of 158% from the average session volume of 57,741 shares. The stock had previously closed at $0.9101.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded MediaCo from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, MediaCo presently has a consensus rating of “Sell”.

MediaCo Stock Performance

The firm has a market capitalization of $77.65 million, a price-to-earnings ratio of -1.13 and a beta of 0.12. The company has a 50 day moving average price of $0.80 and a two-hundred day moving average price of $0.75.

MediaCo (NASDAQ:MDIA) last announced its earnings results on Friday, May 15th. The company reported ($0.11) earnings per share for the quarter. The firm had revenue of $31.39 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MediaCo stock. JPMorgan Chase & Co. bought a new position in shares of MediaCo Holding Inc. (NASDAQ:MDIA) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,937,881 shares of the company’s stock, valued at approximately $2,461,000. JPMorgan Chase & Co. owned 3.61% of MediaCo at the end of the most recent reporting period. Institutional investors own 64.01% of the company’s stock.

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.