MediaCo (NASDAQ:MDIA) Posts Earnings Results

MediaCo (NASDAQ:MDIA) posted its quarterly earnings data on Friday. The company reported ($0.11) EPS for the quarter, FiscalAI reports. The company had revenue of $31.39 million during the quarter.

MediaCo Trading Up 0.8%

Shares of MediaCo stock traded up $0.01 during trading hours on Friday, reaching $0.95. The stock had a trading volume of 21,889 shares, compared to its average volume of 56,988. The firm has a 50 day simple moving average of $0.78 and a two-hundred day simple moving average of $0.76. The firm has a market capitalization of $77.49 million, a price-to-earnings ratio of -1.12 and a beta of 0.12. MediaCo has a 1 year low of $0.54 and a 1 year high of $1.60.

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 MediaCo Holding Inc. (NASDAQ:MDIA) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 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. 64.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered MediaCo from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, MediaCo presently has an average rating of “Sell”.

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.