Short Interest in MediaCo Holding Inc. (NASDAQ:MDIA) Drops By 79.1%

MediaCo Holding Inc. (NASDAQ:MDIAGet Free Report) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 12,520 shares, a decrease of 79.1% from the June 30th total of 59,945 shares. Based on an average trading volume of 61,179 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the shares of the stock are short sold.

MediaCo Stock Performance

MDIA stock remained flat at $1.00 during midday trading on Monday. 21,796 shares of the company’s stock were exchanged, compared to its average volume of 84,438. The stock’s 50 day moving average price is $0.90 and its 200-day moving average price is $0.78. MediaCo has a 1 year low of $0.54 and a 1 year high of $1.64. The stock has a market capitalization of $81.73 million, a PE ratio of -1.19 and a beta of 0.05.

MediaCo (NASDAQ:MDIAGet Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.11) EPS for the quarter. The business had revenue of $31.39 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of MediaCo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Check Out Our Latest Research Report on MediaCo

Institutional Investors Weigh In On MediaCo

A hedge fund recently bought a new position in MediaCo stock. JPMorgan Chase & Co. bought a new stake in MediaCo Holding Inc. (NASDAQ:MDIAFree Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,937,881 shares of the company’s stock, valued at approximately $2,461,000. JPMorgan Chase & Co. owned 2.37% of MediaCo at the end of the most recent quarter. 64.01% of the stock is owned by institutional investors and hedge funds.

MediaCo Company Profile

(Get Free Report)

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.

Further Reading

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