MediaCo Holding Inc. (NASDAQ:MDIA) Sees Significant Increase in Short Interest

MediaCo Holding Inc. (NASDAQ:MDIA) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 35,146 shares, a growth of 224.7% from the May 14th total of 10,823 shares. Based on an average trading volume of 48,378 shares, the short-interest ratio is currently 0.7 days. Currently, 0.0% of the company’s shares are sold short.

MediaCo Stock Down 8.7%

MDIA traded down $0.07 during trading on Friday, hitting $0.75. The company’s stock had a trading volume of 175,451 shares, compared to its average volume of 92,203. MediaCo has a twelve month low of $0.54 and a twelve month high of $1.64. The stock’s fifty day moving average price is $0.85 and its 200-day moving average price is $0.74. The firm has a market capitalization of $61.19 million, a P/E ratio of -0.89 and a beta of 0.08.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised MediaCo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On MediaCo

An institutional investor recently bought a new position in MediaCo stock. JPMorgan Chase & Co. bought a new position in shares of MediaCo Holding Inc. (NASDAQ:MDIA) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing. 64.01% of the stock is currently owned by hedge funds and other institutional investors.

MediaCo Company Profile

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.